Finance

Show within Informer: 

Pitch & SDISports launch Football Collective Joint Venture

Pitch Marketing Group and SDIsports have launched The Football Collective, a global football marketing agency alliance focussed on the 2022 and 2026 FIFA World Cup tournaments. 

The joint venture will combine the two agencies teams in London, Toronto and Doha offering expertise across sponsorship strategy and activation, content creation, experiential, social and PR. 

Two Circles acquires TRM Partners

Two Circles has announced the acquisition of independent sports rights-sales business, TRM Partners. 

TRM, founded in 2014 by former Manchester United Commercial Executives Harry Horsley and Leo Thompson as a premium white-label sales resource, has been responsible for $700m in deals for sports rights-owners including the NFL, UEFA, ICC, Chelsea FC and AC Milan.

It has also been responsible for sponsorship deals including Yokohama’s five-year partnership with Chelsea, and Visa and Pepsi’s partnerships with UEFA women’s football competitions.

Formula E announces investment in Extreme E

Formula E has become a minority shareholder in Extreme E in a move which will also see Formula E CEO Jamie Reigle join the Extreme E board. 

Both organisations were founded by Alejandro Agag, and promote the acceleration and adoption of electric vehicles in a bid to fight climate change.

According to both businesses, the two will remain independent, but will work together as part of a strategic partnership with the close collaboration of their leadership.

“Formula E and Extreme E stand out as sports founded with purpose,” said Reigle.

Genius Sports to go public on New York Stock Exchange after merger

Genius Sports has announced that it will go public on the New York Stock Exchange after entering into a merger agreement with US-based special purpose acquisition company (SPAC) dMY Technology Group.

Boards of both businesses unanimously approved the deal, which will see the combined companies worth $1.5bn (£1.15bn).

According to Genius Sports, CEO Mark Locke will continue in his role, while dMY chairman Harry You, along with its CEO Niccolo de Masi, will join the new company’s Board of Directors. 

Caesars Entertainment gets green light for £2.9bn takeover of William Hill

American casino firm Caesars Entertainment has been given the green light to go ahead with takeover of UK betting company William Hill.

The pair have agreed a £2.9 billion deal after the boards of both companies consented to a cash offer of £2.72 per share, however the deal is still subject to at least 75% of William Hill shareholders voting in favour. 

The news comes after rival bids by US private equity firm Apollo were turned down.

Reynolds and McElhenney in Wrexham takeover talks

Hollywood star Ryan Reynolds and Always Sunny in Philadelphia creator Rob McElhenny have been revealed as prospective investors in National League outfit Wrexham AFC.

A special general meeting has been arranged after the fan-owned club’s members voted overwhelmingly for talks to proceed, and Reynolds and McElhenny will join the meeting to present their vision for the club.

It is understood that the takeover would be for a nominal fee but with the guarantee that an immediate £2m be injected in to the club.

LimeLight Sports acquires Virgin Sport

LimeLight Sports has acquired mass participation business Virgin Sport. 

The sports marketing group will take over the three major events which were run by Virgin Sport - the Asics London 10k, the Oxford Half Marathon, and the Hackney Half Marathon - which will now be run by LimeLight Sports Group’s owned campaign portfolio, LimeLight Sports Club. 

“Since its launch five years ago, Virgin Sport has created some fantastic events and built a passionate audience,” said Jessica Frey, CEO, Virgin Sport.

Scudamore appointed to RedBall Acquisition Corp Board

Former Premier League Chief Executive Richard Scudamore has been appointed to the board of RedBall Acquisition Corp.

The company, set up by RedBird Capital Founder Gerry Cardinale and Oakland A’s minority shareholder Billy Beane, announced the closing of its initial public offering worth $575 million (£474 million) earlier in August, and will place ‘a focus on professional sports franchises, which complement the management team’s expertise’.

Pages

Subscribe to RSS - Finance