Finance

Show within Informer: 

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’.

Fanatics raises $350m in new investment round

Fanatics has closed a new $350 million (£267 million) investment round, which sees the company now valued at around $6.2 billion (£4.7 billion).

The latest Series E round, led by Fidelity Management & Research Co. and Thrive Capital, will see the retailer’s total funding raised amounting to around $1.5 billion (£1.1bn) since 2011.

Other investors in the round include Franklin Templeton Investments and Neuberger Berman Group LLC.

The Rock and RedBird Capital acquire XFL

Dwayne The Rock Johnson has announced an agreement to buy XFL, an American Football League set up by WWE Owner Vince McMahon in 2018, alongside his wife Dany Garcia and RedBird Capital Partners, the private equity firm founded by Gerry Cardinale.

The deal sees the group take control of the assets of Alpha Entertainmant LLC, the parent company of XFL set up by McMahon, for around $15 million (£11.5 million). The company filed for bankruptcy in April.

NEOM partners with Blast to shape esports vision

Danish esports tournament organiser BLAST has announced a new partnership with NEOM, a planned cross-border city in Saudi Arabia, to help it develop into a regional esports hub.

The global partnership aims to propel the growth of esports in Saudi Arabia and will seek to engage, educate and benefit the local and global esports ecosystem. As part of the partnership BLAST will develop technology and share expertise to help build an esports academy and develop the sport in the country.

Bridgepoint 'approach' The FA over WSL minority stake

Private equity firm Bridgepoint is seeking to acquire a minority stake in the Barclays FA Women’s Super League (WSL), according to reports from Sky News and The Times.

The reports say Bridgepoint has 'approached' The FA with an offer to buy a minority stake in a new company, set up to own the commercial rights of the WSL.

The London-based private equity firm has a long-standing interest in sport, with ownership of sports management, marketing, and media company Dorna, which is the commercial rights holder of MotoGP and World Superbikes.

ECB announces record pre-covid turnover

The ECB reported a record turnover of £228 million for 2019/20 at its virtual AGM, an increase of £56 million on 2018.

The hosting of the ICC Men’s Cricket World Cup 2019 saw the record turnover met, while the ECB says the figure represents a considerable increase on an ‘average year’, in which the organisation would expect to reach a turnover of £125 million.

The governing body for cricket in England and Wales also says that 2019/20 profits exceeded expectations, too, hitting £5.7 million. 

Lancashire announces record-breaking pre-Covid financial results

Lancashire Cricket Club has announced its best-ever financial report up to the year ending 31st December 2019. 

The club says its earnings before interest, taxes, depreciation and amortisation (£7.6 million) is the highest ever of any First Class County, and it has also reported record turnover of £34 million and net profit of £5 million - new high watermarks in the club’s history.

City Football Group add Belgian club to portfolio

City Football Group (CFG) has acquired Belgian football club Lommel SK, becoming the ninth club owned by the group.

The Belgian second division side joins the likes of Manchester City, New York City FC, Melbourne City, and Yokohama F Marinos, and extends CFG’s presence in Europe.

The group says its focus is on developing clubs, academies and players and has pointed to Lommel’s strong academy and focus on youth development. 

Pages

Subscribe to RSS - Finance