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Aser Ventures appoints ex-Gfinity CEO Wallace to financial role

Global sports investment company Aser Ventures, the ownership group behind international sports broadcaster Eleven Sports, has appointed Graham Wallace as its chief corporate and finance officer.

Wallace, who recently left his role as chief executive of London-based esports company Gfinity, will head up corporate and financial operations for Aser Ventures and its portfolio of companies.

He will be based at the group’s London offices and will sit on the board of both Aser Ventures and Eleven Sports.

Andrea Radrizzani, founder and executive chairman at Aser Ventures, said: “At Aser Ventures we want to continue to be bold and grow, to come through this challenging period in a stronger position than ever. Graham’s vast experience and passion for driving innovation and operational excellence make him a perfect addition to our already world class management team.

“Graham will now play a key role in leading the strategic direction of our business as we work to deliver maximum value for our portfolio companies and partners.”

Wallace and Garry Cook, Gfinity’s executive chairman, left the esports company amidst a “significant cost reduction programme”. The guidance issued by Gfinity two months ago said that it expected to report first-half revenue of £3.5m (€3.9m/$4.3m) against a higher-than-expected operating loss of £2.4m.

Wallace joined Gfinity as global chief operating officer in the middle of 2018.

He was with English Premier League side Manchester City for four years (between 2009 and 2013), laterally as chief operating officer. He then endured an ill-fated spell as Rangers chief executive between 2013 and 2014. He also worked as chief financial officer, global media at IMG Media, joining in 2006.

He said today (Tuesday): “The Aser Ventures group has built up an exceptional ecosystem of sports and media properties over the past five years and they are ambitious to continue to disrupt and grow, under the leadership of Andrea Radrizzani. I’m excited to help deliver on this vision alongside Andrea and the Aser management team.”

Other assets in Aser’s portfolio include English Football League side Leeds United and live football news and scores mobile app OneFootball. Aser also recently became a shareholder in Otro, the football content studio, in a wider alliance with US-based investment fund Corrum Capital Management.