Finance & Law
Chelsea ‘raises $500m’ in equity investment from Ares
Chelsea has raised $500m (€466.7m) in fresh investment from US fund Ares Management as the club’s American owners seek to expand their multi-club network after spending more than $1bn on player transfers since buying the Premier League club from Russian Roman Abramovich in May 2022.
Viaplay’s lenders appoint adviser to aid debt negotiations
Banks that have loaned money to Viaplay have appointed an external adviser to aid negotiations over the subscription streaming broadcaster’s debt burden, it is claimed.
XFL and USFL ‘in talks’ to merge spring football leagues
Professional American football leagues, the XFL and USFL, are looking to merge and create one unified alternative, spring football league
Where are the sponsors? ITF challenger von Arnim slams Davis Cup commercial appeal
The absence of blue-chip brands at last weekend’s Davis Cup matches across Europe is the surest sign yet that the format is dead and a leadership change is required at the International Tennis Federation (…
Moshiri finalises deal to sell Everton to 777 Partners
Everton has announced today (Friday) that Miami-based investment fund 777 Partners has signed an agreement to acquire Farhad Moshiri’s full stake in the Premier League club, which accounts for 94.1 per cent of the shares.
EXCLUSIVE: AFC has deal in place with special purpose vehicle following FMA termination
The Asian Football Confederation (AFC) has terminated its exclusive eight-year commercial rights contract with Football Marketing Asia and is poised to appoint a new special purpose vehicle likely to comprise…
NHL sponsor BioSteel files for bankruptcy protection
Canadian sports drink BioSteel, a sponsor of the National Hockey League (NHL), has announced that it has sought and obtained "an initial order for creditor protection from the Ontario Superior Court of…
Genius commences secondary offering of 20m shares
Data, technology and broadcast services group Genius Sports has today (Thursday) announced the commencement of a public offering of 20 million ordinary shares by an affiliate of investment funds advised by Apax Partners, which acquired a majority stake in the company in 2018, at a price of $5.35 (€5.02) a share.
Learfield cuts $600m of debt, adds $150m in equity investment
College athletics media and technology company Learfield has announced a "comprehensive deleveraging transaction" with its lenders to reduce its outstanding debt by more than $600m (€559m) as the company s…
Major League Pickleball, PPA Tour merge behind $50m investment
The two largest professional pickleball organisations, Major League Pickleball (MLP) and the PPA Tour, have announced a merger backed by an investment of $50m (€46m).
Viaplay sells off more equity in deal with Norwegian media group
Viaplay Group continues to dispose of more equity after Norwegian media group Schibsted secured a 10.1-per-cent shareholding in the financially troubled broadcaster.
Viaplay has already sold a 6
Everton suitor 777 seeks supporters’ cash for Genoa training centre
777 Partners, the Miami-based investment fund reportedly in talks to buy Premier League club Everton, has launched a supporters’ bond to raise money for a new training centre at Italian club Genoa.
US listing of Barça Media at risk after further delayed payments
Spanish LaLiga club FC Barcelona could be forced to postpone the planned US listing of its Barça Media business after German fund Libero Football failed to meet an August deadline for a proposed €40m ($…
Viaplay share price continues to plummet despite corrective measures
Viaplay’s share price dropped a further 27.5 per cent last week, its biggest decline since early June when chief executive Anders Jensen resigned amid a worsening financial situation at the subscription streaming and linear broadcaster.
Commercial Sports Media launches sports tech investment arm
Commercial Sports Media (CSM) is looking to leverage the fast growth of sports technology companies across the Nordic region with the creation of an investment arm to service the sector
Oregon State, Washington State file legal complaint against Pac-12
Oregon State and Washington State Universities, the two remaining Pac-12 schools following the mass exodus to three other conferences, have filed an emergency temporary restraining order against the collegiate…
Sunderland owners breathe life into WSX with promoter acquisition
The co-owners of Sunderland AFC, the second-tier English football club, have acquired SX Global, the Australia-based firm that has a 10-year contract in place to promote and manage the FIM Supercross World…
Pinault completes swoop for majority stake in CAA
French billionaire François-Henri Pinault has announced the purchase of a majority stake in leading entertainment and sports firm Creative Artists Agency (CAA) from investment fund TPG.