The club wants to take advantage of investor demand for Europe’s historic football clubs.
Sporting is in talks for sale of a minority stake in SAD leonina, Bloomberg said this Thursday. There is still no certainty that an agreement will emerge from the negotiations, a source familiar with the process, who requested anonymity, told the agency.
The restructuring of the club’s debt in December 2023 opened the way for new investments and allowed management greater control over market decisions. At the end of last year, Sporting concluded negotiations with Novo Banco to purchase the 51.41 million Mandatory Convertible Securities (VMOC) that were still held by the financial institution and that could be converted into shares by 2026. With the purchase of these VMOC, the club now holds 87.994% of SAD.
In recent years, major investors have set their sights on Europe’s elite football clubs. Once seen as valuable assets, billionaires and private equity executives from around the world are looking to capitalize on the sport’s untapped revenue potential.
At the end of 2023, Jim Ratcliffe, a British chemical industry magnate, acquired a quarter of Manchester United, one of the biggest clubs in British football. Also this Wednesday, January 3, the Portland Thorns team, from the National Women’s Football League, in the United States, was purchased by the Bhathal family for 63 million dollars.
News update
*Text edited by Inês Santinhos Gonçalves
2024-01-04 12:56:58
#Sporting #considers #sale #minority #stake #Sports #Jornal #Negócios
