October 31 – John Textor plans to take his Eagle Soccer group, a a number of membership possession holding firm, public within the US with a $1.1 billion flotation within the first quarter of 2024 to recapitalise and repair debt.
In a press release, Eagle Soccer Holdings broke down the recapitalization plan: As much as $100 million of widespread fairness, by means of the pre-IPO issuance of widespread shares of Eagle Soccer; an estimated $500 million of widespread fairness, by means of the issuance of widespread shares of Eagle Soccer in reference to its deliberate 1st quarter IPO; as much as $500 million to retire current senior debt, to be achieved by means of the sale of its curiosity in Crystal Palace Soccer Membership and, presumably, the position of long-term senior notes.
Bloomberg earlier reported that Textor (pictured) and Eagle Soccer had been looking for to borrow about $300 million to assist repay a part of a mortgage from Ares Administration, an funding agency with hyperlinks to Inter Miami, Chelsea and Atletico Madrid, as half of a broader recapitalisation plan. Part of the sale of the Crystal Palace stake may also be used to service the debt. Textor has to date did not discover a purchaser.
Eagle Soccer stated in a press release that they’ve engaged “a gaggle of globally-recognized funding banks” to steer the recapitalisation plan. The Raine Group is tasked with the sale of the stake in Crystal Palace.
Eagle Soccer owns majority stakes in Olympique Lyonnais, Brazil’s Botafogo and Belgium’s RWD Molenbeek. Just lately, Textor had been linked to funding in Everton. The group stated that Botafogo’s income is anticipated to exceed $100 million in 2024. Earlier this week, the Rio membership clinched a ticket to their first-ever Copa Libertadores closing. Textor and his holding mission participant switch income to exceed $225 million this season.
The assertion stated that the group has chosen to delay its filings in the UK following a change in its monetary reporting to adjust to US accounting requirements. In France, Eagle Holdings hasn’t filed its monetary accounts for the yr 2023-24 both due to a pending audit.
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