Décines, March 18, 2024 – 8:00 a.m.
OL Groupe announces the signing of an agreement with a group including the Seattle Sounders and global investment company Carlyle for the sale of Seattle Reign FC (formerly OL Reign).
In this context, OL Groupe will sell its entire stake, i.e. 97% of the club’s share capital.
The sale price is 58 million dollars (around 53.6 million euros to date) for 100% of the shares. The transaction is expected to be completed in early 2024, subject to approval by the Board of Directors of the NWSL (National Women’s Soccer League) and MLS (Major League Soccer).
This operation is part of the Group’s strategy, in particular the refocusing on men’s football announced on October 25. It should allow OL Groupe to recognize a capital gain on the sale in the accounts for the 2023/2024 financial year, after deduction of the current account advances made in the development of the club and the impact of the cumulative results since the acquisition. of the American franchise in January 2020.
OL Groupe is delighted with this transaction with a locally managed group, which strengthens the Seattle franchise in the pursuit of successful development by OL Groupe.
The Raine Group and Proskauer acted as exclusive financial and legal advisors to OL Groupe, respectively.
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OL Group Such : +33 4 81 07 55 00 Fax: E-mail : www.ol.fr | Euronext Paris – compartment C Indices: CAC All-Share – CAC Consumer Discretionary |
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Full and original press release in PDF format:
https://www.actusnews.com/news/84602-olg-cession-seattle-reign-fc-18022024-fr.pdf
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