EAGLE FOOTBALL GROUP Décines, March 18, 2024 - 8.00 am.
OL Groupe announces the signing of an agreement with a group including the Seattle Sounders and global investment firm Carlyle for the sale of Seattle Reign FC (formerly OL Reign). OL Groupe will sell its entire stake, representing 97% of the club's share capital.
The sale price is $58 million (currently around €53.6 million) for 100% of the shares. The transaction is expected to close in early 2024, subject to approval by the NWSL (National Women's Soccer League) and MLS (Major League Soccer) Board of Governors.
This transaction is in line with the Group's strategy, in particular the refocusing on men's football announced on October 25. It should enable OL Groupe to recognize a capital gain on the sale in the 2023/24 financial statements, after deduction of current account advances committed to the club's development and the impact of accumulated results since the acquisition of the American franchise in January 2020.
OL Groupe is delighted with this transaction as it ensures a locally-led group will continue OL Groupe's successful development of the Seattle franchise.
The Raine Group and Proskauer served respectively as exclusive financial and legal advisor to OL Groupe.
| OL Groupe Tel: +33 (0)4 81 07 55 00 Fax: +33 4 81 07 45 65 Email: investisseurs@ol.fr www.ol.fr |
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Full and original press release in PDF: https://www.actusnews.com/news/84603-olg-cession-seattle-reign-fc-18022024-en.pdf
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