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Eagle Football Group: sale of 97% of OL Reign (NWSL) completed for $58m (€54m)

News Tank Football - Paris - News #328599 - Published on 17/06/24 at 10:40
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©  Seattle Reign FC
OL Reign, renamed Seattle Reign FC - ©  Seattle Reign FC

"Eagle Football Group (formerly OL Groupe) announces the completion of the sale of its entire stake in the american franchise Seattle Reign FC (NWSL National Women's Soccer League, the American women's football league. It is a closed league (no relegations) with 9 teams. , formerly OL Reign), representing 97% of the club's share capital, to a group including the Seattle Sounders (MLS Major League Soccer, the top professional football league in the USA and Canada ) and global investment firm Carlyle," announced the group on 17/06/2024. The price of the agreement is $58m (€54m).

This transaction follows on from the agreement signed between the parties on 18/03, following approval by the boards of the National Women's Soccer League and Major League Soccer. Tony Parker President @ LDLC ASVEL (ASVEL)
Activity: professional basketball player Nationality: French Net annual salary (2018-19): $5m Digital communicty (as of 17/06/2019): • Facebook: 3.08…
, majority shareholder and president of LDLC ASVEL Activity: French professional basketball club Founded: 1948 President: Tony Parker Vice-president: Gaëtan Muller Commercial director: Christophe Just (c.just@asvel.com) Awards: 18 French… (Betclic Élite), retains ownership of the remaining 3% of the franchise, which was acquired by OL for €3.15m in December 2019.

"This transaction should enable Eagle Football Group to recognise a capital gain on the sale in the 2023-24 financial statements, after deducting 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," added the group owned by American John Textor Chairman of the board @ Olympique Lyonnais Groupe (OL Groupe)
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  • The Raine Group and Proskauer acted as exclusive financial and legal advisors to OL Groupe.

Eagle Football Group: "Refocusing on men's football"

Michele Kang during a press conference, 08/02/2024 - ©  Olympique Lyonnais

  • The sale of OL Reign is "in line with the Group's strategy announced on 25/10/2023, in particular the refocusing on men's football," said Eagle Football Group on 17/06/2024.
  • Since the start of 2024, Eagle Football Group has already completed two other disposals:

Sale of OL Féminin to Michele Kang Owner @ London City Lionesses • President @ Olympique Lyonnais Féminin • Owner @ Olympique Lyonnais Féminin • Owner @ Washington Spirit (NWSL) • Founder and CEO @ Cognosante
via her company YMK Holdings

  • OL Group sold 52.91% of the capital and voting rights of OL Féminin (D1 Arkema French women's football first division (D1 Féminine), Arkema as title sponsor for the 2019-2022 cycle ) to American businesswoman Michele Kang, via her company YMK Holdings, on 08/02/2024.
  • Michele Kang was appointed president of OLF on 19/12/2023 and Vincent Ponsot Secrétaire adjoint @ Foot Unis • Directeur général Football @ Olympique Lyonnais (OL)
    has been chief executive officer since 03/01/2024.
  • OL Groupe continues to benefit from minority representation on OLF's board of directors.
  • As part of this transaction, OLF will benefit from the "Olympique Lyonnais" brands for a period of at least 50 years and from certain services provided by OL Groupe and its subsidiaries (including in particular the use of the Groupama Stadium and the Groupama OL Training Center).

Sale of the LDLC Arena to HOLARENA

The LDLC Arena - ©  OL Groupe

  • "The sale of OL Vallée Arena (the company operating the LDLC Arena) to Holnest (Jean-Michel Aulas Président @ Ligue féminine de football professionnel • Vice-président délégué @ Fédération Française de Football (FFF)
    • Officier de la Légion d’honneur/Officer of the Legion of Honor (2017) …
    ' family holding company) and a group of investors (in a newly-created company called HOLARENA) was completed today," announced Eagle Football Group (formerly OL Groupe) on 12/06/2024.
    • Exclusive discussions between the two parties had been announced on 02/04/2024.
  • "The sale of 100% of the company's shares and current account of Eagle Football Group is worth around €70m, based on a valuation of the company estimated at around €160m. The transaction will be settled in the form of Eagle Football Group shares held by Holnest for around €16m, and the balance in cash for around €54m," explained the Group.
  • HOLARENA, the company formed as part of this transaction, is 60% owned by Holnest.
  • The company's other shareholders are Groupama Rhône-Alpes Auvergne, the second largest shareholder (15%), Groupe LDLC, through its subsidiary LDLC Invest (3.6%), the Souverain Auvergne-Rhône-Alpes fund (4.2%), the CCI Lyon Métropole Saint-Etienne Roanne (1.8%) and entrepreneurs investing in the project (15.2%).
  • HOLARENA will be "chaired by Alexandre Aulas (Holnest) and will be managed operationally from 01/07 by Xavier Pierrot, who will be stepping down from his current role as deputy managing director in charge of the stadium and arena on 30/06/2024."
©  Seattle Reign FC
OL Reign, renamed Seattle Reign FC - ©  Seattle Reign FC