An American investor will have help securing a takeover deal for a top French soccer club.
Former FuboTV executive John Textor has agreed to acquire Ligue 1’s Olympique Lyonnais with Gordon Rubenstein, the managing partner of Raine Ventures — The Raine Group’s VC arm.
“I think we have an incredibly strong group behind the effort, which is focused on creating value for the community,” Rubenstein told Bloomberg.
- The acquisition will be through Textor’s investment vehicle, Eagle Football Holdings.
- EFH will pay $344.2 million for 39.2 million shares and 789,824 subordinated bonds.
- The deal is expected to be finalized on Dec. 19. and will value Lyon at $842 million.
Earlier this week, Textor gave Lyon assurances that he will complete a deal for the club. He was given a Dec. 7 deadline to reach an agreement after a series of snags delayed the sale process.
Genstar Capital chairman Jean-Pierre Conte also joined Lyon’s pending new ownership group. Conte is part of a consortium of minority investors that plan to allocate roughly $105 million toward the acquisition.
Another New Owner
Lyon would join a growing list of European soccer clubs with American owners, most recently the Premier League’s AFC Bournemouth.
On Tuesday, Vegas Golden Knights owner Billy Foley and a consortium of investors finalized their acquisition of Bournemouth in a deal worth $150.7 million.
The deal puts half of the Premier League’s 20 clubs under American ownership.
