Sunday December 3, 2023

Pacific Media Group Co-Founder Nears Stake in German Soccer Team

  • Pacific Media Group is close to adding to its clutch of European soccer teams.
  • Its founder also has a team-focused SPAC.
FC Kaiserslautern/Design: Alex Brooks
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Pacific Media Group founder Paul Conway is in advanced talks to take a minority stake in a German soccer team, backed by baseball executives known for data-driven analysis.

A deal for 10% of FC Kaiserslautern could reportedly be announced soon. Conway is working with investors and multi-team co-owners Chien Lee and Krishen Sud, Tampa Bay Rays co-owner Randy Frankel, and former Rays executive Michael Kalt on the bid. 

Known for targeting lower-division teams, often with a limited track record of success, Pacific Media Group co-owns a growing collection of European soccer teams.

  • EFL Championship’s Barnsley FC (Oakland A’s executive Billy Beane also owns a stake)
  • Ligue 2’s AS Nancy
  • Esbjerg FB of Denmark’s First Division
  • Belgian Pro League team KV Oostende 
  • Swiss Challenge League team FC Thun
  • FC Den Bosch of the Netherlands’ Eerste Divisie

Local investors acquired 33% of Kaiserslautern in 2020 for around $12.1 million.

SPAC on Track

Conway is seeking to claim a chunk of a more prestigious team through a SPAC he formed with Kalt, Counter Press Acquisition Corp. The blank-check company is seeking a club with an enterprise value between $250 million and $500 million.

The SPAC’s management team includes Frankel, former Rays general manager and current Los Angeles Dodgers president of baseball operations Andrew Friedman, and Angel City Football Club co-founder Julie Uhrman.

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