• Loading stock data...
Saturday, May 18, 2024

Sporting Lisbon in Talks to Repurchase Debt Worth $282M

  • Sporting Lisbon is reportedly in talks to repurchase debt worth $282 million.
  • The soccer club plans to borrow money from Apollo Global Management.
Sporting CP/Design: Alex Brooks

Sporting Lisbon is reportedly in talks to repurchase debt worth $282 million from its two largest lenders, Novo Banco SA and Banco Comercial Portugues SA.

The potential buyback follows Sporting Lisbon’s net loss of $37 million in the financial year ending June 30. The club saw its total debt reach $349 million for the year, up from $335 million in FY2020 — despite winning its first Primeira Liga title in 19 years.

According to Bloomberg, Sporting Lisbon plans to repurchase debt by borrowing money from Apollo Global Management, a New York-based private equity firm that agreed to merge with Athene in January in a deal valued at $11 billion.

  • The debt will convert into equity if there’s a failure to repay.
  • There’s potential for the debt to be bought back at a discount to its face value.
  • No final agreement has been reached, as other bidders consider acquiring the debt.

Sporting Lisbon has suffered long-standing financial losses due to the global pandemic. Last year, the club cut player salaries by 40% for three months due to the suspension of games, while its board of directors took a 50% cut.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.

ESPN Narrowly Avoids Disaster on Hurricanes-Rangers Broadcast

The network briefly switched playoff games in crunch time of Canes-Rangers.

Iowa Athletes Sue State, Citing ‘Unconstitutional’ Tracking of Gambling

They claim investigators didn’t get warrants, misled about the purpose of questioning.

Rockies Coach’s Team Plane Cockpit Visit Triggers Federal Investigation

A since-deleted video shows him sitting in the cockpit mid-flight.
podcast thumbnail mobile
Front Office Sports Today

MLB, NBA, NHL Broadcasting Future Goes to Court

0:00

Featured Today

February 5, 2019; Washington, DC, USA; The grounds of the Capitol Building empty out following the conclusion of President Donald Trump's State of the Union speech on February 5, 2019.

‘A Breathtaking Lobbying Campaign’: The NCAA’s Sophisticated Effort to Save Amateurism

Inside the carefully coordinated, multimillion-dollar operation to end the athletes’ rights era.
May 14, 2024

The WNBA Was Forged in Houston. Why Won’t It Go Back There?

Houston’s a perfect fit for expansion. The league isn’t considering it yet.
May 9, 2024; Indianapolis, IN, USA; Indiana Fever guard Caitlin Clark (22) stands with the team during the national anthem on Thursday, May 9, 2024, during the preseason game against the Atlanta Dream at Gainbridge Fieldhouse in Indianapolis.
May 12, 2024

‘Perfect Storm’: The Rise of Local WNBA Broadcast Pacts

With national attention reaching new heights, regional coverage could dictate the future.
Mar 29, 2023; New York, New York, USA; American actors and comedians Chris Rock (left) and Ben Stiller sit court side during the third quarter between the New York Knicks and the Miami Heat at Madison Square Garden.
May 11, 2024

The Haves and Have-Nots: How the Knicks’ Celebrity Row Works

Unwritten rules, an expectation of quid pro quo, and nothing is free.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
FanDuel
Multiple - USA Careers

Ukraine’s Improbable Soccer Run Continues With Euros Qualification

The country reaches its first major soccer tournament since Russia’s invasion began.
March 4, 2024

FIA President Under Investigation for Alleged F1 Race Tinkering 

Mohammed Ben Sulayem is being scrutinized for his role in overturning a crucial penalty at F1’s 2023 Saudi Arabian Grand Prix. 
March 6, 2024

Super Bowl LVIII Scores Big With International Viewers

The NFL gets a 10% global boost compared to last year.
Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.
February 29, 2024

Paris Games Gain Momentum With $2B Completion of Olympic Village

The $2.2 billion housing project finished on time and was essentially on budget.
Everton goalkeeper Jordan Pickford passes during the first half against the Everton.
February 26, 2024

Everton Financial Punishment Trimmed After Appeal Is Partially Successful

Everton’s appeal of the EPL’s 10-point punishment was reduced to a six-point loss.
Lionel Messi
February 23, 2024

Copa América Tickets Climb in Latest Lionel Messi Effect

Tickets for Argentina’s game in Miami are pushing five figures.
German protests
February 21, 2024

German Football League Abandons Outside Investment After Protests

Bundesliga rethinks $1 billion media rights plan.