• Loading stock data...
Sunday, April 21, 2024
  • -
    days
  • -
    hours
  • -
    minutes
  • -
    seconds

Treecorp Partners Acquires Brazilian Club for $260M

  • Sao Paulo-based Treecorp will allocate about $54 million toward paying off Coritiba's debt.
  • Coritiba's takeover follows City Football Group's recent acquisition of Bahia, another soccer club in Brazil.
TreeCorp is buying 90% of Coritiba for $260M
Mark J. Rebilas-USA TODAY Sports

A Brazilian soccer club will receive major debt relief from a Sao Paulo-based private equity firm.

Treecorp Partners has agreed to acquire 90% of Brasileiro Série A club Coritiba in a deal valued at $260 million. 

About $54 million of Treecorp’s payment will go toward paying off the club’s debts, according to SportsPro. Another $100 million will be used to upgrade Coritiba’s Couto Pereira Stadium, while $20 million will be spent on renovating the club’s training facility. 

Treecorp has also allocated $90 million to support day-to-day team operations.

Coritiba was founded in 1909, making it the oldest soccer club in the state of Paraná. The team currently ranks 19th of 20 teams in Brazil’s top-tier league and won its only Série A championship in 1985. 

Money is being pumped into Brazil’s top existing league as it faces potential competition from Liga Forte Futebol, a breakaway project backed by U.S. investors that has reportedly garnered support from some Serie A and Serie B clubs. The league would be controlled by clubs instead of Brazil’s national federation.

Another Brazilian Takeover

Treecorp’s acquisition comes just a few days after City Football Group completed its takeover of Brazilian club Esporte Clube Bahia.

Bahia is the 13th soccer club owned by CFG, which paid a reported $200 million for 90% of the club. Bahia is CFG’s second-largest investment after its majority stake in Manchester City. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Rockies Coach’s Team Plane Cockpit Visit Triggers Federal Investigation

A since-deleted video shows him sitting in the cockpit mid-flight.
Alex Rodriguez, Anthony Towns

Timberwolves’ Playoff Start Is Clouded by a Messy Ownership Dispute

No one knows who the Timberwolves’ owner will be in the future.

Diamond Sports Group Is About to Survive Bankruptcy. Will It Matter?

The bankrupt company faces key questions relating to both programming and distribution.
podcast thumbnail mobile
Front Office Sports Today

Why Ian Rapoport Lives for the NFL Draft’s Chaos

0:00
0:00

Featured Today

Everything You Need To Know About the Legal Attempts To Kill the ACC

Four lawsuits involving the conference, Clemson, and FSU could determine the future.
April 20, 2024

A Bare-Knuckle Fighter Won His Pro Debut. The Far Right Scored a Marketing Win

With Proud Boys sponsoring him, experts say extremist groups will use his success to elevate their ideologies and recruit new believers.
April 7, 2024

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.

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

Utah Fans Rush for Season Tickets (for a New NHL Team With No Name)

More than 20,000 season-ticket deposits have been made for the newly relocated NHL team.
April 17, 2024

NBA Postmortem: A Record Salary, Groundbreaking Investment … and What For It?

The Pistons and Wizards made big financial moves last summer.
Jazz owner Ryan Smith
April 18, 2024

Utah’s Long-Term Hockey Dream Is a Short-Term Logistical Nightmare

Ryan Smith now faces a lengthy to-do list to prepare for the next NHL season.
Sponsored

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
April 17, 2024

The A’s Have Major League Problems With Minor League-Level Attendance

The team was outdrawn Tuesday by 19 different minor-league teams.
April 17, 2024

Warriors Missing Playoffs Has Big-Money Consequences

The NBA is losing one of its biggest postseason draws.
April 15, 2024

Knicks’ Resurgence Marks Peak in Dolan’s Sports Domain

The team’s on-court success is fueling a series of gains off it.
April 12, 2024

Fever Keeping Plans Quiet (for Now), Unlike Spurs and Blackhawks

The Fever’s business approach differs from recent rookie phenoms in other leagues.