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Sunday, April 21, 2024
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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. 

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