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U.S.-based investment company Bruin Capital is making a major play in international soccer, buying three player and coach representation firms in Europe, nearing a deal for a fourth in the United Arab Emirates, and rolling them up into a newly formed agency it will call As1.
The series of agreements—further showcasing the accelerating change in the sport—involves Bruin acquiring Nomi Sports, Positionumber, and Promoesport in now-closed deals, while an agreement is in place for Football Division Worldwide, as well. Collectively, the companies represent more than 300 players and coaches from 35 countries, including Liverpool star Luis Díaz, Manchester United midfielder Bruno Fernandes, and that team’s newly hired head coach Ruben Amorim.
Financial terms were not disclosed, but industry sources said the agencies have a combined enterprise value of $310 million.
Bruin, which has several other companies such as marketing agency Engine Shop and golf simulator Full Swing in its portfolio, has eyed a large-scale entry into the representation space for some time. But it now is happening as the entire sport is rapidly taking on a greater international profile and newer entrants, such as the Saudi Pro League, are radically reshaping soccer’s financial profile.
“The industry is evolving in our new creator economy where every athlete can become a global brand or enterprise, and that’s how we are going to approach things from the very beginning,” said Bruin founder and CEO George Pyne, who will also chair the new agency. “Given our background, network, and track record, we believe this new platform can become something special.”
As1 will now also be part of Legion Sports, a new holding company created by TJC, a key financial backer of Bruin. This structure, among other advantages, also avoids a conflict of interest for private equity firm CVC Capital Partners, another strategic partner of Bruin’s that also has equity holdings with LaLiga and France’s Ligue de Football Professionel.
Ignacio Aguillo, who has a lengthy background in investment banking in addition to stops with sports entities such as Atletico Madrid and the World Padel Tour, will be CEO of As1, which will be headquartered in London.
For Pyne, meanwhile, this deal brings him back to the core of his own background. Before starting Bruin, he served as president of sports and entertainment for IMG, leaving there soon after Endeavor’s 2014 acquisition of the famed agency.
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