OL Groupe: sale of Seattle Reign FC for $58 million

(CercleFinance.com) - OL Groupe announces that it has signed an agreement with a group comprising the Seattle Sounders and the global investment company Carlyle for the sale of Seattle Reign FC (formerly OL Reign).


OL Groupe will sell its entire stake, i.e. 97% of the club's share capital.

The sale price is $58 million (around ?53.6 million at present) for 100% of the shares. The transaction is expected to be finalized in early 2024.

This transaction is in line with the Group's strategy, in particular the refocusing on men's soccer announced on October 25.

It should enable OL Groupe to recognize a capital gain on disposal in the 2023/2024 financial statements, after deducting current account advances committed to the club's development and the impact of accumulated earnings since the acquisition of the American franchise in January 2020.

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