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April 16 – US strategic investment firm Atairos has become a minority shareholder in V Sports, the entity that owns Aston Villa.
V Sports, the joint venture led by Nassef Sawiris and Wesley Edens, will maintain 100% ownership of Aston Villa and retain authority over all club operations. V Sports bought the club in 2018 for about £76 million and when they were in the Championship.
Atairos, which has $6.5 billion under management, will provide finance targeted at ‘enhancing growth and infrastructure initiatives’ with the aim of generating significant and sustainable value for V Sports.
No value was given for the Atairos buy-in to V Sports, or the size of the shareholding they are acquiring.
CEO Michael Angelakis and managing director Chester Hall will join the club board, alongside new additions Bashir Lebada and Sarah Louise Waterson.
Since 2019, under the leadership of Sawiris and Edens, V Sports has expanded its network of club ownerships to include Vitoria S.C. in Portugal and J-League Champions Vissel Kobe in Japan. Additionally, V Sports has established partnerships with clubs in Spain and Egypt.
The injection of capital from Atairos will work across the group’s clubs.
In a joint statement Nassef Sawiris and Edens said: “We are excited to enter this partnership with Atairos, which will provide to fund infrastructure investments and drive growth and sustainable value for AVFC and the broader V Sports network over time.
“Atairos is an established investor and has successfully partnered with numerous leading companies in the leisure, sports, live entertainment, and media industries, including in the UK and Europe. We are confident Atairos is the right long-term strategic partner to support our next phase of growth.”
Aston Villa reported a loss of £119.6 million loss in their 2022/23 end of year accounts on turnover of £217 million. That covered a season that saw their return to European club competition. This season they will likely…
Source link : https://www.insideworldfootball.com/2024/04/16/aston-villa-owner-v-sports-brings-atairos-new-money-enhance-infrastructure-projects/
Author : Paul Nicholson
Publish date : 2024-04-16 11:30:15
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