Corporate Finance case studies
Sports Business Group
Football club transactions
We have provided business advisory and corporate finance services in respect of several football club transactions over recent years. In respect of financing transactions and either buy-side or sell-side activities, clients choose Deloitte because they trust and value our deep industry experience and advice to provide credibility and robust commercial insight to enable successful completion of the transaction.
A sample of football club transactions:
- Financial, tax and commercial due diligence for an investor consortium in respect of their proposed acquisition of an English Premier League football club.
- Preparation of an information memorandum to assist the owners of a Championship club to attract new investment.
- Assistance to a potential investor in respect of a leading Italian Serie A club, including appraisal of developments in respect of changes to the sale and distribution of broadcast rights.
- Market report and financial due diligence conducted for a potential investor in a major French top division football club.
- Financial due diligence to support General Sports and Entertainment's successful acquisition of Derby County Football Club.
- Financial and commercial due diligence services in connection with the £350 million financing package for Kop/Liverpool FC completed in January 2008.
- Advice on investment strategy approach, including market overview and benchmarking of certain English Championship and Premier League clubs to assist a potential investor.
- Market report and financial due diligence in respect of the initial acquisition and subsequent refinancing of Manchester United.
Other sports business corporate finance case studies
- Commercial and financial due diligence in respect of a potential mixed private equity/debt investment in a global sports rights agency.
- Commercial diligence work in respect of the business dynamics of Formula 1 and assistance in the preparation of management’s business plan and an information memorandum for team fundraising.
- Due diligence services to International Management Group in respect of the acquisition of BSI Speedway, the company which holds the promoting rights of the FIM World Individual Speedway Grand Prix Series and FIM Speedway World Cup.
- Market and financial due diligence in respect of a leading UK sports betting entity.
- Independent business review for financiers to football clubs.
- Due diligence in respect of the refinancing of Wembley National Stadium Limited.
- Business valuation reports in respect of various Premier League clubs.
- Financial, market and tax due diligence report for Wasserman Media Group in respect of their acquisition of the SFX sports agency.
- Commercial due diligence to support Bridgepoint’s successful bid to acquire Dorna Sports, owner of Moto GP.
- Commercial and financial due diligence for Advent International on Sportfive, a leading European sports rights agency, resulting in the successful acquisition of the agency by Advent.
A sample of cases on which our specialists have acted:
- Reporting on the mechanism for sale of UEFA Champions League TV rights and its distribution of income: expert report on its impact on the ‘solidarity’ in European football – in response to an EU Competition Authority statement of objections.
- Preparation of an expert report, for International (Swiss) Arbitration proceedings, on the sports marketing, media and commercial rights aspects of a commercial dispute over the consequential losses from the cancellation of a global sports competition.
- Expert report for the South Africa’s Governmental Enquiry into the ‘listing’ of broadcast sports events on behalf of the satellite broadcaster SuperSport.
- Economic expert before the Court of Arbitration for Sport in Lausanne in the ENIC v UEFA case re football club ownership regulations.
- Preparation of an expert report on the economic impact of the transfer system in football for submission to the European Commission, in relation to that body’s Enquiry into the football player transfer system.
- Preparation of an expert report on commercial consequences and potential losses in a dispute between two Premier League football clubs over the transfer of a player.
- Performing the forensic accounting exercise on behalf of the Enquiry set up by the Rugby Football Union into alleged improper payments regarding Rotherham RUFC.
- Advice in respect of football industry matters for the loss of earnings case, Ben Collett v Gary Smith/Middlesbrough FC.
- Expert for Southend United and Everton FC on planning enquiries in respect of football industry matters and economic impact.
- The Deloitte Annual Review of Football Finance has been used as 'agreed evidence' in a number of legal cases, at both UK and European level.