OL's parent company secures $40 million before its IPO

Eagle Football Holdings, the parent company of OL threatened with demotion due to its debts, announced that it had completed an initial fundraising of 40 million dollars (38.5 million euros) before its future IPO .

This initial investment comes as part of a funding round worth 100 million euros before an IPO on the New York Stock Exchange of the American group which also owns the Botafogo club in Brazil and Molenbeek in Belgium, according to a press release published during the night of Thursday to Friday.

Also read
Ligue 1: John Textor promises that Lyon will not be relegated

Fundraising before an IPO

It was carried out by UCEA Capital Partners, a London-based company which mainly invests in the energy, health, sports and technology sectors.

The fundraising aims to “strengthen the financial balance sheet” et “driving growth ahead of Eagle Football’s IPO planned for early 2025”underlines EFH.

“This financing is one more step towards our IPO ambitions”congratulates John Textor, the boss of the holding company.

In addition to the $100 million expected in a prior share issuance in anticipation of the IPO, Eagle Football Holdings is counting on an estimated $500 million in equity through the issuance of common shares. at the time of introduction, planned for the first quarter of 2025.

OL sanctioned by the DNCG

Also read
Foot: Textor “not at all worried” about the financial health of his company

The arrival on the North American financial market should also benefit Eagle Football Group, the French subsidiary which oversees Olympique Lyonnais, in financial difficulty.

When publishing the results for the year 2023/2024 at the beginning of November, Eagle Football Group listed the expected cash inflows to replenish its accounts, including 100 million euros at most as part of the introduction project on the New York Stock Exchange of the parent company.

Also read
Ligue 1: Aulas breaks silence on concerns around OL and denies a return

The auditors, however, considered that they did not have sufficient information to judge the character “reasonable” of these forecasts and indicated that they might not certify the results.

As a result, the financial policeman of French football sanctioned OL by threatening it with demotion if its financial situation does not improve by the end of the season. The National Directorate of Management Control (DNCG) also announced the control of its payroll and a ban on recruitment in the winter transfer market.

SEE ALSO – Paris SG: the snowball fight between Gianluigi Donnarumma and João Neves