John Textor has sent a first favorable signal with a view to the IPO of Eagle Football Holdings in New York. Good news for OL?
In the columns of L'Equipe Mag this Friday, John Textor renewed his confidence in the idea of getting OL out of its current bad economic situation: “I am not even the least bit worried about bankruptcy. I'm constantly fundraising, it's a daily job. Most of the companies I acquired had operating losses… That's normal, people don't sell you healthy companies, and you have to continue to finance the losses while you build profitability.”
If the DNCG sanctioned its forecasts by sanctioning its club with a recruitment ban, a payroll control and a relegation to Ligue 2 as a precautionary measure at the end of the season, John Textor continues to trace its road and activate the levers supposed to bring back around $700 million to the parent company Eagle Football Holdings, “a sum more than sufficient” for OL as explained during its recent press conference.
A favorable signal for the IPO of Eagle Holdings?
If several levers (€55 million in sales to OL, €75-100 million in sales to Botafogo, sale of Crystal Palace for around €200 million, reduction in the Eagle Football Group payroll) have not yet moved forward , an important step has been taken regarding the listing on the New York Stock Exchange which should bring in between €300 and €500 million.
Indeed, in a press release published by Holdings, John Textor confirmed the entry of €96 million during a funding round. On this occasion, an initial fundraising of €38 million took place as pre-registration for the IPO. In the documents presented to the DNCG as well as to journalists, the American had actually mentioned this fundraising which should be carried out in two stages (for a total of €67 million) before the hoped-for entry of Holdings onto Wall Street. for January or February. We'll know pretty quickly if Textor's plan was that far-fetched or, on the contrary, realistic…
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