Brera Holdings Signs Exclusive Letter of Intent to Acquire Italian Serie B Football Club
Dublin, Ireland and Milan, Italy, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Brera Holdings PLC ("Brera" or the "Company") (NASDAQ:BREA), the only publicly traded multi-club ownership company focused on football (soccer), has announced that it signed an exclusive letter of intent to acquire an Italian Serie B club (the "LOI" and the "Club").
This expected strategic transaction reinforces Brera's commitment to transforming and democratizing professional sports investment internationally and potentially offers the Company and its investors additional opportunities for increasing team-related revenue and capital appreciation from its intended investment in the Club.
The Club's current owners have accepted the LOI, and Brera is proceeding with confirmatory due diligence and preparation of the Share Purchase Agreement. This potential acquisition aligns with Nasdaq-listed Brera's stated intention earlier this year to expand its portfolio of multi-club ownership in professional sports teams.
As previously disclosed, in January 2024, Brera launched a proactive search for a Serie B club to leverage the benefits of multi-club ownership, enhancing competitive opportunities and allowing investors to engage more deeply with professional football.
Serie B is the second-highest division of the Italian professional football league system.
"This is a defining moment for Brera," said CEO, Pierre Galoppi. "Acquiring an Italian Serie B club not only elevates our portfolio but also underscores our commitment to making pro sports team ownership accessible to a broader audience. We believe this acquisition will open exciting new avenues for investment and fan engagement."
"Brera is dedicated to redefining sports ownership, and this acquisition is a key element of our strategic vision. As Brera continues with the transaction process, we will provide further updates."
ABOUT BRERA
Brera (NASDAQ:BREA) is focused on expanding its social impact football (American soccer) business by developing a global portfolio of emerging football and other sports clubs, which will provide increased opportunities to earn tournament prizes, gain sponsorships, and provide other professional football and sports-related consulting services.
The Company seeks to build on the legacy and brand of Brera FC, the first football club acquired by the Company in 2022. Brera FC, known as "The Third Team of Milan," is an amateur football association building an alternative football legacy since its founding in 2000. The Company owns the trademarked FENIX Trophy Tournament, a nonprofessional pan-European football competition recognized by UEFA, inaugurated in September 2021 and organized by Brera FC. "FENIX" is an acronym for "Friendly European Nonprofessional Innovative Xenial." BBC Sport has called the FENIX Trophy "the Champions League for amateurs," and ESPN covered the 2024 FENIX Trophy finals. In October 2022, the Internet Marketing Association, at its IMPACT 22 Conference, named Brera FC as its award recipient for "Social Impact Through Soccer," recognizing the Company's focus at an international level with this distinction.
In March 2023, the Company expanded to Africa by establishing Brera Tchumene FC, a team then admitted to the Second Division League in Mozambique, a country of nearly 32 million people. Brera Tchumene FC won its post-season tournament and, in November 2023, was promoted to Mocambola, the First Division in Mozambique. In April 2023, the Company acquired 90% of the European first-division football team Fudbalski Klub Akademija Pandev, now known as Brera Strumica FC, in North Macedonia, a country with participation rights in two major Union of European Football Association ("UEFA") competitions.
In June 2023, Brera acquired a strategic stake in Manchester United PLC, a portion of which was subject to a tender offer by Sir Jim Radcliffe and sold at a 74% realized gain. In July 2023, the Company completed the acquisition of a majority ownership in the Italian Serie A1 women's professional volleyball team UYBA Volley S.s.d.a.r.l. In September 2023, the Company assumed control of Bayanzurkh Sporting Ilch FC, a Mongolian National Premier League team, which became Brera Ilch FC when the football season resumed in March 2024. In January 2024, the Company announced the launch of a proactive search for an Italian Serie B football club target designed to bring multi-club ownership of the highest tiers of professional sports ownership to mass investors through the Company's Nasdaq-listed shares. In February 2024, the Brera Holdings Advisory Board was established with MLS founder and World Cup director Alan Rothenberg, luxury lifestyle executive Massimo Ferragamo, sports business leaders Paul Tosetti and Marshall Geller, and Italian football icon Giuseppe Rossi.
In June 2024, the North Macedonian women's football club Tiverija Strumica officially became part of the Brera family with the establishment of a joint-stock company controlled by Brera Holdings called Women's Football Club Tiverija Brera AD Strumica ("Brera Tiverija"). Brera Tiverija is now a wholly-owned subsidiary of Brera Strumica FC. Brera Holdings PLC is focused on bottom-up value creation from undervalued sports clubs and talent, innovation-powered business growth, and socially impactful outcomes. See www.breraholdings.com
Forward-Looking Statements
This press release contains information about our views of future expectations, plans, and prospects with respect to Brera's business, financial condition, and results of operations that constitute or may constitute forward-looking statements. Any and all forward-looking statements are based on the management's beliefs, assumptions, and expectations of Brera's future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Although Brera believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Brera does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. Forward-looking statements are subject to a number of factors, risks, and uncertainties, some of which are not currently known to us, that may cause Brera's actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Actual results may differ materially from the expectations discussed in forward-looking statements. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local, national and international economic conditions and other risks set forth in "Risk Factors" included in our filings with the SEC.
Company Contact Information:
Pierre Galoppi, Chief Executive Officer, Brera Holdings PLC
Email: [email protected]
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: [email protected]
