MetLife Investment Management To Provide Debt Financing To English Football League
MetLife Investment Management, the institutional asset management business of MetLife, Inc., is to provide $161mn (£117.5mn) in financing to the English Football League to strengthen the league’s financial support of its Championship Clubs.
The financing agreement will allow the EFL to provide Championship Clubs with immediate additional funding following a difficult 12 months where many clubs’ finances were impacted by the COVID-19 pandemic. Championship Clubs have now played the equivalent of a full season without spectators in attendance due to pandemic preventative measures, impacting gate receipts and other matchday revenue streams.
“We know that a healthy and vibrant football environment with strong and resilient clubs is important for the U.K.,” said Steven J. Goulart, president of MetLife Investment Management and chief investment officer, MetLife, Inc. “We’re pleased to work with the EFL so that they can support their Championship Clubs with additional funding in a time of need, further building a strong and sustainable football landscape and ultimately supporting the communities of which they are a part.”
MIM’s Private Capital group has been an active participant in the global sports sector over the last 15 years, with the firm investing across a range of transactions, including stadium construction and team financing in countries across Europe. The group comprises private placements, infrastructure and structured credit investment management, and is active across a wide range of industry sectors.
© The Sortino Group Ltd
All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or scanning or otherwise, except under the terms of the Copyright, Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency or other Reprographic Rights Organisation, without the written permission of the publisher. For more information about reprints from AlphaWeek, click here.