Expect investor activity in Premier League this summer, say Raine Group
Raine Group, the bank behind the sale of Chelsea and Sir Jim Ratcliffe’s minority purchase of Manchester United, has said to expect heightened activity this summer as Premier League clubs move to sell stakes and raise capital.
The respected US merchant bank, which has recently advised on NBA Europe and franchise sales in the Hundred and Indian Premier League, has become the go-to firm when clubs and leagues are looking to raise capital.
And amid expectation that a number of clubs could seek to go to market, Raine Group chiefs have said there is likely to be activity between owners and potential investors across England’s top flight.
Raine Group prediction
“If we look at it from the investor side,” Jason Schretter, Raine Group partner and co-head of Europe, told CityAM, “if I’m selling or raising capital for a Premier League team, people are going to take a serious look at that.
“It has gotten to another level in terms of stature, and people lean in immediately on a call you’re saying, ‘I’ve got something in the Premier League’.
“I think you’re going to see some activity this summer – there’s already some rumours of some things that are happening. I think you’re going to see a couple more teams that go to market and either look to raise capital or look to sell and that’s just on the basis that the Premier League has distanced itself from the other leagues at the moment.”
Around the grounds
Newcastle United’s owners, Saudi Arabia’s Public Investment Fund, is reportedly considering giving up a minority shareholding in the Magpies.
Elsewhere there are reports of investment opportunities in the likes of Crystal Palace and recently relegated West Ham United.
Tottenham Hotspur have been subject to takeover bids within the season but the Lewis family – the club’s largest shareholder through its vehicle ENIC – told fans yesterday that the club would not be sold, though they did not rule out welcoming new investors in a letter to fans.
“I can’t break news today,” Schretter added. “I’m hopeful we’ll be working on something soon in the market, but it won’t be Chelsea. We’re not working on Chelsea.
“There’s been rumours in the market that we’re working on Manchester United again. That is not true, we are not.
“And Tottenham, we’d love to work on [that]. So if anyone’s out there that wants to give us a call we’re happy to have a conversation.
“We’ll see what happens, it’s an exciting market.”
ENIC is largely made up of the Lewis’ family trust and former executive Daniel Levy and the club has been under their ownership since 2001 – the longest stint in the Premier League.
The Glazers have been Manchester United’s controlling owners since 2005 while Sheikh Mansour and Tony Bloom acquired Manchester City and Brighton in 2008 and 2009 respectively.