Bridgepoint Is Set to Return €2 Billion to Investors in Weeks
Bridgepoint Group Plc is planning to return about €2 billion ($2.3 billion) to investors in one of its flagship funds over the next couple weeks, according to people familiar with the matter, at a time of increased focus on private equity returns.
The UK buyout firm generated part of the proceeds from the sale of its investment in MotoGP owner Dorna Sports S.L. to Liberty Media Corp. in a transaction valuing the company at €4.2 billion including debt, the people said. The rest came from the sale of French insurance broker Kereis to Advent at a €2 billion enterprise value, according to the people.
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Yahoo
an hour ago
- Yahoo
Lyon appeal relegation to Ligue 2 by financial regulator
John Textor took over as Lyon's majority owner in 2022 (CLEMENT MAHOUDEAU) Seven-time Ligue 1 champions Lyon said on Tuesday they would appeal their relegation to the second-tier by French football's financial watchdog. At a hearing earlier in the day, Lyon were unable to convince the regulator (DNCG) to lift the restrictions it had put on the club in November. Advertisement "Over the past few months, we have worked closely with the DNCG, meeting all of its demands with equity investments exceeding the amounts requested," the club said in a statement." After the meeting, Lyon's president John Textor said he remained confident of avoiding the drop to Ligue 2 for next season, where the club has not played since 1989. "Our liquidity situation has improved considerably," he said. American Textor took over as Lyon's majority owner in December 2022 from long-standing boss Jean-Michel Aulas, who had overseen unprecedented success at the French outfit. Advertisement Textor, 59, also holds stakes in Brazilian side Botafoga, Belgian club Molenbeek. Earlier this week he sold his 43 percent stake in Premier League outfit Crystal Palace. According to the BBC, they were sold for 190 million pounds to Woody Johnson, the owner of the NFL's New York Jets. Lyon have reduced their salary bill with attacker Alexandre Lacazette and goalkeeper Anthony Lopes released. They have sold Rayan Cherki to Manchester City and Maxence Caqueret to Como. Textor said his Eagle group has also put 83 million euros into the club. "Thanks to the equity contributions from our shareholders and the sale of Crystal Palace, our cash position has improved considerably, and we have more than sufficient resources for the 2025-2026 season," said the club statement. Advertisement - 'Sadness' - Lyon qualified for next season's Europa League after finishing sixth in the French top-flight. If their relegation is confirmed, they would be replaced in Ligue 1 by Reims. Lyon won seven consecutive French titles between 2002 and 2008, under Aulas. "It's a terrible blow to all those who love Lyon" Aulas said on X on Tuesday. "For 36 years I made sure that such a situation could not happen. "I gave everything to build a solid, respected, ambitious club that was financially healthy. "Today, it's sadness that dominates. And an immense failure to understand," the 76-year-old added. Only five clubs have won Ligue 1 more often. Paris Saint-Germain hold the record with 13 titles. Lyon are set to begin their pre-season on July 7. eba/hpa/iwd/pb
San Francisco Chronicle
an hour ago
- San Francisco Chronicle
Lyon relegated to French soccer's second tier amid ongoing financial problems
PARIS (AP) — Seven-time French champion Lyon was relegated to the second tier on Tuesday because of ongoing financial irregularities. The decision followed an audit of the club's finances by the French league's soccer watchdog, known as DNCG. French sports daily L'Equipe estimated Lyon's current debt at 175 million euros ($203 million). Lyon was expected to appeal the decision. The decision comes after the DNCG had already provisionally relegated Lyon to Ligue 2 in November, with the club reporting at the time that it had more than 500 million euros ($581 million) of debt. A transfer ban was also imposed in the January transfer window. Lyon is owned by American businessman John Textor, who has stakes in Brazil's Botafogo and Premier League team Crystal Palace. Textor was present for the hearing in Paris on Tuesday. He had been optimistic it would be successful for Lyon, which has been trying to balance the books. On Monday, Premier League side Crystal Palace announced that New York Jets owner Woody Johnson signed 'a legally binding contract' to buy Textor's shares. Textor has a 43% stake in the London club. Reports have placed the price between $220 million and $260 million. Two weeks ago, Lyon received a much-needed cash injection by selling coveted playmaker Rayan Cherki for 36 million euros. But the club has been under growing pressure. Two years ago, the DNCG decided to monitor the club's transfer activities, saying its moves on the market would be limited under 'a framework for wage costs and transfer indemnities.' Lyon won its seven league titles from 2002-08 and reached the Champions League semifinals in 2020. Lyon narrowly lost to Manchester United in the Europa League quarterfinals and missed out on a cash windfall when it failed to qualify for next season's Champions League after finishing sixth in Ligue 1. ___
Hamilton Spectator
an hour ago
- Hamilton Spectator
Lyon relegated to French soccer's second tier amid ongoing financial problems
PARIS (AP) — Seven-time French champion Lyon was relegated to the second tier on Tuesday because of ongoing financial irregularities. The decision followed an audit of the club's finances by the French league's soccer watchdog, known as DNCG. French sports daily L'Equipe estimated Lyon's current debt at 175 million euros ($203 million). Lyon was expected to appeal the decision. The decision comes after the DNCG had already provisionally relegated Lyon to Ligue 2 in November, with the club reporting at the time that it had more than 500 million euros ($581 million) of debt. A transfer ban was also imposed in the January transfer window. Lyon is owned by American businessman John Textor, who has stakes in Brazil's Botafogo and Premier League team Crystal Palace. Textor was present for the hearing in Paris on Tuesday. He had been optimistic it would be successful for Lyon, which has been trying to balance the books. On Monday, Premier League side Crystal Palace announced that New York Jets owner Woody Johnson signed 'a legally binding contract' to buy Textor's shares. Textor has a 43% stake in the London club. Reports have placed the price between $220 million and $260 million. Two weeks ago, Lyon received a much-needed cash injection by selling coveted playmaker Rayan Cherki for 36 million euros. But the club has been under growing pressure. Two years ago, the DNCG decided to monitor the club's transfer activities, saying its moves on the market would be limited under 'a framework for wage costs and transfer indemnities.' Lyon won its seven league titles from 2002-08 and reached the Champions League semifinals in 2020. Lyon narrowly lost to Manchester United in the Europa League quarterfinals and missed out on a cash windfall when it failed to qualify for next season's Champions League after finishing sixth in Ligue 1. ___ AP soccer:
