American private equity firm Silver Lake has acquired a minority stake in the Australian Professional League (APL), which operates the top-flight men’s and women’s soccer leagues in the country, it was announced on Tuesday.
Silver Lake will acquire a 33.3% equity share in the business that will value APL in the region of A$425 million ($302.56 million), with managing director Stephen Evans set to get a seat on the APL board.
The investment will focus on technology enhancements and innovation aimed at improving fan experience and developing the sport in Australia, with the growth of the women’s A-League marked out as a key target area.
“This valuation recognises the latent potential that has long existed in the professional game in Australia,” said A-Leagues chair Paul Lederer.
Evans added: “APL has a large, growing and passionate fan base across its thirteen teams and the organization has made great strides as it focuses on leveraging technology to strengthen Australian football and enrich the fan experience.”
APL took over the running of the men’s and women’s leagues after they were “unbundled” from Football Australia in December last year, thereby becoming independent of the governing body.
The latest investment comes after Silver Lake bought a 10% stake worth $500 million in City Football Group, the owners of Premier League champions Manchester City, in November 2019.
The Silicon Valley-headquartered company is also in talks to pick up a stake in New Zealand Rugby’s commercial operations, a move that has been criticised by a number of All Black players.
Source: Reuters.com