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.”
