Wolves owner Fosun Sports sells minority stake to Peak6

  • Peak6 will provide “opportunities for capital, expertise, visibility and activation”
  • The company previously held stakes in Bournemouth and Rome football clubs
  • Fosun initially acquired Wolves in 2016 for £ 45million

US finance and tech firm Peak6 Investments has taken a minority stake in Chinese firm Fosun Sports, the holding company that operates top English football club Wolverhampton Wanderers.

The undisclosed stake makes Peak6 a new strategic partner for Wolves, the Chicago-based company coming on board to help accelerate the Premier League club’s growth in North America by providing capital, expertise and visibility. . Peak6 will also offer activation opportunities for Wolves and its esports division across the United States.

Peak6 and Wolves were already linked by the American esports organization Evil Geniuses. Peak6 acquired the competitive play outfit in 2019, with Wolves partnering with it in July to support reach into new geographic markets. Fosun Sports had also agreed to invest in Evil Geniuses.

Peak6 has previously held stakes in English second division club Bournemouth and AS Roma in Italian football, as well as in the Minnesota Wild of the National Hockey League (NHL).

The investment coincides with the official creation of Fosun Sports, a subsidiary of Fosun International and a group of sports and investment companies built around Wolves and the club brand.

Wolves said the formalization of Fosun Sports is “a clear sign of Fosun’s long-term commitment to Wolves”, in addition to providing “a more solid platform for new investment opportunities.”

It was reported in September 2019 that Fosun was looking to sell a 20% stake in Wolves and had drafted a tender document for potential investors that valued the West Midlands club at £ 350million (482million of US dollars) at the time. Fosun bought Wolves for £ 45million (US $ 62million) from Steve Morgan in 2016.

James Baboulas, partner general counsel of Peak6 and member of the company’s strategic capital team, is expected to serve on the supervisory board of Fosun Sports, while Peak6 capital management trader John Makowiec will become a director of the company mother of Wolves.

The addition of Peak6 adds another US investor to the Premier League, with Arsenal, Liverpool and Manchester United all having US owners.

“We have been in deep conversation with Peak6 for over a year and are delighted to officially welcome them to the Wolves family,” said Jeff Shi, Executive Chairman of Wolves.

“Our organizations have great synergy, from our mutual desire to challenge compliance, our openness to collaboration and of course our shared passion for sport, technology and success through hard work, intelligence and innovation.

“Earlier this summer, we announced a partnership with Evil Geniuses which allowed us to offer them a presence in China through our networks there, and now this partnership gives Wolves a strong foothold in all major regions of the world: the United States and the Americas, Europe and Asia. .

“In addition to great opportunities, we hope that Peak6 can help bring the knowledge, wisdom and learning of Fosun Sports and Wolves, and help Fosun Sports become a sports industry group with global influence and much of success.”

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