Park Lane Announces Closing of Acquisition of Bologna Football Club 1909 and Sale of Minority Interest in the Cincinnati Reds
Park Lane also becomes part-owner in storied soccer club Bologna Football Club 1909
LOS ANGELES, Oct. 15, 2014 /PRNewswire/ -- Park Lane, the country's premier sports investment bank, has closed two major sports franchise transactions this month: the acquisition of historic Bologna Football Club 1909 and the sale of a minority interest in Major League Baseball's Cincinnati Reds. The two deals were announced today by Park Lane Founder and Managing Director Andrew Kline.
"To sell an interest in the Reds and advise on the purchase of and become a partner in Bologna FC all in the course of 10 days are monumental events for Park Lane," said Kline. "I am very proud of our outstanding team for delivering these results for our clients, and we are thrilled to be a partner in one of the most historic football clubs in the world."
Bologna Football Club 1909 is an Italian football club based in Bologna, Italy. The club was formed in 1909 (and reformed in 1993) and is a founding member of Serie A. During its illustrious history, Bologna FC has won the Serie A championship seven times, making it one of the most successful clubs in Italian history. The team plays its home games at Stadio Renato Dall'Ara, which has a seating capacity of 38,279.
"I'm pleased to have led the Bologna FC negotiations and excited to work side by side with our exceptional team at Park Lane to provide advisory services on transactions involving iconic sports franchises like these," said Rick Perna, Managing Director and Head of Sports Advisory & Finance, Park Lane.
The Cincinnati Reds are one of Major League Baseball's prized franchises, as one of the most accomplished clubs in baseball history with some of the sport's most notable past and present players. The team has won five World Series titles—seventh-most in Major League Baseball—along with nine National League pennants and 10 division titles, and continues its success today, with three playoff appearances in the past five seasons. The team's scenic Great American Ball Park is widely viewed as one of baseball's most impressive stadiums and has been selected to host the 2015 Major League Baseball All-Star Game.
About Park Lane
Park Lane is an investment bank founded to provide sports finance advisory services to a variety of clients in the sports industry as well as invest growth capital in sports-based companies. Its bankers supply mergers and acquisitions advisory, corporate finance, consulting, financial advisory, and restructuring to sports leagues, teams, investors, and sports-related businesses. The firm has worked on deals involving the NFL, MLB, NBA, NHL, EPL, Serie A, MLS, NASCAR, National Lacrosse League, and Arena Football League, among others. Some of its recent sports-based business clients include Street League Skateboarding, The Whistle, BACK9NETWORK, LockerDome, Wedge Buster, and Netpulse.
SOURCE Park Lane
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