Serengeti Asset Management and Life Capital Partners Sign with Half of the Clubs in the Brazilian Championship to Purchase a 20% Interest in their Media and Commercial Rights

NEW YORK, July 5, 2023 /PRNewswire/ -- Serengeti Asset Management, a leading global investment firm ("Serengeti"), Life Capital Partners ("LCP"), a specialized Brazilian alternative investment firm, and their operating partner, 1190 Sports, are pleased to announce innovative agreements with half of teams in the top two (2) flights of the Brazilian Championship, with more teams expected to join in the near term.  Under the agreements, the investor group will purchase a 20% stake in the media and commercial rights of the participating teams for fifty (50) years, starting in 2025.  This occasion marks the beginning of an unprecedented partnership to centralize and revolutionize Brazilian football.

"By consolidating the management of the media and commercial rights of the participating clubs, we are excited to help transform Brazilian Championship football into one of the best and most exciting leagues in the world, and look forward to more teams joining us as they see the success we bring to our partners and their fans," stated Joseph A. LaNasa ("Jody"), the Founder and CEO of Serengeti Asset Management.

As part of its commitment to transparency and collaboration, the partnerships will be built on a foundation of shared values, financial fair practices integrity, and mutual respect.

"We are thrilled to announce the signing of these landmark rights agreements.  The agreements have attracted significant interest from across the Brazilian football landscape because it offers a balanced distribution of revenues amongst the clubs." said Carlos Gamboa, Founder and Board Member of Life Capital Partners.  "We would like to thank the clubs for their support and we look forward to working together as we look to reshape the future of Brazilian football, with the creation of a league for the clubs, run by the clubs."

Including Liga Forte Futebol ("LFF") and the Union Group, a separate independent bloc of Serie A teams, twenty-four (24) have signed the two (2) rights purchase agreements ("RPA") and three (3) additional teams are completing internal procedures before joining.

Under the RPAs, the media and commercial rights will be professionally managed to maximize their value for the participating clubs and all stakeholders.

The consolidation and strategic promotion of the collective media and commercial rights should lead to a substantial increase in the value of our participating clubs.  This unified approach also should better captivate and engage fans, both domestically and internationally.  Serengeti, LCP and 1190 Sports' expertise in global investments and deep understanding of the sports industry will be instrumental in elevating the league's stature and unlocking these new opportunities.

The investment will provide resources to enhance the club infrastructure and operations, strengthen talent development and youth programs and help retain and attract top-tier players to the league.  Furthermore, it will facilitate the implementation of strategic initiatives aimed at increasing fan engagement and elevating the overall experience.

"We believe our efforts alongside LFF and the Union Group will result in a more stable and growing financial situation that will not only benefit the league and individual teams but the overall footballing landscape of Brazil.  With more resources available to reinvest into club operations, player development, and retention of highly sought-after talent, fans will now be able to enjoy seeing their star players further develop towards their peak years.  We look forward to showcasing the next generation of Brazilian football with a more professionalized product, exciting competition, and increased global exposure," said Aria Vossoughi, a Managing Director of Serengeti Asset Management.

Mário Bittencourt, President of Fluminense, expressed enthusiasm about the agreements: "The formation of LFF is already a crucial step towards reducing the imbalance in Brazilian football, increasing the revenues of LFF clubs, and enhancing their competitiveness.  Building on this bloc, we will continue to pursue the formation of the Unified League based on principles of increasing balance and competitiveness in Brazilian football, following the best practices of the global market and aiming to transform the Brazilian League into one of the top three leagues in the world," he said.

LFF clubs, Internacional, Náutico, ABC and Atlético-MG have not yet signed a rights purchase agreement as they are required to complete internal procedures before joining.  Coritiba, an LFF club, signed the RPA alongside Botafogo and Cruzeiro, members of the Union Group.  Additional clubs are expected to sign in the near term.

The transaction is subject to customary closing conditions and regulatory review.

Serengeti was advised by G5 Partners and Access Media Advisory.  LFF was advised by XP, Alvarez & Marsal and Live Mode.

About Serengeti Asset Management:

Founded in 2007 by Jody LaNasa, Serengeti Asset Management addresses complex special situations through structure and creativity.  The firm uses a flexible and opportunistic approach to its value-driven investments.

For more information visit: www.serengeti-am.com

About Life Capital Partners (LCP):

LCP is an independent Asset Management firm based in Brazil, founded by entrepreneurs and investors Wilson de Lara, Carlos Gamboa, and João Leitão.  With a solid experience in the alternative investment industry and structured transactions, both in Brazil and international markets, LCP focuses its efforts on sectors such as Sports Media, Real Estate and Private Equity.

For more information visit: www.lifecapitalpartners.com.br 

About 1190 Sports:

1190 Sports is a leading sports rights management company that specializes in the commercialization and management of sports distribution and media rights.  As a subsidiary of Fz Sports, a global sports media and technology company, 1190 Sports is dedicated to professionalizing the sports industry and connecting sports fans with the content they love.

For more information visit: www.ferzar.com and www.1190sports.com

SOURCE Serengeti Asset Management