New five-year agreement with the Scottish Professional Football League also includes investment in digital and content strategy
Glasgow, Scotland / Zug, Switzerland – The Scottish Professional Football League (SPFL) has extended its partnership with Infront, a Wanda Sports Group company, as its exclusive media rights partner for its four leagues and two cup competitions in a new five-year agreement.
The extension – which comes a year after the initial partnership announcement – covers the international media rights for the SPFL Ladbrokes Premiership, SPFL Ladbrokes Championship, SPFL Ladbrokes League One & Two, as well as the Tunnock's Caramel Wafer Cup and Betfred Cup.
The new cooperation will also see Infront invest in a wide-ranging digital and content strategy to enhance the global exposure of the SPFL, expanding the scope of the previous agreement which began at the beginning of the 2018/19 season.
The League is Scotland’s top sporting competition and has enjoyed increased attendance numbers season-on-season for the last four years. Almost five million fans attended matches during the 2018/19 season, making it the best-supported league in European football per capita of the population.
Stephan Herth, Infront Senior Vice President Football said: "The extension of our partnership with the SPFL underlines our intentions from the outset 12 months ago. Namely that we discussed taking the league to a new level on the international stage – and we have delivered on that. This longer agreement allows us to build on that foundation and ensure that audiences continue to grow."
Neil Doncaster, SPFL Chief Executive, said: “Infront's appointment ahead of the 2018/19 season delivered real value for the SPFL and, after a thorough tender process, it made strong commercial sense to extend our agreement for a further five years. Infront’s remit now includes digital and content strategy, underlining our belief that they are ideally placed to help grow the popularity of Scottish football globally, which in turn will drive incomes for Scottish clubs.”
BEIJING, March 17, 2020 (GLOBE NEWSWIRE) -- Wanda Sports Group Company Limited (NASDAQ: WSG) (the “Company”) today announced that the Company signed a $240 million senior term loan facility agreement with Credit Suisse AG, Singapore Branch, enabling the Company to refinance and prepay its existing senior 364-day term loan facility, dated March 15, 2019.
Mr. Hengming Yang, President and CEO of Wanda Sports Group said, “We are very pleased with the new credit facility. The successful refinancing demonstrates continued confidence in our business and operations, despite the global challenges and uncertainties resulting from COVID-19. We will continue to work diligently on behalf of our partners, athletes, fans and shareholders.”
Mr. Brian Liao, Global CFO of Wanda Sports Group said, “As always, we are committed to lowering our costs, monitoring our use of cash, and balancing our investments with disciplined management of our existing financial resources to optimize shareholder returns. The new facility provides the Company with additional financial flexibility, while allowing it to take advantage of the current favorable interest rate environment to lower interest costs.”
The term of the new facility is 364 days. The pricing will initially be LIBOR plus an applicable margin, and the term is subject to certain mandatory prepayment terms. These and the other principal terms of the new facility are outlined further in a Form 6-K (Report of Foreign Private Issuer) submitted today to the U.S. Securities and Exchange Commission.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements can be identified by terminology such as “will,” “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “intend,” “potential,” “plan,” “goal” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. The Company disclaims any obligation to update or revise forward-looking statements that may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, other than as required by law.