American private equity firm Silver Lake has acquired a minority stake in the Australian Professional League (APL), which operates the top-flight men's and women's A-League football competitions.
Silver Lake will take a 33.3 percent equity share in the business that will value APL in the region of AU$425 million, with managing director Stephen Evans having a seat on the APL board.
The investment will focus on technology enhancements and innovation aimed at improving fan experience, and developing the sport in Australia and New Zealand, with the growth of the women's A-League marked out as a key target area.
"This valuation recognises the latent potential that has long existed in the professional game in Australia," says A-Leagues chair Paul Lederer.
Evans adds: "APL has a large, growing and passionate fanbase across its 13 teams and the organisation has made great strides, as it focuses on leveraging technology to strengthen Australian football and enrich the fan experience."
APL took over the running of the men's and women's leagues, after they were "unbundled" from Football Australia in December last year, thereby becoming independent of the governing body.
The latest investment comes after Silver Lake bought a 10 percent stake worth NZ$500 million in City Football Group - the owners of Premier League champions Manchester City - in November 2019.
The Silicon Valley-based company is also in talks to pick up a stake in NZ Rugby's commercial operations - a move that has been criticised by several All Black players.
Reuters
