OL GROUPE TO ACQUIRE A STAKE IN ASVEL
TONY PARKER BECOMES AN OL AMBASSADOR
The exclusive discussions initiated on 22 March 2019 have resulted in a partnership agreement with ASVEL LDLC (men's team) and LYON ASVEL FEMININ (women's team), signed on 21 June 2019.
Firstly, the agreement provides for OL Groupe to take a minority stake in the ASVEL club: €3.4 million for 25% of the men's team and €0.3 million for 10% of the women's team. In this regard, OL Groupe will be represented on ASVEL's governance bodies. Secondly, OL Groupe agrees to exchange any shares of ASVEL Basket SASP, the entity that incorporates the men's team (ASVEL LDLC), which the entity's other shareholders tender to OL Groupe during a five-year period, in return for OL Groupe shares, either existing or to be issued.
At the same time, a strategic agreement was signed and will enable Olympique Lyonnais to benefit from the international image and standing of Tony Parker, in particular in the USA and China, two countries in which OL Groupe intends to continue expanding. The agreement also calls for synergies between OL Groupe and ASVEL LDLC, in particular in ticketing, sponsoring and more generally in commercial activities. In this regard, OL Groupe will guarantee ASVEL (men's and women's teams) an overall minimum annual revenue of €2.5 million over a period of several years.
Tony Parker and Jean-Michel Aulas want to ensure that ASVEL LDLC retains its strong attachment to Villeurbanne. In this regard, all ASVEL LDLC games will be played in the Astroballe until OL Groupe's future arena is built. Thereafter, all Jeep Elite league games and certain Euroligue games will continue to be played in Villeurbanne. Conversely, ASVEL LDLC is expected to play its premium Euroligue games in OL Groupe's future arena once it is operational.
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