~ Expands the Foley-led Partnership Technique of Multi-Membership Possession to Develop a Distinct World Soccer Asset Portfolio ~
LAS VEGAS, January 13, 2023–(BUSINESS WIRE)–Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae” or the “Firm”) immediately introduced that Black Knight Soccer and Leisure, LP (“BKFE” or the “Partnership”), a partnership led by William P. Foley, II (“Foley”) and majority owned by Cannae, entered right into a strategic partnership and agreed to amass a major minority possession curiosity in FC Lorient (the “Membership”), a French Ligue 1 soccer membership . The settlement supplies BKFE a chance to speculate extra capital after this season.
The funding in FC Lorient advances BKFE’s multi-club possession technique initiated final month with the acquisition of AFC Bournemouth, an English Premier League membership. The Partnership is constructing a world community of world-class soccer golf equipment, gamers, and actual property belongings that can produce operational synergies, speed up participant growth, allow environment friendly participant migration throughout BKFE’s community of owned and operated golf equipment, whereas driving each robust on-field and monetary outcomes.
“We’re excited to announce a strategic partnership and funding in FC Lorient immediately,” Foley stated. “Loïc Fery has efficiently constructed a best-in-class soccer membership and can be an excellent companion as we construct BKFE into a number one multi-club soccer operator. I stay up for partnering with Loïc and his workforce to speed up the success of FC Lorient and BKFE.”
For the final fourteen seasons, FC Lorient has operated below the management of Loïc Fery (“Fery”), after turning into the youngest president of a Ligue 1 membership. Fery’s administration has been central to the expansion and growth of the Membership. FC Lorient can be a key contributor to, and beneficiary of, BKFE’s multi-club possession technique. In BKFE, FC Lorient provides an operator with a monitor file of success in Invoice Foley, who based the Vegas Golden Knights of the Nationwide Hockey League and recorded essentially the most profitable season for an growth franchise in any sport, having reached the Stanley Cup Ultimate within the inaugural season.
Fery commented, “FC Lorient represents a unprecedented alternative, which additionally includes nice duties. Since I took over the membership in 2009, every of my selections has been motivated by the target of structuring and sustaining the membership on the highest degree. Ligue 1 has an ambition of excellence for French soccer, and I need our workforce to be a part of this more and more aggressive future.Invoice’s expertise and ends in skilled sport (notably with the Vegas Golden Knights), his ardour, his decided character, and his world method to soccer with Bournemouth satisfied me to affix forces. I’m very pleased to make this chance a actuality for FC Lorient and welcome Invoice to FC Lorient.”
FC Lorient is a fixture of Ligue 1, the highest skilled soccer league in France, having competed on the highest degree of French soccer for 13 of the final 16 seasons. Ligue 1, which refers to itself as “The League of Skills”, was a precedence for BKFE as it’s dwelling to among the finest academies in Europe and is thought for creating among the most proficient gamers on this planet. FC Lorient at the moment sits in 6th place in Ligue 1 and has the 4th youngest roster, a testomony to the Membership’s capability to successfully develop and make the most of its youth expertise.
About Cannae Holdings, Inc.
We primarily purchase pursuits in working firms and are engaged in actively managing and working a core group of these firms. We’re a long-term proprietor that secures management and governance rights of different firms primarily to interact of their strains of enterprise and we’ve no preset time constraints dictating once we promote or get rid of our companies. We consider that our long-term possession and energetic involvement within the administration and operations of firms helps maximize the worth of these companies for our shareholders. Cannae’s present principal holdings embody Dun & Bradstreet Holdings, Inc. (NYSE: DNB), by which Cannae holds 79 Million shares or 18% curiosity, and Alight, Inc. (NYSE: ALIT), by which Cannae owns 52.5 Million shares representing a ten% curiosity. Cannae additionally holds 6 Million shares, or 4%, of Ceridian HCM Holdings, Inc. (NYSE: CDAY), 27 Million shares, or 24%, of System1, Inc. (NYSE: SST), and three.4 Million shares, or 5.5 % of Paysafe (NYSE: PSFE). Cannae’s different principal holdings embody Sightline Funds, of which Cannae owns 32%.
About FC Lorient
FC Lorient is a French skilled soccer membership primarily based in Lorient, Brittany, France. The Membership was based in 1926 and at the moment competes in Ligue 1, the best degree of the boys’s French soccer league system. Lorient gained the Coupe de France in 2002. FC Lorient has a profitable track-record of creating world-class footballers highlighted by its strong youth academy. FC Lorient additionally has a number one ladies’s part and is energetic in creating and selling ladies’s soccer. The Membership performs its dwelling matches on the 18,000-seat Stade Yves Allainmat (“Le Moustoir”), which hosts each summer season the well-known European Celtic Competition and serves as a multi-purpose venue, staging worldwide sporting occasions in addition to main live shows and exhibits .
Ahead-Trying Statements and Threat Components
This doc incorporates forward-looking statements that contain a number of dangers and uncertainties. Statements that aren’t historic details, together with statements relating to our expectations, hopes, intentions, or methods relating to the long run are forward-looking statements. Ahead-looking statements are primarily based on administration’s beliefs, in addition to assumptions made by, and knowledge at the moment accessible to, administration. As a result of such statements are primarily based on expectations as to future monetary and working outcomes and usually are not statements of reality, precise outcomes could differ materially from these projected. We undertake no obligation to replace any forward-looking statements, ensuing from new info, future occasions or in any other case. The dangers and uncertainties which forward-looking statements are topic to incorporate, however usually are not restricted to: adjustments on the whole financial, enterprise and political circumstances, adjustments within the monetary markets, and adjustments within the circumstances ensuing from the outbreak of a pandemic, such because the novel COVID-19 (“COVID-19”); the general impression of the outbreak of COVID-19 and measures to curb its unfold, together with the impact of governmental or voluntary mitigation measures resembling enterprise shutdowns, social distancing, and stay-at-home orders; our potential incapability to search out appropriate acquisition candidates, acquisitions in strains of enterprise that won’t essentially be restricted to our conventional areas of focus, or difficulties in integrating acquisitions; vital competitors that our working subsidiaries face; compliance with intensive authorities regulation of our working subsidiaries; dangers and limitations on our strategic and working flexibility associated to the Funding Firm Act of 1940.
This doc needs to be learn at the side of the dangers detailed within the “Assertion Concerning Ahead-Trying Data,” “Threat Components” and different sections of the Firm’s Kind 10-Q, 10-Okay and different filings with the Securities and Change Fee.
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Jamie Lillis, Managing Director, Solebury Strategic Communications, 203-428-3223, email@example.com