Formation Group enter securitisation market

Formation Group, the sports marketing and management group, listed on AIM, announced the acquisition of the assets of financial brokerage firm, Transworld Sport. Transworld Sport was a consultancy firm owned by David McKnight who will run a newly created business Capital Sport Solutions Limited. Formation Group currently has four operating divisions: Sports Marketing, Wealth Management, Legal and Professional Services and Representation. CSS will become part of the Legal and Professional Services division. It is intended that Capital Sport Solutions will arrange finance for sporting clubs wishing to restructure their balance sheets or to accelerate the timing of cash inflows providing an alternative source of capital to traditional lenders such as the clearing banks who have become increasingly unwilling to lend to sporting clubs. Capital Sport Solutions will provide these facilities by attempting the securitization of anticipated future revenue streams such as transfer fees, contracted broadcast income or sponsorship moneys.

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