MetLife Investment Management to Provide USD 161 Million / GBP 117.5 Million in Financing for English Football League
30 March 2021 - 5:33AM
Business Wire
Capital will support EFL’s Championship Clubs
with additional funding following financial pressure sparked by
COVID-19 in the U.K.
MetLife Investment Management (MIM), the institutional asset
management business of MetLife, Inc. (NYSE: MET), today announced
it will provide USD 161 million / GBP 117.5 million in financing to
the English Football League (EFL) to strengthen the league’s
financial support of its Championship Clubs.
The financing agreement will allow the EFL to provide
Championship Clubs with immediate additional funding following a
difficult 12 months where many clubs’ finances were impacted by the
COVID-19 pandemic. Championship Clubs have now played the
equivalent of a full season without spectators in attendance due to
pandemic preventative measures, impacting gate receipts and other
matchday revenue streams.
Rick Parry, chair of the English Football League, noted: “This
past week has marked an unwelcome anniversary for football with
supporters now being unable to attend matches for a 12-month
period, resulting in multiple negative consequences. This is
therefore a much welcome, timely package of support for
Championship Clubs, whose operations have continued to incur
significant costs without generating anywhere near normal levels of
revenue.”
“I’d like to thank MetLife Investment Management for the
positive, proactive approach they adopted throughout our
negotiations and for meeting our requirements in what are a unique
set of circumstances. The support will be pivotal to Clubs being
able to re-evaluate their financial position and help them start to
plot their way out of the pandemic and plan with greater certainty
for 2021/22 when we are hoping for the return of fans in large
numbers.”
“We know that a healthy and vibrant football environment with
strong and resilient clubs is important for the U.K.,” said Steven
J. Goulart, president of MetLife Investment Management and chief
investment officer, MetLife, Inc. “We’re pleased to work with the
EFL so that they can support their Championship Clubs with
additional funding in a time of need, further building a strong and
sustainable football landscape and ultimately supporting the
communities of which they are a part.”
MIM’s Private Capital group has been an active participant in
the global sports sector over the last 15 years, with the firm
investing across a range of transactions, including stadium
construction and team financing in countries across Europe. The
group comprises private placements, infrastructure and structured
credit investment management, and is active across a wide range of
industry sectors, including general industrial, healthcare,
professional services, retail, utilities, electric transmission,
renewable power and social housing, among others. As of December
31, 2020, MIM had $130.9 billion in private capital assets under
management1 and $659.6 billion in total assets under
management.2
About MetLife Investment Management
MetLife Investment Management, the institutional asset management
business of MetLife, Inc. (NYSE: MET), is a global public fixed
income, private capital and real estate investment manager
providing tailored investment solutions to institutional investors
worldwide. MetLife Investment Management provides public and
private pension plans, insurance companies, endowments, funds and
other institutional clients with a range of bespoke investment and
financing solutions that seek to meet a range of long-term
investment objectives and risk-adjusted returns over time. MetLife
Investment Management has over 150 years of investment experience
and as of December 31, 2020 had $659.6 billion in total assets
under management.
About MetLife MetLife, Inc. (NYSE:
MET), through its subsidiaries and affiliates (MetLife), is one of
the world’s leading financial services companies, providing
insurance, annuities, employee benefits and asset management to
help its individual and institutional customers navigate their
changing world. Founded in 1868, MetLife has operations in more
than 40 markets globally and holds leading positions in the United
States, Japan, Latin America, Asia, Europe and the Middle East. For
more information, visit www.metlife.com.
Forward-Looking Statements The
forward-looking statements in this news release, such as “can,”
“continued,” “may,” “plan,” “plot,” and “will,” are based on
assumptions and expectations that involve risks and uncertainties,
including the “Risk Factors” MetLife, Inc. describes in its U.S.
Securities and Exchange Commission filings. MetLife’s future
results could differ, and it has no obligation to correct or update
any of these statements.
Endnotes 1 As of December 31, 2020.
At estimated fair value. Private Capital AUM is comprised of
Private Corporates, Private Infrastructure, Residential Mortgage
Loans, Alternatives, Middle Market Private Capital and Private
Structured Credit.
2 Total assets under management is comprised of all MetLife
general account and separate account assets and unaffiliated/third
party assets, at estimated fair value, managed by MIM.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210329005685/en/
For Media: James Murphy +1 917-225-6303
james.p.murphy@metlife.com
MetLife (NYSE:MET)
Historical Stock Chart
From Mar 2024 to Apr 2024
MetLife (NYSE:MET)
Historical Stock Chart
From Apr 2023 to Apr 2024