David Beckham Is Set To Sell 55% Of David Beckham Ventures To Authentic Brands Group
David Beckham Is Set To Sell 55% Of David Beckham Ventures To Authentic Brands Group. It has been reported that former English football player David Beckham is set to sell 55% Of David Beckham Ventures To Authentic Brands Group for £200m. Maano Madiba reported that, “David Beckham will sell a 55% stake in his company, David Beckham Ventures to Authentic Brands for £200m. Authentic will get a majority stake in DB Ventures which manages David Beckham’s brand and endorsement deals with Adidas, Diageo, H&M, L’Oreal, Tudor and Sands hotel group.”
David Beckham is an English former professional footballer, the current president & co-owner of Inter Miami CF and co-owner of Salford City. He played for Manchester United, Preston North End, Real Madrid, AC Milan, LA Galaxy, Paris Saint-Germain and the England national team, for which he held the appearance record for an outfield player until 2016. He is the first English player to win league titles in four countries: England, Spain, the United States and France. He retired in May 2013 after a 20-year career, during which he won 19 major trophies.
The mission of Authentic Brands Group is to evolve, transform and reimagine global brands through innovative business models, powerful storytelling, compelling content and immersive experiences. The company’s brands have a global retail footprint that spans the luxury, specialty, department store, mid-tier, mass and e-commerce channels as well as in freestanding stores and shop-in-shops around the world. Its regional locations are home to expert teams that execute market-specific initiatives with support from its New York headquarters, which continues to drive the global halo for all brands.
Selling off a majority stake in company shows that the company is either experiencing some financial difficulties and they are selling this stake to accumulate enough cash flow to keep the business going or the business is successful and it makes sense to sell at this point in its growth trajectory. The fact that the stake is being sold for £200m shows that the company is worth way more and it made business sense to sell now.
