Cabler NTL scores soccer club stake

Aston Villa getting $41.6 mil loan for 9.9% share

LONDON — Cabler NTL will take a 9.99% stake in the soccer club Aston Villa as part of a wider alliance between the two companies.

NTL subsid Premium TV will act as the agent for Aston Villa’s media rights and run any TV channel or Internet venture launched by the club.

The cabler will provide Aston Villa with an interest-free loan of £26 million ($41.6 million), which will be converted into the 9.99% stake after five years.

The deal is the latest in a recent flurry of linkups between TV companies and English soccer clubs. Satcaster BSkyB has led the way by taking 9.9% stakes in half a dozen teams, while NTL had already bought into Newcastle United.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety