Current Public Statements

October 29, 2024

Eagle Football Holdings announces Total Company Recapitalization Plan

in preparation for planned Initial Public Offering

Company to File S-1 Registration Statement, under Confidentiality with SEC, targeting 1Q 2025 for planned IPO on the New York Stock Exchange

October 29, 2024; Palm Beach Gardens, Florida: Eagle Football Holdings today announced the launch of a comprehensive recapitalization plan targeting aggregate equity and debt financing of $1.1 billion, to be achieved through the following:

Up to $100 million of common equity, through the pre-IPO issuance of common shares of Eagle Football;
An estimated $500 million of common equity, through the issuance of common shares of Eagle Football in connection with its planned 1st quarter IPO;
Up to $500 million to retire existing senior debt, to be achieved through the sale of its interest in Crystal Palace Football Club and, possibly, the placement of long-term senior notes;

Eagle Football is a diverse sports, entertainment and technology company which sees global fan engagement as its principal business strategy. As the Company seeks to re-capitalize and strengthen a balance sheet that was built for acquisitions, prospective investors will be given the opportunity to review Eagle Football’s performance, with remarkable strides made in both sports competition and in the growth of shareholder value. Key highlights of our first two years in business are as follows:

Eagle Project (Brazil): SAF Botafogo

Acquired as a spin-off from a legislatively-restructured social club, Eagle Football has resurrected Botafogo from bankruptcy in the 2nd division (Serie B) to become the current leader of Serie A, with the season’s end fast approaching. Botafogo is also a current semi-finalist in Copa Libertadores, only two games away from a chance at its first-ever South American championship;
Botafogo’s revenues increased from $21 million, as inherited in early 2022, to $79 million for 2023, and are expected to exceed $100 million for 2024 (not including anticipated proceeds as a Copa Libertadores finalist/winner);
Social club debt, for which Botafogo has solidarity, has been reduced from $184 million in 2021 to less than $70 million in the 4th quarter of 2024;
Paid monthly membership has increased from near zero in 2021 to more than 80,000 members in October 2024, resulting in frequents sell-outs (and crowds of more than 45,000) at both regular season and ‘cup’ games;
Squad value has grown from an estimated $23 million in early 2022 to more than $220 million in 2024, featuring 4 of Eagle Football’s 6 player contributions to the Brazil national team. Additional national call-ups include Argentina, Venezuela, Paraguay, and Angola.

Eagle Project (Europe): Olympique Lyonnais

Acquired control of football decisions in May 2023, while the club was operating under sanctions which limited player-transfer spend and forced a reduction of player salary expense;
Endured the worst start of recent Olympique Lyonnais history, in 2023/24, earning only 7 points in 14 rounds of competition, a level of relegation threat which had never been overcome in the history of French football;
Restructured the roster and football staff, at the mid-year window, to become the best performing club in Ligue 1 for the second half of the season, moving up to 6th place and earning qualification for Europa League.

Eagle Project (Global): Player Development, Asset Creation and Player Transfers

Eagle Football’s global collaborative football project has produced an unprecedent number of national team call-ups, positioning Eagle Football (and its clubs) as the most successful multi-club operator in the development of globally-marketable players in 2024/25;
National team call-ups for Eagle Football include an unprecedented 6 players called up for Brazil, more than any other club in the world. Additional call-ups include players for Argentina (2), Belgium (2), England (3), Canada, Croatia, France, Georgia, Ghana, Nicaragua, Paraguay, Senegal, Venezuela, and the USA;
Player transfer revenues reached $115 million in 2023/24, and are projected to exceed $225 million in 2024/25.

Eagle Football has engaged a group of globally-recognized investment banks to lead the aggregate equity and debt recapitalization plan, with a leading debt specialty firm focused on debt refinancing, and the group of banks focused on equity capitalization and the proposed IPO (such banks to be disclosed to the SEC in a confidential filing expected in early November 2024). The Raine Group is leading the sale process for Eagle Football’s interest in Crystal Palace Football Club, through which we expect to identify a finalist and buyer in early November 2024.

Reporting Disclosure: Eagle Football Holdings Limited, in a corporate reorganization intending to complete its IPO through a non-UK (and non-Europe) consolidating entity, has changed its basis of accounting and financial reporting to comply with United States generally accepted accounting principles (U.S. GAAP). While there have been no delays associated with the preparation and completion of the Company’s annual audits, nor have there been any filing delays proposed by Eagle Football’s primary auditors, as a result of the GAAP accounting change, Eagle Football Group (France) has been asked by its ‘statutory auditors’ to more comprehensively document the change from IFRS to U.S. GAAP in certain reporting and compliance environments. Eagle Football has therefore decided to postpose the release of its annual accounts in France, from October 26 to October 31 (prospectively). Eagle Football Holdings Limited (while not a publicly listed company in the UK) has chosen to delay filings in the United Kingdom, as the audited financials are prepared in US GAAP and therefore do not comply with UK GAAP or IFRS, as required by UK Companies House. Beginning in 2025, Eagle Football Holdings will report only in U.S. GAAP, will report its financials only through SEC filings in the U.S., and will no longer report under UK standards as part of this anticipated corporate reorganization.