Stockholm-based Everysport Group AB, divided into the Everysport Media and Every Padel businesses, has reached an agreement with Better Collective A/S to divest a portfolio consisting of the brands and media sites SvenskaFans (Sweden’s largest online sports fan community with over 750 active contributors), Hockeysverige (the largest ice hockey news site in Sweden with around 1 million visitors per month), FotbollDirekt (a leading Swedish soccer media site with around 0.4 million visitors per month) and Innebandymagazinet (the largest floorball news site covering Swedish leagues and national teams).
The transaction takes place at a value of the media portfolio of around 45 million Swedish kronor (€3.8m). The total purchase price, after deducting certain working capital items, is approximately SEK 44 million (€3.7m) and will be paid in cash in three installments. Approximately SEK 22.5 million (€1.9m) will be paid at the beginning, about SEK 10.6 million (€0.9m) after six months and approximately another SEK 10.6 million (€0.9m) after 12 months. The closing of the transaction, which is subject to customary conditions, is expected to take place on Aug. 31, 2023.
On an annual basis, the media portfolio represents some 15 percent of Everysport’s net sales. The transaction strengthens the group’s financial position and enables increased investment and international expansion of the remaining brands in Everysport’s portfolio, including Elite Prospects.
The assets affected by the transaction have developed into some of Sweden’s largest news media in their respective sports under Everysport’s leadership. The group has successfully marketed the websites and built a strong advertising and subscription business with approximately 8,000 subscribers associated with the brands in the aforementioned media portfolio. The transaction strengthens the financial position of Everysport Group and allows for increased international investments in the ice hockey website Elite Prospects and the rest of Everysport’s portfolio, which after today’s transaction includes 25 brands in the sports and media sector.
