SCP Worldwide's Bid To Buy GolTV Falls Through
The agreement by David Checketts' SCP Worldwide's to buy GolTV has fallen through. Both parties failed to come to terms on the deal. Though SCP partner Chris Bevilacqua attended GolTV's upfront event in mid-March, his firm had not secured funding to finalize its agreement to buy GolTV at that juncture. Industry sources said SCP's funding fell through after speculation that the deal could violate MLS non-compete rules, but Bevilacqua said that was not true. "Sometimes, for complicated reasons, transactions don't close and this is one of those cases," Bevilacqua said. "There were some differences and we couldn't close the gap" (Tripp Mickle, SportsBusiness Journal). Both Bevilacqua and GolTV COO Rodrigo Lombello said that while the deal was not consummated, the companies "are continuing to work together, and they already paired on a project after the decision was made not to close the transaction," with SCP-owned Real Salt Lake's June 7 match against the Chinese national team appearing on GolTV. Lombello: "There are a number of other possible things we can work together on" (MULTICHANNEL.com, 6/22).
|
