On today’s show I explain the Panini Group Buyout rumors that are swirling in Italy. Don’t be fooled, this will effect the American business – and many feel it already has. The deal hinges on the company getting a bank to extend them a whopping $170 million line of credit.
Here’s a link to some of the key articles:
This site explains some of the details of the deal. Essentially an owner is trying to exit his 23% stake in the company. A newly formed org called Dolly srl will be formed – pending bank financing of roughly $170m.
A note about this: This insider has been trying to exit Panini for some time. This has been the most public attempt however to exit his stake in the company.
Another very interesting article was published with details of Panini’s financials – rare for a private company to do this unless they need money/are for sale. The most interesting takeaway is Panini’s entire business is FIFA World Cup soccer stickers. While that isn’t breaking any news – keep in mind FIFA is a charity – and the World Cup is intended to benefit that charity. While no doubt Coke, Adidas, and others benefit from sponsoring the World Cup – none rely 100% on the event like Panini does. It’s rumored that with FIFA cleaning up it’s act … Panini won’t be allowed to net so much profit that should be going back to the charity. It’s also rumored that’s why the insider has been trying to leave the company for several years.
A listener e-mailed in with tax questions. There’s a really good thread about it here.
Finally I run down the QB/WR/RB’s I like and don’t like leading up to the NFL draft.
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