$200 Million Buyout of GolTV Falls Through
The proposed agreement for GolTV to be purchased by SCP Worldwide for $200 million has fallen through, according to the St. Louis Business Journal.
The Business Journal reporter quotes industry sources speculating that the deal fell through because SCP Worldwide, owned by Dave Checketts, “could violate Major League Soccer non-compete rules because SCP, owner of the St. Louis Blues hockey team, also owns MLS team Real Salt Lake. But SCP executive Chris Bevilacqua said that was not true.”
Whatever the reason for the deal falling through, the news will come as a blow to GolTV after an agreement had been made in principle in March. Even at that time, questions were raised about the possibility of the deal being signed, however.
To soccer fans in the States, a concern now will be what TV network will acquire the rights to the South American World Cup qualifying matches for the 2010 World Cup because SCP Worldwide owns that rights. It was presumed that GolTV would get those rights.
For GolTV, meanwhile, the network has increased its awareness within the U.S. soccer community during recent months as the home to La Liga on television in the States, the growth in popularity of its American Soccer TV show, more professional graphics on screen, quality programming and growing popularity of presenters such as Phil Schoen and Ray Hudson.
Even though the deal has fallen through, GolTV is ripe for purchase. It’s a flourishing network with tremendous amounts of potential and now that the deal with SCP Worldwide has fallen through, there should be several interested parties willing to step in and begin serious business conversations.