PI Global Investments
Private Equity

U.S. Soccer plans to reinvest ManU’s Pochettino buyout


U.S. Soccer CEO JT Batson said the funds Manchester United will pay to buy out Mauricio Pochettino’s contract will be available to “invest to make the biggest impact on our goals.” Batson had been asked whether the buyout payments would “go back to the benefactors who subsidized Pochettino’s salary” when he re-signed with USMNT, and whether the federation would “use outside funding to pay its next USMNT coach.” Batson, noting U.S. Soccer is a nonprofit, said funds are “used to help us hire great coaches, help us fund youth national team programs, coaching education” and noted there is a referee training camp “going on in a room around the corner.” He added U.S. Soccer’s supporters, sponsors, donors and fans are “very supportive around making sure we have the resources to achieve our goals and have world-class coaches” (SOCCER AMERICA, 11/13). ManU is “set to pay” a $10M release clause in Pochettino’s contract with the U.S. federation, “softening the blow and helping to cover compensation for his eventual replacement.” The federation “relied on the help” of hedge fund managers Ken Griffin and Scott Goodwin to fund Pochettino’s pay (BLOOMBERG NEWS, 11/13).

Batson and U.S. Soccer COO Dan Helfrich will “lead the search” for a new coach, assisted by USWNT coach Emma Hayes and former American defender Oguchi Onyewu (AP, 11/13).



Source link

Related posts

Pathpal Closes Growth Equity Investment, Appoints Travis Allan Managing Partner to Lead Global Expansion

D.William

UK VC fundraising hits record $6.9bn quarter, but Index accounts for half of capital

D.William

Connecticut pension picks WCAS, Verdane funds for more than $470m of new commitments

D.William

Leave a Comment