Cardiff-based Gambit Corporate Finance has provided strategic advice to the British and Irish Lions to protect its financial position from the current South Africa tour.
This enabled him to obtain committed credit facilities and emergency financing options.
It is understood that this included identifying lines of funding for the Dublin-based Lions company in the event that the tour is canceled due to Covid.
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While the TV and commercial deals remain in place, the Lions company has seen its revenue impacted by the loss of revenue it would have received from official tours of fans in the UK and Ireland. Gambit has provided support to resolve this funding issue and will continue to support the company in the future.
The Gambit team, led by Jason Evans (Partner), Simon Marsden (Director) and Michael Dunn (Executive), was responsible for identifying and approaching selected undisclosed funders, negotiating competitive terms and providing providing strategic advice to the Lions finance team on an ongoing basis. as circumstances evolved.
Thelma O’Driscoll, Chief Financial Officer of The British & Irish Lions, said: “We are very grateful to Gambit for their valuable input and advice on our funding options, as well as for their strategic advice during what remains a very difficult time. .
“Given the rapidly changing environment we find ourselves in and the evolving assumptions about restrictions due to the pandemic, we are delighted to have a number of funding options available that meet our needs. .
Gambit’s knowledge of the finance market provided a solution that exceeded our expectations and brought great comfort to our key stakeholders.
Mr. Evans said: “It has been a pleasure working with Thelma, her high caliber team and an iconic Lions sporting institution. In the context of the pandemic and the unique nature of the organization’s requirements, we are pleased to have offered several competitive funding options, which provide protection against a range of potential contingencies.
“We wish the team the best of luck in the final test against the Springboks this weekend and look forward to seeing continued success both off and on the field.”