Playmaker Capital Shareholders Overwhelmingly Approve Better Collective Acquisition

Playmaker Capital shareholders have delivered a resounding endorsement of Better Collective's acquisition plans. The deal, which was initially announced in November 2023, involves Better Collective acquiring Playmaker Capital for a total of €176 million. The transaction was projected to conclude in the first quarter of 2024.

The enthusiastic support from Playmaker Capital's shareholders has moved the acquisition one step closer to becoming a reality. An astonishing 99.999% of all votes cast expressed approval for the deal, with only a minuscule 0.001% in opposition.

While the approval from Playmaker Capital's shareholders is a significant milestone, there are still some final hurdles to overcome. The acquisition must receive the green light from the Ontario Superior Court of Justice and the Canadian heritage minister. Additionally, various other closing conditions must be met before the deal can be finalized.

If all these conditions are met, it is expected that the acquisition will be completed in early February.

Better Collective's decision to acquire Playmaker Capital was driven by a strategic vision. The acquisition is poised to solidify Better Collective's position as a market leader in South America and enhance its presence in the North American market. The company also anticipates improved scale and increased investments in product, technology, and marketing as a result of this merger.

Playmaker Capital, listed on the TSX Venture Exchange in Canada and the OTCQX in the US, boasts sports media brands like Futbolsites.net, Yardbarker, and The Nation Network, all of which will become part of Better Collective's portfolio through this acquisition.

Better Collective plans to finance the purchase using a combination of shares (65%) and cash (35%). The group intends to revisit its financial targets for the period 2023 to 2027 once the acquisition is completed.

Playmaker Capital's co-founder and CEO, Jordan Gnat, described the deal as a year-long endeavor, while Better Collective's co-founder and CEO, Jesper Søgaard, hailed it as an "important milestone" in the company's journey in the digital sports media sector.

The Playmaker Capital acquisition follows Better Collective's acquisition of American sports media company Playmaker HQ in July of the previous year. Playmaker HQ, based in Florida, focuses on creating original entertainment and sports content aimed at the US market. This move was seen as an opportunity for Better Collective to tap into a new and large audience of highly engaged sports fans.

With these strategic acquisitions, Better Collective is positioning itself as a major player in the global sports media and entertainment landscape.