Saturday 20 January 2018

Inside Project Evergreen: The Racing Post

IBRC controls about €200m of loans owed by the British horse-racing newspaper, one of the most famous sports publications in the world.

The loans date back to the company's purchase in 2007 by Dublin private equity firm FL Partners, who bought it for £170m (€203m) from the Trinity Mirror Group with loans from Anglo.

The company includes an online betting arm, and managed an operating profit of £13.4m in 2012, after growing sales by £2m to £52.4m.

Rumoured interested bidders include former chairman of the British Horseracing Board Martin Broughton, and News UK, the British subsidiary of Rupert Murdoch's News Corp, which also owns 'The Sun' and 'The Times'. Its current owners are also thought to be submitting a bid.

Irish Independent

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