Cardiff-based Gambit Corporate Finance has provided strategic advice to the British & Irish Lions to protect its financial position from the current tour to South Africa.
This has seen it securing committed debt facilities and contingency funding options.
It is understood that this included identifying funding lines for the Lions’ Dublin-based company in the event of the tour having been cancelled due to Covid.
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While the TV and commercial deals remain in place, the Lions company has seen revenues impacted from the loss of income it would have received from official tours of fans from the UK and Ireland. Gambit provided support to address this funding issue and will continue to support the company going forward.
The Gambit team, led by Jason Evans (partner), Simon Marsden (director) and Michael Dunn (executive), were responsible for identifying and approaching undisclosed selected funders, negotiating competitive terms and providing strategic guidance 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 guidance on our funding options, as well as their strategic advice during what remain very challenging times.
“Given the rapidly changing environment we find ourselves in and the evolving assumptions around restrictions due to the pandemic, we are delighted to have a number of funding options available which meet our needs.
Gambit’s knowledge of the funding market has delivered a solution which exceeded our expectations and has provided significant comfort to our key stakeholders.”
Mr Evans said: “It was a pleasure working with Thelma, her high calibre team and an iconic sporting institution in the Lions. Against the backdrop of the pandemic and the unique nature of the organisation’s requirements, we are delighted to have provided several competitive funding options, which offer protection against an array of potential contingencies.
“We wish the team well for the final test against the Springboks this weekend and look forward to seeing continued successes both off and on the pitch.”