Carlos Slim’s investment in the Spanish soccer team Real Oviedo adds entertainment assets to his growing portfolio as the world richest person seeks to stockpile video content.
The acquisition of a controlling stake in the soccer team for 2 million euros ($2.5 million) represents Slim’s second sports transaction this year. Using his mobile-phone company America Movil SAB (AMX:US), Slim bought 30 percent stakes in two Mexican soccer teams Aug. 31. The Real Oviedo transaction was earlier reported by newspaper El Pais.
Slim wants to boost video content, including sports, to help lure online viewers from Grupo Televisa SAB (TV:US), which is the world’s largest Spanish-language broadcaster and owns Club America, one of Mexico’s most popular soccer teams. Televisa has been encroaching on Slim’s territory by offering home-phone and Internet service and entering the mobile-phone business.
Arturo Elias, a spokesman for Slim, confirmed the transaction in an e-mail and didn’t respond to questions about the reason for the investment. Real Oviedo has been playing in Spain’s Second Division B in recent years and was seeking to raise 1.9 million euros in new funds by midnight today to avoid insolvency, El Pais reported.
Elias also confirmed the transaction in his Twitter account today. “Friends of the Real Oviedo thousand thanks for inviting us to participate with you, it’ll be an honor to be part of that big institution,” he wrote in his profile.
He made the investment using his company Inmobiliaria Carso SA, according to a statement issued by the billionaire and reproduced by El Pais on its website.
To contact the reporters on this story: Jose Enrique Arrioja in Mexico City at email@example.com; Crayton Harrison in Mexico City at firstname.lastname@example.org
To contact the editor responsible for this story: Sylvia Wier at email@example.com