Latest news with #USL
Yahoo
14 hours ago
- Sport
- Yahoo
MLS Faces FIFA Fire on Promotion and Relegation
MLS Faces FIFA Fire on Promotion and Relegation originally appeared on Athlon Sports. FIFA president Gianni Infantino is rattling cages in American soccer. He's urging Major League Soccer (MLS) to adopt promotion and relegation, a system defining global soccer leagues. Citing Wrexham AFC's meteoric climb from non-league to England's Championship, Infantino argues it fuels competition absent in MLS's closed structure. Advertisement Wrexham's Hollywood-backed saga, fueled by Ryan Reynolds and Rob McElhenney, showcases soccer's underdog magic. Promotion and relegation let minnows dream big, toppling giants through grit. MLS, like the NFL or NBA, operates as a sealed fortress, with franchise fees soaring past $500 million, making owners wary of risking relegation according to Infantino's vision isn't just romantic; it's strategic. A 2016 study revealed 88% of 1,000 U.S. soccer fans backed promotion and relegation, craving heightened stakes says Yet, MLS's stability, with 2024 attendance hitting 11.4 million, suggests fans aren't fleeing its current model. 'It has to must be discussed with common sense and a dialogue in a positive spirit' - Gianni Infantino said in a 2025 fireside chat with Fox Sports. The United Soccer League (USL), MLS's rival, is stealing a march. In 2025, USL owners voted to launch a three-tier system with promotion and relegation by 2027, challenging MLS's dominance according to This move amplifies pressure on MLS to evolve or risk being outshone. Advertisement Infantino's claim that soccer will eclipse all U.S. sports in 'three to four, maximum five years' feels audacious. A 2025 poll of 2,501 Americans showed only 14% follow soccer, trailing football, basketball, baseball, hockey, and even the Olympics ( His timeline seems more hope than reality. MLS owners face a $500 million gamble. Relegation could devalue franchises, spooking investors who banked on guaranteed top-flight status says Unlike Wrexham's fairy tale, MLS clubs lack the cultural roots to survive a drop, critics argue. Football Role Models - Rob and Ryan are winning with Wrexham.(Photo by) Wrexham AFC's value has surged since Ryan Reynolds and Rob McElhenney purchased the club for $2.55 million in 2021. As of April 2025, following their third successive promotion to the EFL Championship, football finance expert Kieran Maguire estimated the club's valuation at approximately $191 million (£150 million). This marks a 7,400% increase from the 2021 price. Yet, Infantino's push taps into soccer's global soul. Promotion and relegation reward ambition, not just wallets. European giants like Manchester United thrive under this pressure, per UEFA's 2024 report. Advertisement MLS's closed shop has drawbacks. Stagnant teams face no real penalty, dulling competition. Fans crave the drama Wrexham embodies, where every match pulses with consequence. The USL's bold experiment looms large. If successful, it could force MLS's hand, reshaping American soccer. Infantino's dream hinges on MLS embracing risk over comfort. FIFA's challenge is clear: evolve or stagnate. MLS must weigh its fortress against soccer's beating heart. Will it dare to dream like Wrexham? This story was originally reported by Athlon Sports on Jun 23, 2025, where it first appeared.
Time of India
20-06-2025
- Business
- Time of India
USL to buy Greater Than gin maker
BENGALURU: United Spirits (USL), the Indian arm of global liquor major Diageo, will acquire a 100% stake in Nao Spirits & Beverages, the maker of popular Indian craft gin brands Greater Than and Hapusa, in a two-step transaction valued at about Rs 110 crore. Tired of too many ads? go ad free now The deal marks Diageo's push into India's fast-growing premium craft spirits segment. USL currently owns 30% of Nao Spirits. Founded in 2017 by Anand Virmani, Nao Spirits emerged as a leader in the craft gin firm reported a gross turnover of Rs 77.7 crore and net sales of Rs 34.8 crore in 2023-24. Virmani will continue to lead the business under Diageo's ownership.
Mint
19-06-2025
- Business
- Mint
United Spirits to buy out Greater Than gin maker Nao Spirits in a ₹110 cr deal
United Spirits Ltd (USL), the Indian arm of global liquor major Diageo Plc, is acquiring homegrown craft spirits maker Nao Spirits & Beverages Pvt. Ltd in a deal valued at about ₹ 110 crore, it said in a stock exchange filing late Thursday evening. The USL board approved the acquisition of an additional stake in Nao Spirits, which owns gin brands like Greater Than and Hapusa, on Wednesday. The company, which already holds 30% in the business, will buy 37,683 equity shares from existing shareholders in two tranches for around ₹ 53.8 crore. It will simultaneously invest approximately ₹ 56 crore via a fresh subscription of 31,820 equity shares and 27,577 compulsorily convertible preference shares (CCPS), it said in the filing. Following the completion of the first tranche and the new issuance, USL will own around 97.07% of Nao Spirits' paid-up capital on a fully diluted basis. The second tranche of the share purchase, to be completed later, will raise its ownership to 100%, making the craft spirits maker a wholly owned subsidiary of the Diageo arm. The USL board has also authorized a further investment of up to ₹ 20 crore in the alco-bev startup through equity or CCPS to support its working capital and business requirements. USL first acquired a stake in the company in March 2022 and has since completed a gradual buyout. Nao Spirits entered the premium gin market in 2016. 'Ventures, our investment arm, is dedicated to strengthening our portfolio by investing in disruptive alco-bev startups. The acquisition represents a pivotal step in exploring future growth opportunities in Indian craft spirits…,' said Praveen Someshwar, managing director and chief executive, Diageo India (USL). In September 2024, Mint reported that Diageo, the world's largest spirits company, planned to pour $100 million ( ₹ 840 crore then) into the country over the next three years to grow its premium portfolio and develop new products tailored to local tastes. Its chief executive Debra Crew, speaking to Mint, said India was now emerging as a key innovation hub for the company, where products like the homegrown single malt Godawan are first tested and refined before being launched in global markets. Crew added that Diageo was also open to investing in Indian craft spirit brands, citing the country's growing pool of young, affluent consumers. In addition to its investment in Nao Spirits, Diageo has set up a ₹ 45 crore innovation centre in Goa to support research and development of premium beverages. Data from international drinks consultancy IWSR showed that gin had a rapid ascent in the country before levelling off in 2024. The category grew a modest 1% in volume, signalling that the enthusiasm around homegrown craft gins may be cooling. According to industry estimates, at its peak two years ago, the craft gin segment sold roughly 350,000 cases annually. Insiders told Mint that those numbers have now plateaued, an indication that consumer interest may be shifting toward other white spirits. For the year ending 31 March 2025, Diageo India posted gross revenues of ₹ 26,780 crore, marking a 5.4% year-on-year increase. In the March quarter alone, net sales rose 10.5% to ₹ 2,946 crore, driven by a strong portfolio performance and the reopening of trade in Andhra Pradesh.
Time of India
19-06-2025
- Business
- Time of India
Diageo India to fully acquire Greater Than parent co for Rs 110 crore
BENGALURU: United Spirits Ltd (USL), the Indian arm of global liquor major Diageo, will acquire 100% stake in Nao Spirits & Beverages, the maker of popular Indian craft gin brands Greater Than and Hapusa, in a two-step transaction valued at about Rs 110 crore. The deal marks Diageo's push into India's fast-growing premium craft spirits segment. USL, which already owns 30% of Nao Spirits, said its board has approved the purchase of an additional 37,683 equity shares from existing shareholders in two tranches for Rs 53.8 crore. It will also subscribe to 31,820 new equity shares and 27,577 compulsorily convertible preference shares (CCPS) for Rs 56 crore. Following the completion of the first tranche of the share purchase and fresh subscription, expected by June 27, USL will raise its stake to 97.07%, making Nao Spirits a subsidiary. The second tranche, comprising about 3% held by one shareholder, is expected to close by June 2026. An interim voting agreement will be in place until full ownership is achieved. The acquisition is part of Diageo's broader strategy to deepen its portfolio in emerging premium segments. 'With the acquisition of Nao Spirits, we're unlocking new avenues for growth in Indian craft spirits,' said Praveen Someshwar, MD and CEO of Diageo India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Scam Exposed: What They Won't Tell You about zero trust! Expertinspector Click Here Undo 'The time is right to scale this business using Diageo's distribution and production expertise.' Founded in 2017 by Anand Virmani, Nao Spirits has emerged as a leader in the craft gin space. Its products, Greater Than and Hapusa, are award-winning, and the company recently launched a premium spiced rum brand, Pipa. The firm reported gross turnover of Rs 77.7 crore and net sales of Rs 34.8 crore in FY24, with 98% of revenue from India. Post-acquisition, Diageo India has also approved up to Rs 20 crore in additional investment into Nao Spirits to support working capital and future growth. Nao's brands will now be scaled alongside Diageo's global gin portfolio, which includes Tanqueray and Gordon's. Anand Virmani will continue to lead the business under Diageo's ownership. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
19-06-2025
- Business
- Mint
United Spirits to buy out Greater Than gin maker Nao Spirits in a ₹110 cr deal
United Spirits Ltd (USL), the Indian arm of global liquor major Diageo Plc, is acquiring homegrown craft spirits maker Nao Spirits & Beverages Pvt. Ltd in a deal valued at about ₹ 110 crore, it said in a stock exchange filing late Thursday evening. The USL board approved the acquisition of an additional stake in Nao Spirits, which owns gin brands like Greater Than and Hapusa, on Wednesday. The company, which already holds 30% in the business, will buy 37,683 equity shares from existing shareholders in two tranches for around ₹ 53.8 crore. It will simultaneously invest approximately ₹ 56 crore via a fresh subscription of 31,820 equity shares and 27,577 compulsorily convertible preference shares (CCPS), it said in the filing. Following the completion of the first tranche and the new issuance, USL will own around 97.07% of Nao Spirits' paid-up capital on a fully diluted basis. The second tranche of the share purchase, to be completed later, will raise its ownership to 100%, making the craft spirits maker a wholly owned subsidiary of the Diageo arm. The USL board has also authorized a further investment of up to ₹ 20 crore in the alco-bev startup through equity or CCPS to support its working capital and business requirements. USL first acquired a stake in the company in March 2022 and has since completed a gradual buyout. Nao Spirits entered the premium gin market in 2016. 'Ventures, our investment arm, is dedicated to strengthening our portfolio by investing in disruptive alco-bev startups. The acquisition represents a pivotal step in exploring future growth opportunities in Indian craft spirits…,' said Praveen Someshwar, managing director and chief executive, Diageo India (USL). In September 2024, Mint reported that Diageo, the world's largest spirits company, planned to pour $100 million ( ₹ 840 crore then) into the country over the next three years to grow its premium portfolio and develop new products tailored to local tastes. Its chief executive Debra Crew, speaking to Mint, said India was now emerging as a key innovation hub for the company, where products like the homegrown single malt Godawan are first tested and refined before being launched in global markets. Crew added that Diageo was also open to investing in Indian craft spirit brands, citing the country's growing pool of young, affluent consumers. In addition to its investment in Nao Spirits, Diageo has set up a ₹ 45 crore innovation centre in Goa to support research and development of premium beverages. Data from international drinks consultancy IWSR showed that gin had a rapid ascent in the country before levelling off in 2024. The category grew a modest 1% in volume, signalling that the enthusiasm around homegrown craft gins may be cooling. According to industry estimates, at its peak two years ago, the craft gin segment sold roughly 350,000 cases annually. Insiders told Mint that those numbers have now plateaued, an indication that consumer interest may be shifting toward other white spirits. For the year ending 31 March 2025, Diageo India posted gross revenues of ₹ 26,780 crore, marking a 5.4% year-on-year increase. In the March quarter alone, net sales rose 10.5% to ₹ 2,946 crore, driven by a strong portfolio performance and the reopening of trade in Andhra Pradesh. Quarterly profit after tax stood at ₹ 451 crore, up 17.4%, while gross profit climbed 13.4%, pushing the gross margin to 44.5%.
