Football pools linked with IPO deal

LIVERPOOL’s football pools business could become a stand-alone public company for the first time under an ambitious £100m takeover plan drawn up by a former executive, according to reports.

Ian Hogg, the former chief operating officer of the pools’ owner Sportech, is in talks to create a new London-listed company to buy the institution, sources told The Sunday Times.

The newspper said Hogg has the backing of City fund managers for the takeover and is being advised by stockbroker Cenkos Securities.

Sportech has granted Hogg preferred bidder status ahead of other suitors, including Canadian company Contagious Gaming, sources said. Hogg is willing to pay almost £100m.

The potential deal comes two months after the pools attracted a number of bidders in the wake of an approach from Netplay, the AIM-listed gaming company backed by Israeli investor Teddy Sagi. Netplay pulled out of the running after it was drawn into a bidding war.

Hogg’s consortium has reportedly been given time to prove it can finance the takeover. If a deal is signed, the newly created public company will raise cash from its shareholders.

The pools was launched in 1923 and was once a weekly fixture for 10 million Britons, though only 315,000 people play today. It paid out more than £3.2bn to winners and donated over £1.3bn to sports, the arts and good causes in its 90 year history.

 It has been based in Liverpool since its launch.


Investec is advising Sportech on the disposal.