Authentic Brands is buying a majority stake in former soccer player David Beckham's brand-management company, according to a person familiar with the matter.
Authentic Brands will pay about $269 million (200 million pounds) for a 55% stake in Beckham's DB Ventures, said the person, who asked to not be identified because the matter isn't public.
The deal will give Authentic Brands revenue from one of the world's most high-profile athletes, who retired from soccer in 2013 and today pitches for brands including Tudor watches. The New York-based branding firm owns the rights to iconic stars including including Elvis Presley and Shaquille O'Neal, who is also a major investor in Authentic Brands.
A representative for Authentic Brands declined to comment and representatives for DBV didn't immediately respond to an email seeking comment. The Daily Mail first reported details of the Beckham deal.
Authentic Brands has branched out since Jamie Salter founded it in 2010, teaming with the mall landlords to buy retailers including Aeropostale and Brooks Brothers out of bankruptcy. In August, it agreed to buy sneaker brand Reebok from Adidas for about $2.5 billion.
Authentic Brands filed to go public last year but shelved the plan after agreeing in November to sell a 25% stake to CVC Capital Partners and HPS Investment Partners in a deal valuing the group at $12.7 billion, including debt.
THE WASHINGTON POST