Tsangs Group, an innovation-focused family office that bridges East and West, and the family office of entertainment technology pioneer John Textor have signed a partnership agreement to jointly invest globally in entertainment, sports, and media.
Tsangs Group Chairman Patrick Tsang will act as a strategic advisor to John Textor for the Middle East and Southeast Asia, also providing specific counsel relating to his leadership interest in Eagle Football Holdings Ltd, Tsangs Group said in a statement on Monday.
Eagle Football Holdings Ltd. is a family of global football organizations with top-tier clubs and elite academies based in Lyon, London, Brussels, Florida and Rio De Janeiro.
This includes a Multi Football Club Strategy along with a planned listing of Eagle Football Holdings Ltd. on the New York Stock Exchange (NYSE) in 2024.
According to the statement, the reunion of Tsangs Group and John Textor is yet another opportunity to build on the success of their past collaboration, such as the enormously successful development of FaceBank Group, its acquisition of fuboTV Inc. in early 2020, and the initial public offering (IPO) of the combined companies later that same year.
Reaching a market capitalization of more than $8 billion in late 2020, the NYSE-listing of Facebank/fuboTV proved to be among the most successful public offerings of 2020.
“Tsangs Group is excited and looking forward to continuing to work with our good friend and partner, John Textor in entertainment, sports and media,
“He is a leader in this space and every time we have worked together, the outcome has been successful for all parties concerned,” said Patrick Tsang, Chairman of Tsangs Group.
Tsangs Group’s mission is to invest in global opportunities that allow them to exert positive influence and drive positive impact in Hong Kong, Asia and beyond.
Headquartered in Hong Kong, the firm has direct investments across the world.
“We are delighted to strengthen our cooperation with Tsangs Group that has been so fruitful in recent years as Patrick always puts the excellence and uniqueness of any project first, and he has built a business network in Asia and the Middle East like no other,” said John Textor.
John Textor, a former Chairman of fuboTV and digital media pioneer, is a key figure in United States and global sports, internet business, and a leading innovator in disrupting traditional media business models by merging the latter with hi-tech of the fourth industrial revolution.
In addition to professional football club ownership, Textor is the retired Executive Chairman (and formerly the largest shareholder) of fuboTV Inc. (NYSE: FUBO), an American streaming television service that focuses primarily on channels that distribute live sports, including NFL, MLB, NBA, NHL, MLS and international soccer, plus news, network television series and movies.
Textor previously served as Executive Chairman, Chief Executive Officer and Head of Studio of Facebank Group, Inc., a developer of digital human likeness for celebrities and consumers, which acquired fuboTV Inc. in April 2020.
Facebank Group, Inc. formally changed its name to fuboTV Inc. in August 2020.
In October 2020, fuboTV listed on the New York Stock Exchange, ultimately reaching a peak market valuation of more than $8 billion, becoming one of the most successful IPOs of 2020.