06/19/2017 | Press release | Distributed by Public on 06/19/2017 18:15
CARSON, Calif. - Major League Soccer announced on Monday that Soccer United Marketing has repurchased Providence Equity Partners ownership stake in SUM, which is the media and marketing arm of the league.
Providence invested in SUM in January 2012 and financial terms of the deal were not disclosed.
'Major League Soccer has seen tremendous growth since 2012,' said MLS Commissioner Don Garber. 'We would like to thank Jonathan and his team at Providence for their support and contributions over the last five years. We are a healthier and stronger business because of their investment.'
Before selling their stake, Providence had been the sole outside investor in SUM and in addition to providing capital, the group served on the board of governors for MLS.