The owner of Brentford, the Premier League football club, has engaged advisers to canvas offers of investment that could value one of the sport’s biggest recent success stories at more than £400m.
Sky News has learnt that Matthew Benham, who initially invested in the Bees in 2007, has hired Rothschild to oversee a process that could involve the sale of a controlling stake.
Rothschild is expected to kick off a formal process in the near future, with football industry experts anticipating that Brentford will become the latest in a string of top-flight clubs to draw interest from US-based investors.
Under Mr Benham’s stewardship, Brentford has become one of the most impressive clubs in English football, rising from the lower divisions to become a Premier League club in 2021.
It has also moved from its long-standing Griffin Park home to a new stadium near Kew Bridge.
One insider said that the current owner was open-minded about whether to sell a minority or majority shareholding in Brentford, but that any deal would be expected to value it at more than £400m.
If he does decide to offload a controlling stake, Mr Benham would want to remain as a minority investor for the long term, the insider added.
Such a price tag would reflect the soaring valuations of Premier League clubs even as uncertainty persists about the sport’s future financial arrangements.
Sky News revealed this week that the Premier League had called an emergency meeting of its 20 clubs for the end of this month in an effort to make progress towards a landmark settlement with the English Football League.
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Image: Brentford are currently 14th in the Premier League table. Pic: Reuters
The meeting on 29 February will come at around the same time that Lucy Frazer, the culture secretary, publishes the Football Governance Bill, which intends to hand a new watchdog powers to impose a financial redistribution agreement on the sport.
An additional gathering has also been scheduled for 11 March if it is required to get a sufficient number of top-flight clubs voting in favour.
The New Deal is projected to cost Premier League clubs anywhere between £837m and £925m over six years, with the final figure dependent upon the payment of an £88m sum for the current season.
Last week, Sky News revealed that Ms Frazer had urged English football’s 92 professional clubs to resolve their differences over the prospective settlement.
Image: Brentford’s Nathan Collins (left) and Nottingham Forest’s Callum Hudson-Odoi. Pic: PA
The culture secretary held separate talks with Premier League and English Football League (EFL) club executives last Thursday during which she told them not to wait until the new watchdog is established to put the finishing touches to the New Deal.
Talks over the agreement have been dragging on for many months.
In December, Richard Masters, the Premier League chief executive, notified clubs that it was calling a halt to further talks with the EFL because of divisions about the scale and structure of the proposed deal.
At a meeting with shareholders earlier this month, however, he suggested that negotiations had again become more constructive.
There has been significant unrest among Premier League clubs over the cost of the subsidy to the EFL, as well as the lack of certainty about the regulator’s powers and other financial reforms being driven forward by the Premier League.
Chelsea was sold last year to a consortium of US investors, while AFC Bournemouth also recently changed hands.
A spokesman for Brentford declined to comment on Rothschild’s appointment or its potential valuation, but reiterated a statement issued to Bloomberg News in December, which said: “Given the recent rise and growth of our club and the changing shareholder landscape within the Premier League, it’s no surprise that there has been interest in investment opportunities at Brentford FC.
“While Matthew Benham’s commitment to the club remains as strong as it ever was, it is only natural, and perhaps even essential, for us to carefully explore what new investment could potentially mean for the future of Brentford FC.
“We must not stand still and we remain absolutely determined to safeguard the long term future of Brentford FC and to remain competitive in the world’s most challenging and successful league.”
Trade talks between the UK and the United States are “moving in a very positive way”, according to the White House.
President Donald Trump’s press secretary Karoline Leavitt spoke about the likelihood of the long-discussed agreement during a press briefing.
In Westminster, there are hopes such a deal could soften the impact of the Trump tariffs announced last month.
Leavitt told reporters: “As for the trade talks, I understand they are moving in a very positive way with the UK.
“I don’t want to get ahead of the president or our trade team in how those negotiations are going, but I have heard they have been very positive and productive with the UK.”
She said Mr Trump always “speaks incredibly highly” of the UK.
“He has a good relationship with your prime minister, though they disagree on domestic policy issues,” she added.
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“I have witnessed the camaraderie between them first hand in the Oval Office, and there is a deep mutual respect between our two countries that certainly the president upholds.”
Image: White House Press Secretary Karoline Leavitt said she was positive about a deal. Pic: AP
He was careful to not get ahead of developments, however, saying: “I think an agreement is possible – I don’t think it’s certain, and I don’t want to say it’s certain, but I think it’s possible.”
He went on to say the government wanted an “agreement in the UK’s interests” and not a “hasty deal”, amid fears from critics that Number 10 could acquiesce a deal that lowers food standards, for example, or changes certain taxes in a bid to persuade Donald Trump to lower some of the tariffs that have been placed on British goods.
Mr McFadden’s tone was more cautious than Chancellor Rachel Reeves’ last week.
She had been in the US and, speaking to Sky News business and economics correspondent Gurpreet Narwan, the chancellor said she was “confident” a deal could be done.
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But she sought to play down fears that UK standards could be watered down, both on food and online safety.
“On food standards, we’ve always been really clear that we’re not going to be watering down standards in the UK and similarly, we’ve just passed the Online Safety Act and the safety, particularly of our children, is non-negotiable for the British government,” Ms Reeves said.
The government is being urged to end the “absolute scandal” of new homes being built without solar panels.
Doing so would cut both household bills and greenhouse gases that cause climate change, the Local Government Association (LGA) said in a new report.
Just four in 10 new homes in England come with solar power, according to separate figures from the industry body Solar Energy UK.
Although that is a significant three-fold increase over the space of a year, the LGA said making it mandatory would benefit bill-payers and the climate for years to come, saving people £440 per year.
The UK lags behind its neighbours in the European Union, which last year adopted new legislation demanding all new residential buildings come with solar panels from 2030.
Greenpeace UK called it an “absolute scandal that homes are built without rooftop solar panels in this day and age”.
Its campaigner, Lily Rose Ellis, said: “Given the soaring cost of electricity, our desperate need to cut planet-heating emissions, and the relatively low cost of installation to housebuilders, solar panels on all new builds should be mandatory.”
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Last year, Labour promised a “rooftop revolution” that would see millions more homes fitted with solar panels.
But they have been accused of wavering over proposals to make it mandatory, as it also courts the house-building industry to help it meet its target to build 1.5 million homes during this parliament.
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The LGA wants the government to allocate them long-term funding in the upcoming spending review so they can help the country meet net zero.
A spokesperson for the Ministry of Housing, Communities and Local Government said they plan to “maximise the installation of solar panels on new homes” in its long-delayed new regulations, the Future Homes Standard, due later this year.
The Home Builders Federation said “Moving forward, to meet the ever more challenging carbon reductions set by government, we will see solar on the overwhelming majority of new homes, albeit it is not appropriate in every situation.”
Electricity demand is also growing as the country switches to electric cars and heating, and builds more data centres.
All this requires more wind and solar farms, as well as 1,000 kilometres of new cables to carry the electricity from where it is generated – often a wind farm in the North Sea – to where it is used in urban areas far away.
In parts of the country like East Anglia, a row has been simmering over whether to run those cables overhead on pylons or, to protect countryside views, underground.
A hefty new report by the Institution of Engineering and Technology today weighed in on the debate, finding underground cables are on average 4.5 times more expensive than overhead lines.
Liam Hardy, head of research at thinktank Green Alliance, said: “Those costs need to go somewhere. They go on to all of our electricity bills. And of course, it’s the poorest in society for whom those bills make up a bigger percentage of their income.
He added: “What they want to see is value for money as we build out that clean infrastructure that we need.”
The government has promised communities disrupted by the new infrastructure that they should reap some of the benefits, including giving households near new pylons £2,500 off their energy bills over 10 years.
Marks & Spencer (M&S) has ordered hundreds of agency workers at its main distribution centre to stay at home as it grapples with the unfolding impact of a cyberattack on Britain’s best-known retailer.
Sky News has learnt that roughly 200 people who had been due to undertake shift work at M&S’s vast Castle Donington clothing and homewares logistics centre in the East Midlands have been told not to come in amid the escalating crisis.
Agency staff make up about 20% of Castle Donington’s workforce, according to a source close to M&S.
The retailer’s own employees who work at the site have been told to come in as usual, the source added.
“There is work for them to do,” they said.
M&S disclosed last week that it was suspending online orders as a result of the cyberattack, but has provided few other details about the nature and extent of the incident.
In its latest update to investors, the company said on Friday that its product range was “available to browse online, and our stores remain open and ready to welcome and serve customers”.
“We continue to manage the incident proactively and the M&S team – supported by leading experts – is working extremely hard to restore online operations and continue to serve customers well,” it added.
It was unclear on Monday how long the disruption to M&S’s e-commerce operations would last, although retail executives said the cyberattack was “extensive” and that it could take the company some time to fully resolve its impact.
Shares in M&S slid a further 2.4% on Monday morning, following a sharp fall last week, as investors reacted to the absence of positive news about the incident.