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Thursday, May 30, 2024

Global Advance Placed in Administration, NEP Steps in for A-Leagues

Australian outside broadcast provider Global Advance Production Services Pty Ltd and its associated company Streamlined Productions Pty Ltd have been placed in voluntary administration, a move which saw hurried negotiations between administrators Grant Thornton Partners, the Australian Professional Leagues (APL)”, Ten-Paramount, and NEP Australia to keep A-League soccer matches on-air over the Easter long weekend.

According to an APL spokesperson, “We were made aware last Wednesday that Global Advance (GA), the independent production company that produces the telecast for our women’s and men’s matches, had gone into administration.

“We are extremely disappointed in the manner in which this has come to our attention, and the risk this has placed on our fan, player, club, broadcast and commercial obligations.

“We have been let down, and will be working with the administrators to recoup monies owing to APL.

“We have reached agreement with NEP Australia to produce all Isuzu UTE A-League Men and Liberty A-League Women matches for the remainder of the regular season and the 2024 Finals Series. We thank them for their cooperation, flexibility and expertise at such short notice.

“Finally, we want to acknowledge all of the great staff at GA, along with their suppliers, that have been impacted by this. They have played a big role in bringing A-Leagues football to screens over the past few years and we are thinking of them through this tough time.”

Expressions of Interest for Global Advance and Streamlined Productions Assets

The Administrators have ceased trading Global Advance Production Services Pty Ltd and Streamlined Productions Pty Ltd and are undertaking an expressions of interest campaign to sell the fixed assets, intellectual property, and other business assets associated with the Companies.

Key assets include but are not limited to:

  • world-class advanced remote production facilities
  •  fit-for purpose studio in Randwick
  •  four fully fitted outside broadcast vehicles and a number of support/ancillary vehicles

The Administrators are in control of the sale process and are seeking Non-Binding Indicative Offers (“NBIOs”) from interested parties for the acquisition of its business and assets.

According to Said Jahani, Financial Advisory Partner at Grant Thornton, “Preference will be given to offers that seek to acquire all assets and reflect the additional capacity that such assets provide to a strategic acquirer who may be an existing trade player or a party seeking to establish a foothold in the market.”

Interested parties are invited to submit a non-binding offer prior to 4:00PM (AEST) on Friday 12 April 2024.

To participate in the process and receive access to disclosure materials, contact Grant Thornton by email: conor.corcoran@au.gt.com

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