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27 network and leader ESPN ( albeit by some distance ) and ahead of Sports Illustrated Media Group and CBS Sports .
CONVERTIBLE TIME
As can be seen from the EBITDA figures in Chart 26 , the company isn ’ t generating enough profits at an operating level to pay for its deals so during the second quarter it announced a $ 20m convertible loan with the investment firm Beedie Investments . It included a $ 15m initial advance and will be followed by two more tranches of $ 2.5m each over the term of the facility , which runs until 2026 . The facility involves an interest rate of 9 % a year plus a fee of 1.25 % a year .
This follows a series of funding rounds pre-float including $ 24m in go-public funding in the second quarter of last year and then $ 26m of bank credit facilities arranged at the end of the first quarter this year .
November 2022