UEFA fines Ibrahimovic over shares in Bethard

The governing body for European football has said it will fine Sweden’s Zlatan Ibrahimovic €50,000.

Switzerland.- UEFA has decided to fine AC Milan and Sweden forward Zlatan Ibrahimović €50,000 after concluding that he had maintained a financial interest in a betting operator.

The governing body for European football launched an investigation after Swedish media outlet Aftonbladet reported that Ibrahimovic owned 10 per cent of Sweden and Spain-facing Bethard through his stock company Unknown AB.

Ibrahimovic, who joined Sweden’s national side for its World Cup qualifiers, is said to have acquired shares in Gameday Group Plc, Bethard’s sole shareholder, in March 2018.

UEFA’s disciplinary rules, along with FIFA’s codes of ethics, prohibit players from having direct or indirect financial interests in betting companies. Violations can be punished with a fine of up to €100,000 and a ban for up to three years.

The Uefa Appeals Body said it would fine Ibrahimović after finding him to be in violation of Article 12(2)(b) of the Uefa Disciplinary Regulations.

UEFA ordered the player to cease all association with Bethard, for whom he has also served as a brand ambassador.

It has also issued a warning and a fine of €25,000 for AC Milan for violation of article 12(2)(b) since the club’s player was found to have financial links to a betting company.

Esports Entertainment to acquire Bethard

This week, Esports Entertainment Group announced that it has agreed to buy Bethard from the Malta-based Gameday Group for up to €22.1m.

The group will pay an initial €16m, followed by an earn-out based on 12 per cent of Bethard’s net gaming revenue for each of the next two years. Considering that Bethard generated $31m in 2020, that could result in a total price of around $27m if revenue remains steady.

Bethard was founded in Sweden and has licences to operate in Sweden and Spain. Bethard pulled out of the British market last year.