Sportech in exclusive talks to sell football pools

Ivo Pinto of Norwich and Declan John of Cardiff City in action during the Sky Bet Championship match

Ivo Pinto of Norwich and Declan John of Cardiff City in action during the Sky Bet Championship match at Carrow Road, NorwichPicture by Paul Chesterton/Focus Images Ltd +44 7904 64026710/09/2016 - Credit: Paul Chesterton/Focus Images Ltd

Sportech has entered into exclusive talks with private equity firm Burlywood Capital to sell the Football Pools for £97.25m.

The deal for the world's oldest football gaming company will be bankrolled through a combination of debt and equity, with Sportech saying the deal 'represents an attractive opportunity' following a modernisation programme.

The company revealed that Burlywood's management team has proposed setting up a new AIM-listed company, chaired by Sportech's former chief operating officer Ian Hogg, which will then acquire the Pools.

Last month Sportech said that operating profit for the Liverpool-based Pools came in at £7m.

Sportech consists of three divisions - Sportech Racing and Digital, Sportech Venues and The Football Pools.