Ares Appoints Administrators to Textor-Linked Football Firm

One of Ares Management Corp.’s flagship football investments has entered administration, according to a filing on Friday.

Restructuring advisory firm Cork Gully has been appointed administrator of Eagle Football Holdings Bidco Ltd after the company defaulted on its debt, according to a statement by representatives of the administration firm circulated on Friday. Administration, a form of insolvency proceedings in the UK, can be initiated by a company’s directors, shareholders, or as in this case by a creditor.