Broughton planning £300m sports fund

British Airways chairman Sir Martin Broughton is planning to launch a fund aimed at sporting takeovers.

Broughton, who was the losing finalist in the race to take over bookmaker the Tote, is said to have gained kudos in the world of sports finance after handling the sale of Liverpool football club last year.

He is reportedly planning to raise between £200 million and £300m to set up a specialist acquisition vehicle, with a number of banks said to be interested. The fund would most likely be run by Broughton’s existing firm, Sports Investment Partners.