Battle intensifies between Solak, Southampton's owner, and London fund as he defends £170m stake
Fiery Billionaire Battle: Dragan Solak Takes on BC Partners in Legal Tussle over £170m Debt
Dragan Solak, the flamboyant billionaire and owner of Southampton FC, is going toe-to-toe with London-based private equity titan BC Partners in a high-stakes legal showdown. The dispute, brewing since early June 2025, revolves around an alleged £170 million debt.
Solak, the founder of United Group (a telecoms and media powerhouse with last year's revenue of €2.8bn), accuses BC Partners of mishandling the company's affairs and refusing to pay out €200 million in bonuses, due to him and his management team, stemming from the €1.5 billion sale of subsidiaries in his native Serbia.
The drama unfolded when Solak and United Group's CEO, Victoriya Boklag, were unceremoniously booted out of their roles. Solak claims this was BC Partners' revenge for his lawsuit against their holding company, Summer Parent, over the unpaid bonuses. A move, he argues, that not only goes against Dutch law but also jeopardizes United Group's future and value.
He's criticized BC Partners for acting without giving notice to the staff, shareholders, or any consideration for the complexities of a multi-jurisdictional business, United Group. Solak has called upon Dutch authorities to investigate a "serious governance crisis" within United Group, blaming BC Partners for their questionable actions.
Solak remains adamant that the newly appointed management team won't be able to maintain United Group's performance and preserve the value for all stakeholders. He has vowed to monitor the new management closely and fight for his rights and the preservation of the company's value.
Solak: BC Partners Playing Dangerous Games?
Since January 2022, Solak has been the majority owner of Southampton FC through Sport Republic—a multi-club vehicle that also owns Goztepe in Turkey and Valenciennes in France. Despite the escalating legal battle, Solak has shown unwavering commitment to Southampton, reiterating his resolve following their relegation from the Premier League last season.
The 60-year-old has deemed BC Partners' behavior as a disregard for the achievements and rights of the management team that owns more than 42% of the business. By resorting to such aggressive tactics, BC Partners has raised flags among financial markets, the investment community, and business founders worldwide, suggesting they might be willing to use underhanded methods to outmaneuver a founder partner and rake in greater profits.
BC Partners has yet to file a defense against Solak's High Court claim. Rumors suggest they are keeping mum about the lawsuit. As the dust settles during this high-stakes standoff, one can only wonder what the future holds for United Group and Dragan Solak.
- Dragan Solak's ongoing legal dispute with BC Partners over a £170 million debt extends beyond sports, as it also raises concerns about the behavior of private equity firms in the business world and financial markets.
- The alleged mishandling of affairs and refusal to pay bonuses by BC Partners could have significant implications in the investment community, potentially labeling them as firms willing to employ underhanded tactics to increase profits.
- The legal battle between Dragan Solak and BC Partners not only affects United Group's future and value but also highlights the importance of compliance with Dutch law and good governance in the world of business and sports.
