Wise Up’s Former Owner Buys Orlando Soccer Stake, Folha Says

Brazilian investor Flavio Augusto da Silva bought a stake in the Orlando City Soccer Club after selling his group of English schools to Abril Educacao SA (ABRE11) for about $450 million, daily newspaper Folha reported.

Silva said his Orlando City investment was for as much as $80 million and will help the team build a stadium with as many as 25,000 seats and become a Major League Soccer franchise, the daily reported.

Silva told Folha he hopes the city of Orlando, Florida, will make an investment of a similar amount in the team, which plays in the USL professional division.

Abril Educacao said last month it agreed to buy Silva’s Wise Up and other English school brands that have locations in Brazil, the U.S., Mexico, Colombia, Argentina and China, Folha reported.

To contact the reporter on this story: Blake Schmidt in Sao Paulo at bschmidt16@bloomberg.net

To contact the editor responsible for this story: Sylvia Wier in New York at swier@bloomberg.net