08:40 AM EDT, 09/25/2024 (MT Newswires) -- Brera Holdings ( BREA ) said Wednesday that it signed an exclusive letter of intent to acquire an Italian Serie B club.

The company said this potential deal could boost team-related revenue and expand its multi-club ownership portfolio in professional sports.

The club's current owners have accepted the letter of intent and Brera ( BREA ) said it is proceeding with confirmatory due diligence and preparing the share purchase agreement.

Shares of Brera ( BREA ) were up more than 27% in recent premarket activity.

Price: 0.9300, Change: +0.20, Percent Change: +27.40