– Sports giant LaLiga and multinational transmedia company GXR will each hold a 50% stake in the 15-year joint venture, designed to increase brand presence and target younger audiences
– JV will tap into the audience of 1.3 billion under 30 across territories
– The joint venture should generate 3 billion euros in turnover
Dubai, United Arab Emirates, September 7, 2022 /PRNewswire/ — LaLiga, spain high-level football competition, and Galaxy Racer (GXR), the dubaimultinational transmedia company, have signed a letter of intent paving the way for the formation of a 15-year joint venture (JV) that will transform the sports league brand’s presence in the Middle East and North Africa (MENA) and Indian subcontinent.
GXR, founded in 2019 by the group’s CEO Paul Royis the world’s largest esports, gaming and lifestyle organization with a presence in the MENA region, North America, South East Asia, South Asia and Europa.
The joint venture positions GXR as the local partner of LaLiga in the MENA market and the Indian subcontinent, establishing a historic first for the world of sports rights in the territories, which is expected to generate more than €3 billion in revenue.
Following the signing of the letter of intent, the parties entered into a period of exclusivity to conclude the details of the contract and the establishment of the JV. As agreed in the letter of intent, LaLiga and GXR will each hold a 50% stake in the new JV.
The JV will provide LaLiga with new avenues and opportunities to grow the brand’s presence in a key target region which is one of the youngest on the planet with over 1.3 billion people under the age of 30.
In addition, the joint venture will act as the media rights agency for broadcast and media rights for the MENA region and the Indian subcontinent.
The deal provides LaLiga with an innovative route to share its intellectual property (IP) through a local partner that already offers considerable market reach – GXR has over 500 million subscribers worldwide – and a platform -form of growth that leverages expertise in six key verticals: licensing, content creation, esports, influencer/talent management, merchandising and music.
Paul RoyCEO and Founder of Galaxy Racer said: “The LaLiga brand is powerful, but its potential remains untapped among Millennials and GenZers in the MENA region and the Indian subcontinent.
“Our opportunity is to connect with younger audiences in a way that resonates with them. Galaxy Racer has a market reach that will help unlock this potential and elevate LaLiga to an aspirational brand for target audiences in the region. .”
La Liga Executive Director Oscar Mayo added: “With the market about to enter a new era of growth, now is the right time to take our business in the region to the next level and attract the next generation of young sports fans to our competition.
“This historic partnership is set to boost the popularity of La Liga and football in the MENA region and the Indian subcontinent. Thanks to Galaxy Racer’s vast experience in the region as one of the biggest transmedia powerhouses to the world, we believe they are the perfect partner to help us reach new, new audiences and unlock the true potential of LaLiga in the region.”
“Partnering with Galaxy Racer is a major step in our international expansion strategy,” added Maite Venturageneral manager of LaLiga for the Middle East and North Africa, “This agreement not only ensures a bright future for football in the MENA region and the Indian subcontinent, but also for La Liga and our clubs.
“Success for us is seeing more young people playing and enjoying the game, we want to tap into the hearts and minds of Millennials and Gen Z. With Galaxy Racer’s expertise in the market, we will be able to really retain the fans and position LaLiga as a go-to brand for football and lifestyle.”
The deal will help LaLiga reach younger audiences in a meaningful way, through content creation and a cross-focus on gaming and esports, as well as new consumer products – from apparel to collection – and a wide range of activations ushering in a new way of thinking for the world of football and sport.
One of the highlights of the agreement is the creation of a production studio for the JV. The studio will leverage Galaxy Racer’s extensive experience in licensing, product development and content generation, production and broadcast in a region considered one of the fastest growing territories in sports. thanks to a significant investment pipeline in areas such as golf, boxing, F1 and horse racing in recent years, as well as the FIFA World Cup Qatar 2022, which is due to take place later this year.
Based in the United Arab Emirates, the JV will comprise a team of approximately 20 people dedicated to developing the brand and securing new business opportunities, with a board of directors of five, including the Chief Executive Officer (CEO). Maite Ventura. Luis CardenasCommercial Director of LaLiga MENA, will be Chief Commercial Officer (CCO).
The JV will work in coordination with the league delegates based in Morocco, Egypt, QatarSaudi Arabia, Turkey, Israel, India and the United Arab Emirates, a key component of regional growth.
Several LaLiga and Galaxy Racer collaborations are already in the works, including a documentary series, tournaments, merchandise, physical events and activations.
GXR will also host designer activities to showcase the LaLiga brand throughout the year and launch a roster of LaLiga-focused designers. As current LaLiga Football Ambassadors, the selected creators will represent LaLiga exclusively, traveling the world to promote themselves and LaLiga to fans around the world.
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Notes to editors:
1. Sports business, 2021 – https://www.sportbusiness.com/news/super-bowl-lv-shows-ratings-erosion/
2. Reader’s Summary, 2022 – https://www.readersdigest.co.uk/lifestyle/sport/how-young-people-are-reshaping-sports
About Galaxy Racer:
Galaxy Racer (GXR) was founded in 2019 by Paul Roy and is a transmedia powerhouse focused on esports, content creators, music and sports, with our competitive esports division, Nigma Galaxy having an impressive roster of ten esports teams in Dota 2, League of Legends, CS :GO, Fortnite, VALORANT, PUBG Mobile, BGMI and Free Fire.
Galaxy Racer has over 100 content creators across North AmericaMiddle East North Africa (MENA), South Asia, Europe and South East Asia (SEA), amassing over 500 million subscribers and generating over 2.5 billion monthly views.
Galaxy Racer offers live streaming and gaming talent brand endorsement deals, streaming deals, creator collaborations, digital rights management, monetization, offline event opportunities, management of their social media channels and content programming.
Galaxy Racer website: https://galaxyracer.gg
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About La Liga
LaLiga is a global, innovative and socially responsible organization, leader in the leisure and entertainment sector. It is a private sports association made up of the 20 sports limited companies (SAD) and clubs of LaLiga Santander and the 22 of LaLiga SmartBank, and is responsible for organizing professional football competitions in Spain. LaLiga is the football competition with the most followers on social media in the world, with more than 158 million followers on 17 platforms in 20 different languages. With its headquarters at Madrid (Spain), it is present in 41 countries through eleven offices and 44 delegates. The organization carries out its social work through its Foundation and was the first professional football league in the world to create a league for footballers with intellectual disabilities: LaLiga Genuine Santander.
SOURCE Galaxy Racer