November 15 – Real Madrid have founded an investment vehicle with the objective of financing 30 start-up businesses.
In partnership with both Next and Score, Madrid have set up Grymes Invest, a holding company to manage investment in new projects, part of the club’s strategy to explore new territories and areas of revenue potential
The club will target start-ups that have a link to sports and will invest €4.5 million over the next three years. Part of the €4.5 million capital will come from the European Commission’s innovation project financing programme.
Madrid is not the first football club with an investment vehicle. FC Barcelona wanted to create a startup acceleration fund as part their Barça Innovation Hub, but due to the economic crisis at the club the €100 million project has been halted. City Football Group launched an investment vehicle of €100 million euros, with the support of the Sapphire Sport fund.
This season, Real expects revenue to exceed €800 million in revenue. In La Liga, the club sit in second place, a point away from league leaders Real Sociedad.
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