September 6 – Spain’s LaLiga has agreed a pathway to a 15-year joint venture with Dubai-based Galaxy Racer (GXR),that is aimed to accelerate presence across the Middle East and North Africa (MENA) region and Indian subcontinent, targeting €3 billion in revenue over the period.
GXR, founded in 2019, operates primarily in esports, gaming and lifestyle businesses worldwide. Under the jointventure, GXR will become LaLiga’s media rights agency for broadcast and media rights for the MENA and Indian subcontinent.
The two entities are now in an exclusive period to conclude contract details and establish the JV company that will be 50% owned by LaLiga and GXR.
Driving the partnership is LaLiga’s search for new opportunities to increase its brand in the region and within under 30 demograhics – there are more than 1.3 billion people aged under 30 in the region covered by the agreement.
“The deal provides LaLiga an innovative pathway to share its intellectual property (IP) through a local partner already offering considerable market reach,” said LaLiga.
GXR has more than 500 million followers worldwide and a platform that operates within the widening boundaries of traditional sports marketing with expertise in licensing, content creation, esports, influencer/talent management,merchandising and music.
LaLiga Executive Director Oscar Mayo said: “With the market set to enter a new era of growth, this is the right moment to take our business in the region to the next level and attract the next generation of younger sport fans to our competition…With Galaxy Racer’s extensive experience in the region as one of the world’s largest transmediapowerhouses we believe they are the ideal partner to help us reach a fresh new audience.”
Joint venture actvity will be driven through content creation and a crossover focus on gaming and esports, as well as new consumer products – from apparel to collectibles, said LaLiga.
“The LaLiga brand is powerful, but its potential remains untapped amongst Millennials and GenZ in the MENA region and Indian subcontinent,” said Paul Roy (pictured), GXR founder and CEO.
Based in the UAE, the JV will have a team of about 20 people dedicated to developing the brand. Several LaLiga and Galaxy Racer collaborations are already under way including a documentary series, tournaments, merchandise, and physical events.
“To grow there and in other big markets you need local contacts, knowledge and resources. That is why we opted for a local partner,” said Mayo.
“In the fifth year we will be above 30 million in billing and 15 in EBITDA”, he continued.
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