Castore successfully raises new debt facilities

Castore, the fast growth premium British sportswear brand, today announces that it has successfully raised new debt facilities.   

The new £50,000,000 secured revolving credit facility (“RCF”) has an initial maturity of three years and is provided by a club of three banks. Castore has the ability to extend the facility by an additional year and increase the RCF to £75,000,000. 

The new RCF will:  

  • give Castore additional levels of liquidity to further support the Group’s strategic growth ambitions;  
  • lengthen the maturity of its committed debt facilities, enhancing Castore’s financial flexibility; and  
  • broaden its banking partners by establishing relationships with BNP Paribas, HSBC UK Bank plc and Silicon Valley Bank UK  

Castore was advised by Rothschild & Co on its refinancing, Addleshaw Goddard LLP acted for the Company and Eversheds Sutherland LLP for the Lenders. 

Tom Beahon, Castore co-founder commented: ‘We are delighted to have successfully raised new debt facilities with three global banking partners. The increased facility is a strong endorsement of Castore’s exceptional performance in recent years, as well as our business model and strategy. The additional liquidity will allow us to further accelerate and internationalise our growth trajectory as we continue to build Castore into the leading premium sportswear brand in the 

NBA Africa and Africell launch partnership

NBA Africa and Africell, one of the fastest-growing mobile network operators in Africa, today announced a multiyear collaboration to engage thousands of Angolan youth through NBA (www.NBA.com) watch parties, merchandise giveaways, a Jr. NBA league and clinics, “Her Time to Play” seminars, and co-branded marketing campaigns that will provide fans in Angola with the opportunity to win tickets to NBA games in the U.S. The announcement makes Africell the Official Mobile Partner of NBA Africa in Angola. 

As part of “Her Time to Play”, the WNBA and NBA’s grassroots initiative to inspire the next generation of girls ages 7-14 to play basketball in a positive and healthy way, NBA Africa and Africell will provide Angolan girls and women with ways to engage with and learn from one another through the game of basketball. The program’s curriculum pairs on-court training with off-court life skills lessons to help young women develop as players and leaders.

Additional details about the giveaways, watch parties and youth basketball programs will be announced at a later date.

“Playing and watching sport contributes to personal growth and drives wider social inclusion,” said Africell Group CEO and Chairman, Ziad Dalloul. “Basketball is hugely popular in Angola, which has a proud history producing talented players and winning teams.  By partnering officially with NBA Africa in Angola, we will encourage more youth participation in basketball and help the sport serve as a platform for positive change in communities across the country.”

“Collaborating with a leading mobile operator like Africell will build on our efforts to make the game of basketball more accessible to youth across Africa and allow us to engage more young players and fans in Angola than ever before,” said NBA Africa CEO Victor Williams. “We look forward to working with Africell to expand our youth development and social responsibility initiatives to positively impact boys and girls nationwide.”

The collaboration builds on NBA Africa’s previous initiatives in Angola, including hosting Basketball Without Borders (BWB) Africa in Luanda in 2016 and conducting Jr. NBA leagues in 2017 and 2018.  BWB, the NBA and FIBA’s global basketball development and community outreach program, has reached nearly 100 Angolan boys and girls since its launch in Africa in 2003.  

The collaboration also builds on Africell’s support for sports-related initiatives in its other operating markets, including projects focused on football and athletics

Looking back at Birmingham’s 2022 Scale Up Games

The Scale Up Games took place over five days, alongside the Commonwealth Games in Birmingham, with the goal of empowering and providing guidance for start-up businesses so they could fulfil their global objectives and aspirations.

The Games were put on by the DIT’s Midlands Engine team in partnership with the Global Entrepreneur Programme. 

The first round of the competition took place in March. This round was a national competition with different companies in Commonwealth countries battling it out for a ticket to Birmingham.

Quidich is based in India and on March 22nd, their CEO Rahat Kulshreshtha, gave a five minute pitch about the company and faced questions from the judging panel. 

Tim Luft, a judge on the panel, said: “They won the Silver medal as they showed real innovation in the future development of sports TV broadcast – we particularly enjoyed hearing about their innovative use of Augmented Reality to provide further content when watching live sport.

“The company were able to showcase their range of products and services and as such we felt they were very well placed to scale their business in the UK. We look forward to supporting the company in their future direction with regard to the UK and wish them continued success in the future.”

Having won the gold medal in India, Quidich travelled over to Birmingham for the finals of the competition at the end of July.

The finalists had been whittled down from the original 350 entrants. Over three days there was a pitching competition, networking opportunities at the Commonwealth Business Forum and culminating in the opening ceremony. 

Rahat Kulshreshtha, CEO of Quidich, added: “It’s such a proud moment to see the Quidich story that started as a college project in a garage a few years ago, now being recognised by the UK government for its impact and achievement in the sports broadcast industry.

“As we embark on the journey of scaling the organisation globally, the Scale Up Games was a fantastic opportunity to build new networks, understand the entrepreneurship culture and experience the government support for new companies coming to the UK.”

MotoGP announce results from largest ever global fan survey

Dorna Sports S.L and Motorsport Network today announced the key findings of the 2022 Global MotoGP™ Fan Survey.

Launched in June, the Global MotoGP™ Fan Survey was commissioned by MotoGP™, hosted and managed by Motorsport Network and analysed by Nielsen Sports, the global information, data, and measurement experts. Conducted in 14 languages across the Motorsport.com platforms and receiving feedback from 109,676 fans in 179 countries, it is by far the largest fan survey ever conducted in MotoGP™. 

The results show that MotoGP™ has built a very loyal fanbase with over 82% of fans following the sport for over six years, the highest of any series studied in Motorsport Network’s Global Fan Survey programme, and more than 82% of fans watch more than 15 races each season. Fans invested a total of 27,300 hours completing the survey, taking an average of nearly 15 minutes each.

The data show MotoGP™ is attracting new female fans, one-third of whom have been following the sport for less than five years. Female respondents were also significantly younger than their male counterparts with 56% of female fans aged 16-34, compared to 40% for male fans. However, a significant percentage (66%) of fans believe that the sport needs to do more to attract new fans. 

Carmelo Ezpeleta, CEO of Dorna Sports: “The Global MotoGP™ Fan Survey, undertaken in partnership with Motorsport Network, has been true to its name with over 109,000 fans from 179 countries investing their time. We couldn’t be more proud of that response, nor of many of the answers they’ve given. We have a truly global and passionate fanbase. Put simply, we asked and our fans delivered.

We are proud to see fans are so positive about our racing, and they support the important initiatives we already have underway, such as the beginning of our new global era of zero carbon fuels in 2027. We are also delighted to see such committed interest from key demographics, such as the increasing – and dedicated – female fanbase for MotoGP™. We aim to open the doors to our sport as wide as possible, on track with the Road to MotoGP™ programme and off track as we continue our mission to grow the sport across all audiences and countries around the world.

We’re especially happy because the results show clear potential and give us targets we can use to define our next steps as we aim to make the sport even bigger. Everything we’ve learned will be invaluable in the decisions and directions we take going forward.”

Italy, France, the UK, Spain and the USA lead the way on responses. The European audience made up 65% of the total, with 19% from Asia and 13% from the Americas. MotoGP™ enjoys a very loyal audience, especially in the Europe and Asia-Pacific regions, where over 65% of fans have been following the sport for more than 10 years and over 80% for six years or more.

Reigning world champion Fabio Quartararo was voted the most popular MotoGP™ rider by 21.8% of all fans. The Frenchman featured in the top three of nearly half (49%) of all fans, rising to 56% among female fans. His support is highest among female fans and those aged 16-34. 

Marc Marquez is the second most popular rider. Although he only featured in the top three for 32% of all respondents, a high percentage of these fans also place him as their outright favourite. Globally, he is the most popular for 19.8% of all fans. Like Quartararo his support is stronger among female fans, and he is ranked top rider among fans aged 24-35.

Italy’s Francesco Bagnaia is ranked third in terms of popularity among fans worldwide, with Australian Jack Miller fourth. Bagnaia was the favourite of 11% of all respondents and is the most popular rider in Italy. What is notable in comparison with other series is that MotoGP™ fans are overwhelmingly ‘sport-first’, with over 75% supporting a number of teams and riders, rather than individual riders.

Monster Energy Yamaha MotoGP™ and Ducati Lenovo Team were voted the fans’ favourite teams, albeit with a tiny margin of 1.4% separating them. Repsol Honda was third most popular and was the preferred choice among female respondents. 

Fans identified the top five brand attributes of MotoGP™ in the survey: Exciting, Competitive, Entertaining, World Class and Unpredictable, with 94% of fans saying that the sport provides exciting racing, 79% calling it the world’s most exciting racing and 71% saying that it features pioneering technology. 

James Allen, President of Motorsport Network: “A MotoGP™ fan survey on this scale has never been done before and it has been truly fascinating to work on this huge project, following on from the highly successful global surveys we conducted recently for Formula One and INDYCAR. MotoGP™ is the dominant global motorbike racing championship and I have loved it since I went as a child to see Barry Sheene and Kenny Roberts battle it out at Silverstone. The series has a lot of strong fundamentals in place, with a dedicated audience that is growing among female fans and across new territories of the world. There is clearly a great opportunity for the sport to unlock new audiences for this most thrilling and unpredictable of motorsport disciplines.”

Other key findings
MotoGP™ fans are keen race attendees, with over 40% having been to a live race in the past five years. An impressive 24% of fans have travelled to experience a non-domestic race. Over 60% of all MotoGP™ fans considered the Italian GP at Mugello critical to the calendar, making it the top ranked race among fans; Assen (48%) and Phillip Island (37%) also scored strongly. Fans in the Netherlands are the most active race goers; with nearly three-quarters (73%) of Dutch fans attending a race in the past five years. Nearly three-quarters of all fans (74%) believe that MotoGP™ should feature more than 19 races in a season. 

The survey also took a deep dive into media platforms and how fans consume the sport. Globally more than 82% of MotoGP™ fans watch 15 or more races each year and TV still leads the way with 90% of fans preferring it as the platform for watching live races, with over 60% of fans viewing TV over the race weekend.  

Fan usage of the official MotoGP™ app is high at 41% worldwide, rising to 57% in the Americas. Outside of a race weekend social media and dedicated motorsport websites become the most used platforms for information. During a race weekend, Instagram is the most used social media platform, driven by particularly high (75%+) usage among female fans and those aged 16-24.

In terms of the sporting format and possible future changes, fans approve strongly of the introduction of rules to balance the performance of less competitive manufacturers (+60% net approval), particularly younger fans (16-34). The introduction of sustainable fuels is seen as a positive move for MotoGP™ (+46% net support); with strong support among female respondents and younger fans aged 16-34. As for race duration, 85% of fans want races to last between 40 minutes and 1 hour; with 70% preferring a race distance of 40-50 minutes – the current length of a MotoGP™ race

Warner Bros. Discovery and BT Group complete transaction to combine BT Sport and Eurosport UK

Warner Bros. Discovery and BT Group have today completed their transaction to form a 50:50 Joint Venture (JV) that combines the assets of BT Sport and Eurosport UK. 

The move brings together one of the most extensive line-ups of live sport coverage for fans in the UK & Ireland – including the Olympic Games, the Premier League, UEFA Champions League, UEFA Europa League, the Premier League, Premiership Rugby, MotoGP, UFC, Boxing, WWE, tennis Grand Slams, cycling Grand Tours and the winter sports World Cup season.

As work begins to develop the new sports offering for the UK & Ireland, BT Sport and Eurosport UK will retain their separate product propositions for a period of time. BT Sport and Eurosport UK customers can continue to enjoy the current sport offerings in all the same ways they do currently.  

Over time, the intention is to launch a new sports brand in the market and present this combined sports offering together with an entertainment offering from Warner Bros. Discovery.  

Marc Allera, Chairman of the JV and CEO BT’s Consumer division said: “As we enter our ninth season, today is day one of an exciting new chapter for BT Sport.  I am extremely proud of the teams and the established brand and broadcaster that BT Sport has become, and I look forward to working with Warner Bros. Discovery to create an exciting new sport TV offering for the UK.” 

Andrew Georgiou, board member of the JV and President and Managing Director, Warner Bros. Discovery Sports Europe, said: “Today marks the start of our journey to build a new sports destination for fans in the U.K and Ireland. Combining BT Sport and Eurosport U.K. together with Warner Bros. Discovery’s world-class and growing entertainment offering will result in an exciting new proposition for consumers. 

“It’s important for fans to know they can continue to enjoy BT Sport and Eurosport U.K. as they do today and we’ll keep them updated on future plans as soon as we can. We are pleased the transaction has closed and we can now further engage all stakeholders in the process of establishing the JV and developing its extensive combined sports offer.”

The JV’s Board of Directors is equally represented between appointees of British Telecommunications plc and Warner Bros. Discovery. The first Chairperson, nominated by each shareholder on a rotating basis, is Marc Allera, CEO BT’s Consumer division. Andrew Georgiou, President and Managing Director, Warner Bros. Discovery Sports Europe, is also a member of the board and will lead the business.

Manchester City and Inspiresport extend partnership

Inspiresport, a provider of youth sports development tours and Manchester City Football Club are delighted to announce an extension of their domestic partnership for the provision of school and youth group tours.

The new agreement will take the partnership between Inspiresport and the current English Premier League Champions into a tenth year following its commencement in 2016.

During that time, more than 200 groups have attended training sessions at the City Football Academy on the Etihad Campus, with over 5000 young players of all abilities participating in innovative practical sessions led by the programme’s coaching staff.

Steve Butchart, MD inspiresport Group said: “We’re obviously thrilled to announce this partnership extension and extend our relationship with the club. From post trip feedback received from our groups who have attended the programme, Manchester City are one of our top performing partners for all round sporting experience, quality of training sessions and expertise of the coaching staff. Add to that, the quality of the campus training facilities, the Manchester City tour option has a real appeal for groups wanting a taste of an elite sport environment.”

Jorgina Busquets, Managing Director, Football Education and Recreation, City Football Group, “We’re delighted to further extend our relationship with inspiresport today. Since the initiative started in 2015, we have seen thousands of young players from all over the world visit City Football Academy to train with us, learn our philosophy and develop for the future. We look forward to welcoming many more groups here for years to come”.

This new agreement between the two organisations will also incorporate the North American market for inspiresport to provide bespoke soccer training tours to Manchester City. High school and club teams from the USA and Canada will have the opportunity to travel to Manchester to participate in the fabulous football experience.

TCL Electronics start latest sponsorship with football stars

Today, TCL Electronics, one of the leading players in the global TV industry and a fast-growing consumer electronics company, unveiled the 2022 TCL football team at IFA Berlin. With four of the world’s top footballers on board as brand ambassadors, TCL is kicking off a global campaign that aims to inspire people to pursue greatness in their own lives.

The TCL line-up brings together an exceptional young midfielder from England Phil Foden; rising superstar and Spanish international player Pedri; remarkable top-performer Rodrygo, a winger for the Brazil national team; and Raphaël Varane, famed defender and a key player in the French national squad.

TCL will share messages and insights from the four football players in the lead up to the 2022 major football event starting in November and beyond through traditional and social media channels. TCL will also provide numerous opportunities for fans to engage with their idols in vivid new ways through exclusive content, signed merchandise and competitions, with prizes including a chance for lucky fans to talk to their hero.

Access their first joint video here.

“Having the chance to connect to fans worldwide and inspire them to greatness is a fantastic opportunity. I’m glad to have this possibility to associate myself with a brand like TCL, whose track record shows their dedication to providing top-quality experiences for our supporters.” explained Raphaël Varane.

“My passion for football comes from playing on the streets of Stockport with my mates and watching our idols on TV. I am excited to join the TCL family and together I hope we will inspire and connect the next generation to football.” said Phil Foden.

“Thrilled to have a chance to begin this new relationship with TCL. We all wish to provide positive experiences for fans and spread our passion for the sport, and as a TCL brand ambassador, I’m sure we can spread a positive sporting spirit that inspires our fans.” Pedri added.

“I’m happy to play a role as a TCL brand ambassador and collaborate with a company that places quality and inspiring individual greatness at the heart of their products.” indicated Rodrygo.

Frédéric Langin, Vice President Sales and Marketing of TCL Europe, said, “As some of the best players in the world today, Phil Foden, Pedri, Rodrygo and Raphaël Varane are renowned as generational talents that inspire on and off the pitch. TCL is passionate about inspiring our customers through sport and we are delighted to be able to help fans connect with these football greats and get inspired to recognize and nurture their own greatness.” 

UFC and VENUM announce outfitting and apparel partnership

UFC, the world’s premier mixed martial arts organisation, today announced that VENUM, the world’s leading designer, marketer, and distributor of combat sports apparel and accessories, will continue as UFC’s exclusive global outfitting partner. 

The multi-year renewal was facilitated by IMG’s licensing business, which exclusively represents UFC and brokered the original agreement with VENUM in 2020.

The announcement of UFC’s renewal with France-based VENUM comes as UFC prepares to hold its first-ever event in the country, with UFC FIGHT NIGHT: GANE vs. TUIVASA set for Paris this Sat., Sept. 3, at Accor Arena.

“We’re thrilled to renew our partnership with VENUM,” said Tracey Bleczinski, Senior Vice President, UFC Global Consumer Products.  “VENUM is an iconic combat sports brand that understands the unique needs of MMA athletes, and the feedback on the craftmanship, style, and performance of the VENUM-designed Fight Kits and apparel has been tremendous.  We’re looking forward to continue to work with Franck Dupuis and his team at VENUM to deliver outstanding fight gear and training apparel for our athletes and fans.”

“VENUM’s return to UFC in April 2021 has been a source of great pride for the VENUM team,” said Franck Dupuis, VENUM Founder and CEO.  “The enthusiastic reception from UFC athletes and fans to the launch and release of our UFC collections has convinced us to continue our adventure inside the Octagon, and to continue to improve our products to serve a demanding and passionate public.  The best is ahead of us.”  

The VENUM UFC Fight Kits and apparel line are high quality MMA gear and performance apparel specifically designed and developed for UFC’s world-class athletes competing inside the OctagonÒ and for fans and practitioners of an authentic MMA lifestyle.

Bundesliga returns to Middle East and North Africa after two year break

The Bundesliga and Bundesliga 2 are back in the Middle East and North Africa (MENA) after a two-year absence, with beIN SPORTS adding the MENA region to its broadcast rights portfolio for the next three seasons.

This ensures that fans across the 24 countries included in the agreement are able to follow their favourite teams as well as the league’s stars and local heroes, such as Algerian international Ramy Bensebaini (Borussia Mönchengladbach), Egyptian striker Omar Marmoush (VfL Wolfsburg), Moroccan Bundesliga newcomer Noussair Mazraoui (FC Bayern München) and Tunisian midfield ace Ellyes Skhiri (1. FC Köln).

As one of the world’s biggest sports leagues, with more goals per game than any other top European division and excitement each matchday, the Bundesliga is once again reaching more than 200 FIFA member countries through its global partner network. As part of the existing agreement with Bundesliga International, beIN SPORTS already has the rights to broadcast the Bundesliga and Bundesliga 2 matches in France, Turkey, Australia and New Zealand. The new agreement means that beIN SPORTS has, as they did until 2020, the rights to show all matches from the Bundesliga and Bundesliga 2, as well as the relegation play-offs and the German Supercup. The agreement also includes full clip and highlights rights across digital and social media channels, in addition to on-demand programming such as highlights and magazine shows. The contract begins immediately and runs until the end of the 2024-25 season.

Bundesliga International CEO Robert Klein: “With stars such as reigning African Player of the Year Sadio Mane lighting up the league each week, we look forward to working with beIN SPORTS to deliver world class localised content and showcase the best of the Bundesliga over the next three years to the millions of football fans throughout the region, who can now follow the league as well as their favourite teams and players again.”

beIN SPORTS MENA CEO Mohammad Al-Subaie: “We are delighted to welcome the Bundesliga back to beIN SPORTS in the MENA region. As one of the biggest and most significant leagues in world football, we’re proud to give German football fans the best viewing and engagement experiences, while helping German football flourish and grow in the region.”

Lebron James and Drake backed RedBird Capital announce purchase of AC Milan

RedBird Capital Partners (“RedBird”) today announced that it has completed the acquisition of Associazione Calcio Milan (“AC Milan”, “Milan” or the “club”) for €1.2 billion.   

For one hundred and twenty three years AC Milan has been synonymous with championship level football.  Since its founding in 1899, AC Milan has won 19 Serie A Championships, 7 Champions Leagues/European Cups, 7 Supercoppa Italianas, 5 Coppa Italias, 5 European Super Cups, 3 Intercontinental Cups, 2 European Cup Winners’ Cups, and 1 FIFA Club World Cup. 

As the new owner of AC Milan, RedBird will continue to invest in all the key areas that will advance the Club’s sporting and commercial interests, building on last season’s achievements that culminated in the club’s Serie A championship. RedBird’s experience in operating and building global sports businesses will ensure that the next chapter in AC Milan’s storied history will build on its current momentum. 

Priority areas of focus include supporting the club’s sporting and business leadership to ensure that the team is consistently competitive at the highest levels of football; ensuring that it has the infrastructure and facilities befitting one of the world’s most prominent sporting organisations; and strengthening the Club’s women’s and youth teams, as well as its charitable arm, Fondazione Milan. 

Gerry Cardinale, RedBird Founder and Managing Partner, said: “Our vision for Milan is clear: we will support our talented players, coaches and staff to deliver success on the pitch and allow our fans to share in the extraordinary experiences of this historic club.  We will look to leverage our global sports and media network, our analytics expertise, our track record in sports stadium developments and hospitality to deliver one goal – maintaining Milan’s place at the summit of European and world football.”

The deal will also see Yankee Global Enterprises (YGE), owner of the New York Yankees, one of the world’s most valuable sports franchises, enter into a strategic partnership with the club with a minority equity stake in AC Milan. RedBird has a longstanding relationship with the Yankees and the Steinbrenner family, with whom it is a co-owner of the Yankees Entertainment Sports (YES) Network, the most-watched regional sports network in the United States. 

On the partnership with YGE, Mr. Cardinale said: “We have a multi-decade relationship with the New York Yankees and the Steinbrenner family that has resulted in the creation of some of the most successful businesses in sports, entertainment and hospitality.  We are very pleased to continue our partnership with them and will look to explore opportunities together to broaden our fan reach and expand commercial opportunities that are only available to franchises that operate at the highest levels of sports globally.” 

The completion of the purchase of Milan takes RedBird’s assets under management to approximately $7.5 billion and adds AC Milan to RedBird’s portfolio of global sports and entertainment investments that include Fenway Sports Group (Liverpool FC, Boston Red Sox, Pittsburgh Penguins), Toulouse FC, the Rajasthan Royals, the YES Network, the SpringHill Company, Skydance Media, the XFL, OneTeam Partners and Dream Sports.