Dugout To Expand Into MENA Region After £8.275m Investment

Dugout is to expand into the Middle East and North Africa region after receiving £8.275m ($11.6m) in fresh investment.

The digital football media company received the cash injection from an investors group led by US businessmen David and Frank McCourt. David McCourt is chief executive of tech investors Granahan McCourt Capital and also the founder of ALTV.com, one of the fastest growing free streaming services in the MENA region. Meanwhile his brother, Frank, is chairman and chief executive of McCourt LP and McCourt Global.

Dugout are keen to grow their brand in the MENA market, with Arabic to be added to its language base shortly.

Elliot Richardson, founder and chairman of Dugout, said: “This investment keeps the momentum going and partnerships with innovators like ALTV and Alchemy Media both enhance our technology offering and open up key markets like the Middle East and North Africa, where we know our club partners have such huge support.”

David McCourt, of Granahan McCourt Capital, added: “Dugout represents an excellent opportunity to capitalise on two significant global trends. Firstly, the huge demand for great, original and highly-personalised content. Secondly, the soaring popularity of football in practically every market.”

Dugout is the only media company to be run by nine of the world’s richest football clubs including Real Madrid and Bayern Munich.