- Sports giant LaLiga and transmedia multinational GXR will each hold a 50% stake in the 15-year JV, designed to increase brand presence and target younger audiences
- JV will tap into audience of 1.3 billion under 30s across the territories
- The joint venture is expected to generate €3 billion in revenue
September 6, 2022, Dubai, United Arab Emirates: LaLiga, Spain’s top-flight football competition, and Galaxy Racer (GXR), the Dubai-based transmedia multinational, have signed a Letter of Intent paving the way for the formation of a €200M, 15-year Joint Venture (JV) which will transform the sport league’s brand presence in the Middle East and North Africa (MENA) region and Indian subcontinent.
GXR, founded in 2019 by Group CEO Paul Roy, is the largest esports, gaming and lifestyle organisation in the world with a presence in the MENA region, North America, Southeast Asia, South Asia and Europe.
The JV positions GXR as LaLiga’s local partner in the MENA market and Indian subcontinent, setting up a historic first for the world of sports rights in the territories which is projected to yield over €3 billion in revenue.
Following the signing of the Letter of Intent, the parties entered an exclusive period to conclude contract details 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 offer LaLiga new avenues and opportunities to increase brand presence across a key target region that is one of the youngest on the planet with more than 1.3 billion people aged under 30.
In addition, the Joint Venture will act as the media rights agency for the broadcast and media rights for the MENA and Indian subcontinent.
The deal provides LaLiga an innovative pathway to share its intellectual property (IP) through a local partner already offering considerable market reach – GXR has over 500 million followers worldwide – and a platform for growth that leverages expertise in six key verticals: licensing, content creation, esports, influencer/talent management, merchandising and music.
Paul Roy, CEO & Founder of Galaxy Racer said: “The LaLiga brand is powerful, but its potential remains untapped amongst Millennials and GenZ in the MENA region and Indian subcontinent.”
“Our opportunity is to connect with a younger audience in a way that resonates with them. Galaxy Racer has a market reach that will help unlock that potential and elevate LaLiga to an aspirational brand for target audiences in the region.”
LaLiga Executive Director Oscar Mayo added: “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.”
The JV will work in coordination with the league’s delegates based in Morocco, Egypt, Qatar, KSA, Turkey, Israel, India and the UAE, a key component for the regional growth.