DBasia.news – LaLiga, Spain’s top football league and Galaxy Racer (GXR), a Dubai-based multinational transmedia has signed a Letter of Intent to pave the way for the formation of a 15-year Joint Venture (JV) that will transform the league’s brand presence in the Middle East and Africa region. North, as well as the Indian subcontinent.
GXR, founded in 2019 by Group CEO Paul Roy, is the world’s largest esports, gaming and lifestyle organization, with a presence in the Middle East and North Africa, North America, Southeast Asia, South Asia and Europe.
This joint venture positions GXR as LaLiga’s local partner in the Middle East and North African markets and the Indian subcontinent, makes history as a first for the sports rights world in the region, and is projected to generate more than 3 billion euros in revenue.
After signing the Letter of Intent, the parties enter an exclusive period to conclude the details of the contract and establish cooperation. As agreed in the Letter of Intent, LaLiga and GXR will each hold a 50% stake in this partnership.
This joint venture will offer LaLiga new avenues and opportunities to increase the brand presence across a key target region which is one of the youngest on the planet with over 1.3 billion people under the age of 30.
In addition, the joint venture will act as the media rights agency for broadcasting and media rights for the Middle East and North Africa region, and the Indian subcontinent.
This agreement provides LaLiga with an innovative pathway to share its intellectual property through local partners who already offer considerable market reach, GXR has more than 500 million followers worldwide, and a platform for growth that leverages expertise in six key focuses: licensing, content creation, esports, influencer management, merchandising, and music.
Paul Roy, CEO & Founder of Galaxy Racer said: “The LaLiga brand is strong, but its potential remains untapped among Millennials and GenZ in the Middle East and North Africa region, and the Indian subcontinent.”
“Our opportunity is to connect with a younger audience in a way that suits them. Galaxy Racer has a market reach that will help unlock that potential and elevate LaLiga into an aspirational brand for target audiences in the region.”
LaLiga Executive Director Oscar Mayo added: “With the market about to enter a new era of growth, this is the right time to take our business in the region to the next level and attract the next generation of young sports fans to our competitions.”
“This historic partnership will increase the popularity of LaLiga and football in the Middle East and North Africa region and the Indian subcontinent. With Galaxy Racer’s extensive experience in the region as one of the largest transmedia in the world, we believe they are the ideal partner to help us reach our audience. a fresh new one that unlocks LaLiga’s true potential in the region.”
“Partnering with Galaxy Racer is a major milestone in our international expansion strategy,” added Maite Ventura, LaLiga managing director for the Middle East and North Africa, “This agreement ensures not only a bright future for football in the Middle East and North Africa region and the Indian subcontinent, but also for LaLiga and our club.”
“The success for us is to see more young people playing and enjoying football, we want to enter the hearts and minds of millennials and GenZ. With Galaxy Racer’s expertise, we will be able to truly build fan loyalty and position LaLiga as the top brand for football and lifestyle.”
This deal will help LaLiga to build meaningful relationships with a younger audience, through content creation and cross-focus on gaming and esports, as well as new consumer products, from apparel to collectibles, and various activations that usher in a new way of thinking for the world of football and sport.
The main strength of the agreement is the creation of a production studio for this collaboration. The studio will leverage Galaxy Racer’s extensive experience in licensing, product development and content creation, production and broadcasting in a region seen as one of the fastest growing regions in the sports business thanks to key investment channels in areas such as golf, boxing, F1 and racing. horses in recent years, as well as the 2022 FIFA World Cup Qatar which will take place at the end of this year.
Based in the UAE, the joint venture will feature a team of approximately 20 people dedicated to developing brands and securing new business opportunities, with a five-person board of directors including Chief Executive Officer (CEO) Maite Ventura. Luis Cardenas, LaLiga’s Commercial Director in the Middle East and North Africa region, will be the Chief Commercial Officer (CCO).
The joint venture will work in coordination with LaLiga delegations based in Morocco, Egypt, Qatar, Saudi Arabia, Turkey, Israel, India and the UAE, a key component for regional growth.
Several LaLiga and Galaxy Racer collaborations are already in the works including documentaries, tournaments, merchandise, physical events, and activations.
GXR will also curate creator activity to showcase the LaLiga brand throughout the year and will launch a LaLiga-focused creator list. Like current LaLiga football ambassadors, the creators selected will represent LaLiga exclusively, traveling the world promoting themselves and LaLiga to fans globally.