LaLiga, Galaxy Racer partner to transform sports media scene in MENA, India
The deal between Galaxy Racer and LaLiga is expected to generate more than €3 billion in revenue. LaLiga and GXR will each hold a 50% stake in the JV.
Dubai-headquartered esports and lifestyle company Galaxy Racer has signed a 15-year joint venture (JV) with LaLiga, Spain's top-flight football league, to transform the sports media scene in the Middle East and North Africa (MENA) region and Indian subcontinent.
According to a press statement, the deal is expected to generate more than €3 billion in revenue. LaLiga and GXR will each hold a 50% stake in the JV.
Oscar Mayo, Executive Director of LaLiga, said, “Signing this agreement is a testament to our deep commitment to supporting the transformation of the sports media scene and building on the passion for football in MENA and the Indian subcontinent."
He added, "I believe that touching the hearts of youth and empowering them to experience the unifying force of football is key to our success. Galaxy Racer’s experience will be vital in building fan loyalty to position LaLiga as a top brand for football and lifestyle.”
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With both markets comprising over 1.3 billion people under 30 years of age, the deal will provide LaLiga to grow its brand and reach new audiences. It will also grant broadcast and media rights, boosting viewership of LaLiga matches in the 29 countries where the JV is in effect.
The JV will see collaboration with LaLiga representatives in Morocco, Egypt, Qatar, Saudi Arabia, Turkey, Israel, India, and the UAE, among others.
Galaxy Racer Founder and Chairman Paul Roy said, “The MENA region and Indian subcontinent is considered one of the fastest-growing territories in the business of sports, and by partnering with LaLiga, we are confident in our ability to work together to radically transform the sports league's brand presence in these regions while fostering the next generation of young sports fans.”
The development comes at a time when Qatar is hosting the first FIFA World Cup competition ever to be held in the Arab world.
In the UAE, the JV will see a team of around 20 people working to build the brand and find new business opportunities. Moreover, its five-person Board of Directors will include LaLiga MENA CEO Maite Ventura. Luis Cardenas, Commercial Director for LaLiga MENA, will be the Chief Commercial Officer (CCO).
Maite Ventura, LaLiga’s Managing Director for MENA, said, “GXR’s extensive experience in the region will serve as an important source of support towards our international strategy. The Middle East is growing as a dedicated sports hub, and the FIFA World Cup in Qatar now is the best example of the power of the sport.”
Paul added, "Several projects, including a documentary series, competitions, merchandise, live events, and activations, are already in the pipeline. Galaxy Racer presently has a sizable audience already in these areas that we will leverage to elevate LaLiga to an aspirational brand.”
Additionally, GXR will launch a roster of creators who will focus on LaLiga and curate creator events to promote the LaLiga brand throughout the year.
Edited by Suman Singh
