Spain’s first division football league, LaLiga has inked a Letter of Intent to form a 15-year Joint Venture (JV) with a Dubai-based transmedia multinational firm, Galaxy Racer (GXR). This has been signed in order to transform the sports league’s brand visibility in the Middle East and North Africa (MENA) region and the Indian subcontinent.
The JV establishes GXR as LaLiga’s local partner in the MENA market and the Indian subcontinent. With this announcement, the parties have entered an exclusive period to finalise contract details and the formation of the JV. According to the Letter of Intent, LaLiga and GXR will each own 50% of the new joint venture.
The JV will provide LaLiga with different avenues and possibilities to boost brand awareness in a key focus province that is one of the world’s youngest, with over 1.3 billion people under the age of 30. Furthermore, the Joint Venture will serve as the media rights organisation for broadcast and media rights in the Middle East, North Africa, and the Indian subcontinent.
The agreement gives LaLiga a creative method of exchanging its intellectual property (IP) with a local partner with significant market reach. GXR has over 500 million followers worldwide as well as a platform for development that enables competence 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, commented, “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 sports fans to our competition.
“This historic partnership is set to boost the popularity of LaLiga and football in MENA and the Indian subcontinent. With Galaxy Racer’s extensive experience in the region as one of the world’s largest transmedia powerhouses, we believe they are the ideal partner to help us reach a fresh new audience and unlock the true potential of LaLiga in the region.”
Maite Ventura, LaLiga, Managing Director, Middle East and North Africa, said, “Partnering with Galaxy Racer is a major milestone in our international expansion strategy. This agreement ensures not only a bright future for football in MENA and the Indian subcontinent, but also for LaLiga and our clubs.
“Success for us is seeing more of the younger crowd playing and enjoying the game, we want to tap into the hearts and minds of the millennials and GenZ. With Galaxy Racer’s expertise in the market, we will be able to truly build fan loyalty and position LaLiga as a top-of-mind brand for football and lifestyle.”
The agreement will enable LaLiga to reach out to younger viewers in a substantial manner via content creation. Along with this, the formation of a production studio for the JV is a crucial element of the accord. The studio will capitalise on Galaxy Racer’s vast experience in licensing, product development, content generation, and production.
Several alliances between LaLiga and Galaxy Racer are currently in the works, such as a documentary series, competitions, merch, physical events, and activations. GXR will also pursue creator operations on a regular basis to highlight the LaLiga brand, as well as build a roster of LaLiga-focused creators.