Dubai-headquartered transmedia multinational company Galaxy Racer Holdings Limited has entered into a 15-year joint venture with LaLiga, Spain's top-flight football league, to transform the sports media scene in the Middle East and North Africa (MENA) region and the Indian subcontinent.
Both La Liga and Galaxy Racer will each hold a 50% stake in the Joint Venture. In a step that is the first of its kind in terms of sports rights in the concerned regions, the deal is expected to generate over 3 billion euros in revenue.
TMT Law Practice represented Galaxy Racer Holdings Limited in the transaction by reviewing, negotiating, and finalizing a multitude of agreements in relation to the deal.
The transaction team consisted of Aahna Mehrotra (Partner), and Pranav Mohapatra (Associate).
The Joint Venture will be based in UAE which a team dedicated to developing the brand and securing new business opportunities which will work in coordination with LaLiga’s delegates based in Morocco, Egypt, Qatar, Saudi Arabia, Turkey, Israel, India and the UAE, which is a kep component for the envisioned regional growth.
The Joint Venture, designed to increase brand presence and target younger audiences, provides an opportunity for LaLiga to expand its brand, by entering into a market wherein the audience of people aged under 30 stands at above 1.3 billion in population. In addition, the Joint Venture will act as the media rights agency for the broadcast and media rights for the MENA region and the Indian subcontinent. The deal provides LaLiga an innovative pathway to share its intellectual property (IP) through a local partner already offering considerable market reach, as Galaxy Racer 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.
Several other collaborations between LaLiga and Galaxy Racer are already in the works including a documentary series, tournaments, merchandise, physical events, and activations.
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