FZ SPORTS ANNOUNCES US$ 74MM FINANCING TO FURTHER EXPAND SPORTS RIGHTS MANAGEMENT IN LATIN AMERICA
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The financing will enable the company to further expand its work with Latin American sports leagues, teams, and federations and support the company’s partnership with the Peruvian soccer league, Liga1
Miami, USA, 15th of June, 2023 – Fz Sports, a global sports media and technology company focused on the management and commercialization of sports rights via partnerships with leading sports organizations, has raised $74MM in growth funding that will enable the company to further expand its work with Latin American sports rights and accelerate the growth of the Peruvian Liga1 business that Fz Sports has developed via its subsidiary 1190 Sports. The fast-growing company – which operates 1190 Sports, Fanatiz and Nunchee – has become a leader in Latin America at the intersection of sports rights, technology and innovative business models, leveraging associative partnerships with premier sports organizations including the Argentine, Brazilian, Chilean and Peruvian soccer leagues and federations.
The financing, which includes debt and equity capital, was provided by 777 Partners, MEP Capital, Torneos, Serengeti Asset Management and Magma Partners, among others.
“This financing will allow us to continue supporting and boosting the sports rights management and distribution of several of the most important leagues and federations in the region,” said Matías Rivera, CEO & Co-Founder of Fz Sports. “At the same time, it reflects the vision of growth and potential that the rapidly expanding sports business has, hand in hand with our innovative management, business model and technology. We are honored to attract some of the best investment firms in the sports world and are delighted to continue strengthening the value of Latin American football internationally.”
“We are thrilled to continue supporting this management team in the rapid expansion of their business, which has grown close to 60x since we led their Series A in 2019. The new capital provided by 777 Partners will fuel the growth of Fz Sports, which is transforming how soccer is produced and consumed”, said Juan Arciniegas, Managing Director and Head of Sports, Media and Entertainment at 777 Partners.
“Matias and the entire Fz Sports team have done an outstanding job growing Fz into a market leader in the management of sports media rights in Latin America and have quickly become a key partner to some of the top soccer organizations in the region. We believe they have a tremendous opportunity in front of them and look forward to working closely with the Fz team to support the continued growth of the business,” said MEP Capital Partner Matt Cohen.
Jody LaNasa, Serengeti Asset Management’s founder and chief executive, said: “We’ve worked alongside Fz & 1190 Sports in various capacities and continue to be impressed by their management’s unparalleled ability to drive results for the clubs and their investors, improving the overall product for consumers.”
With a global operation supported by a team of over 80 professionals with vast experience in sports management, streaming technology, entertainment content development, production and operations, and specialists in championships’ broadcasting rights negotiations with Conmebol, Concacaf, UEFA and FIFA, Fz Sports currently manages the international broadcasting rights of top tier leagues in Latin America including the Brasileirão, Liga Argentina de Futbol (as part of AFD, Argentina Football Distribution) and recently added Liga1 Peru, in which the company is developing a ground-breaking initiative in partnership with the Peruvian Federation to centralize and develop its Liga1 rights via the launch of proprietary distribution channels.
In addition, the company is part of the consortium that manages the broadcasting, image and sponsorship rights of “La Roja” –the Chilean football teams– for the 2023-2026 period, as well as the sponsorships for the Peruvian national team, among other properties.
As part of its associative business model with rights holders, the company provides its proprietary streaming platform and digital rights management services for direct-to-consumer distribution via AFA Play, Brasileirao Play and Liga1 Play, the official streaming platforms of the Argentine, Brazilian and Peruvian soccer leagues respectively, which are housed within and powered by Fanatiz, providing global reach to its subscriber base in over 100 countries.
Houlihan Lokey served as Fz Sports’ exclusive financial advisor in connection with this transaction.
ABOUT FZ SPORTS:
Fz Sports is a global sports media and technology company dedicated to professionalizing the sports industry and connecting sports fans with the content they love. Its mission is to leverage new technologies and innovative business models to optimize the sports value chain, reinventing the way rights holders, brands and audiences connect. It operates three independent businesses: 1190 Sports, Fanatiz and Nunchee.
1190 Sports: Manages and commercializes sports rights – broadcasting, image, and distribution – providing a unique value proposition allowing leagues, federations, and brands to strengthen their connection with consumers.
Fanatiz: The largest global sports streaming service for Hispanic audiences, with paying subscribers in over 100 countries.
Nunchee: Provides white-label technology and know-how to create and operate direct-to-consumer streaming services focused on sports content.
