LaLiga is the first of the top 5 world football leagues to sign a major NFT partnership
It will allow LaLigo to expand the Clubs’ international brands by reaching new fans and creating a new revenue stream
Sorare is a marketplace to trade digital cords from more than 180 football clubs, and has over 500,000 registered users on the platform
Madrid, September 9th 2021. Sorare, the fantasy football platform, has today announced a partnership with Spain’s LaLiga to launch non-fungible tokens (NFTs) for all of its players, creating new revenue streams for LaLiga Clubs via a new category of licenses.
Thanks to this offering, LaLiga fans, collectors and fantasy football players will for the first time be able to freely trade and play with digital cards of players from LaLiga. Sorare’s mission is to build “the game within the game” and to give fans the platform to celebrate, share and own their football passion.
The partnership represents a major milestone for Sorare as it strikes a deal for the first time with one of the biggest leagues in the world, home to world-class football clubs such as Real Madrid, FC Barcelona, Atlético de Madrid, Villarreal CF, Valencia CF, FC Seville and Real Sociedad, among many others. Sorare plans to partner with every one of the world’s top 20 football leagues by the end of 2022.
The partnership, which covers both LaLiga Santander and LaLiga Smartbank, is a significant development for LaLiga as it moves into the NFT space for the first time, highlighting the global interest in the fast-growing NFT card space which has sold more than $130M in cards this year.
Javier Tebas, President of LaLiga, commented:
“At LoLiga we are always looking [or innovative ways to o|fer our [ans new and exciting experiences and to broaden the appeal o[ our competition, the greatest in the world. This partnership with Sorare, the most exciting sports NFT projects today, enables us to reach new audiences globally and gives existing [ons additional ways they can get involved with the players and the cluhs they love.”
Nicolas Julia, CEO and co-founder of Sorare commented:
“NFTs are the [uture o[gIo6aI sports [ondom because they allow [ans to come together and to [eel ownership o[ the sports they love.
“This partnership isn’t just a sign o[ Sorare’s growing leadership in the NFT sports space, it is a major signal o[ intent fry the sporting world that it sees Sorare’s unique ability to connect [ans with sports through NFTs as a crucial port o[ their plans [or the [uture.
“LoLigo is one o[ the hest leagues in the world, home to some o[ the most exciting cluhs and[oothollers on earth. We are very proud that they have 6ecome our[irst ever league partnership, and we ore looking [orward to working together in the years ahead.”
Sorare cards are NFTs, meaning each card is unique, scarce, and its ownership can be publicly verifiable via the blockchain. Sorare’s combination of NFT technology with sports cards and a fantasy game is the leading next-gen offering within football, and backed by football legends including Gerard Piqué, Antoine Griezmann and Rio Ferdinand. Through the collecting, owning and trading of limited edition digital collectibles, Sorare has created a unique game experience where users can own their game, build real-world connections and protect and control their assets in a secure space.
Sorare’s next-generation gaming experience will help LaLiga and its clubs to expand their international brands by reaching new audiences of fans, including crypto- enthusiasts in the US and Asia, where Sorare is growing strongly, and fantasy gamers across the globe. The partnership opens up a new revenue stream for LaLiga clubs by creating an entirely new licensing category: NFTs.
The partnership means that Sorare now has the majority of the top 100 football clubs in the world under license, including global clubs such as Liverpool FC, FC Bayern Munich, Paris Saint-Germain FC, and Juventus FC.
The partnership is designed to promote the global growth of LaLiga and the clubs as part of its strategy to become a leading global player in the digital entertainment market
The agreement was approved unanimously today by the LaLiga Executive Committee (Comisión Delegada) and will be proposed to the league’s general assembly
MADRID, 4 August 2021.- LaLiga announces a strategic agreement called “Boost LaLiga” with the leading global investment fund CVC which will see a cash injection of 2.7 billion euros into the competition and its clubs. This ambitious investment plan, approved unanimously today by the league’s Executive Committee (Comisión Delegada), will provide LaLiga and the Clubs with all the necessary resources to fulfil its transformation strategy to become a leading global player in the digital entertainment market, while at the same time bolstering the competition and transforming the fan experience.
The transaction values LaLiga at 24.25 billion euros, a price tag that acknowledges LaLiga’s leadership as one of the most prominent sports competitions in the world, as well as recognizing its growth potential through a greater digital presence. In a coordinated effort between LaLiga and its clubs, the league will target greater direct interaction with fans, investment in the brand, the sport and in the internationalization of both. This is a higher figure than previous assessments considered for other projects with similar characteristics, which can only reflect the excellent work that has been carried out by LaLiga to date.
This agreement aims to lead the transformation currently experienced in the global entertainment sector, and to maximize every growth opportunity available to the clubs to develop a new business model that will allow them to diversify and maximize revenues through marketing models that will help to accelerate their digital transformation. Moving from the current single-product model, based almost exclusively on the game and the sale of audiovisual rights, to a multi-product/multi-experience one with a direct relationship with fans, amplified by technology and digital and analytical capabilities. In this sense, LaLiga is already well on the way to becoming a global player, with the best entertainment content, a strong digital presence and the ability to capture and analyse data that facilitates direct omnichannel interaction with fans all over the world, with a clear focus on the optimization of their experience with the brand.
The investment in improving the competition will drive growth in fan numbers and their experience with LaLiga. The technological capabilities of the LaLiga and the clubs’ ecosystem will also be strengthened, offering new content, new channels and new markets.
90% of the 2.7 billion euros proposed to be invested by CVC Funds will be earmarked for the clubs, including women’s football, semi-professional and non-professional football under the guidance of the Royal Spanish Football Federation and the Higher Sports Council (more than 100 million euros). Thus, making this strategic agreement an inclusive, equitable and democratic one that not only bolsters the economic viability of all Spanish football clubs but also opens up a new present and future for them by allowing them to advance in their development and transformation by at least a decade.
The resources provided by the agreement between CVC and LaLiga will also have a multiplier effect, not only in the world of football, but also in its contribution to building Spain’s image abroad via Brand Spain, in creating jobs for the sector and in attracting talent.
For the implementation of this strategic plan, the clubs take on a commitment to allocate the investment they receive to the promotion of their own Development Plan, agreed with LaLiga, which will include the following main areas: sports strategy, infrastructure, international development, brand and product development, communication strategy, innovation, technology and data plan and content development plan on digital platforms and social networks. All incorporating sustainability, good governance and diversity as fundamental values of the model.
LaLiga will keep its sports responsibilities as well as the organization and management of audiovisual rights sales.
CVC Funds bring to this project its financial firepower, its management capacity and its expert knowledge in the development of sports businesses thanks to its extensive experience of over 25 years in international competitions such as rugby, volleyball, tennis, Moto GP, Formula 1, plus the relationships it has firmly established with essential technological partners for the implementation of the specific projects contained in this plan.