SportsTech Investment Recap – June 7th
This week’s investment recap highlights several large-scale club takeovers in the. world of soccer as well as investments into the performance & esports fields. Stay up-to-date!
Saudi Crown Prince launches Sports Investment Project
Saudi Crown Prince Mohammed bin Salman launched the Sports Clubs Investment and Privatization Project on Monday, which aligns with the Vision 2030 goals to elevate the sporting scene in the Kingdom. This is set to foster investment opportunities and create an appealing investment environment in the sports sector.
Harry Kane Invests in OxeFit, AI Fitness Startup Passes $45M in Funding
English Premier League soccer star Harry Kane has become the latest athlete to invest in OxeFit, an at-home workout machine powered by artificial intelligence. OxeFit has now raised more than $45 million in total funding, and its sales have increased 200% year-over-year, the company said.
MyRacehorse Raises $7M in Funding
Experiential Squared (E2), a Claremont, CA-based parent company to the global racehorse ownership platform, MyRacehorse, raised $7m in funding. The round was comprised of several investors led by 1/ST, through its 1/ST RACING & GAMING and 1/ST TECHNOLOGY business divisions.
Birmingham investment approved by EFL
The EFL has approved Tom Wagner’s imminent investment in Birmingham. The American financier and his company, Knighthead Capital Management, has agreed to purchase a 45 per cent stake in Blues under Shelby Companies Limited.
English league’s Wigan Athletic agree to sale
The ownership group of EFL League One football club Wigan Athletic has agreed to sell the club to a ‘new buyer’ amid financial difficulties. The news follows a turbulent weekend for the Lactics, which saw two club directors resigning amid the financial crisis.