MADRID: The Spanish league is set to announce a new joint venture to expand its reach in the Middle East, North Africa and the Indian subcontinent on Tuesday, continuing its push to grow internationally and narrow the gap to the Premier League.
The deal is expected to generate 3 billion euros ($2.9 billion) in revenue and will be similar to what the league did with entertainment group Relevent Sports to help promote soccer and the league in North America, a source close to the agreement told The Associated Press.
The Spanish league will have a 50-50 participation in the 15-year joint venture with multinational esports and gaming organization Galaxy Racer, which has expertise in the region, the source told the AP on condition of anonymity because the deal has not been officially announced.
The league wants to significantly increase the presence of its clubs and Spanish soccer in this “strategic part of the world.” The goal is to target younger audiences in an area with 1.3 billion people under the age of 30.
The Spanish league said it already is one of the most popular leagues in the area. Dubai was the first international office the league opened back in 2013.
The German has not broadcast in the region in the recent past, and the Italian league has limited distribution in the area, backers of the new venture said.
The 15-year deal signed in 2018 with Relevent, co-founded by Miami Dolphins owner Stephen Ross, included an agreement to play regular-season games in the United States, but the league is yet to make it happen because of challenges involving some clubs and the Spanish soccer federation.
The Spanish league in August signed a multi-year deal to have video gaming company EA Sports as its title sponsor beginning next season.