Footballers join Andy Murray in £25m Game4Padel
Padel business Game4Padel has been valued at £25.2m in its latest funding round, with the company raising £1.75m from investors including Everton striker Dominic Calvert-Lewin and Leicester City striker Jamie Vardy.
The Edinburgh-based company’s sixth successful fundraising round in four years was heavily oversubscribed, attracting a mixture of debt and equity capital that will help the company accelerate its plans to develop a UK-wide network of padel facilities.
Dominic Calvert-Lewin and Jamie Vardy join more than 100 other shareholders in the company, including tennis star Andy Murray, Liverpool FC and Dutch international footballer Virgil van Dijk and TV presenter and former British number one tennis player, Annabel Croft. Game4Padel has raised £10m in total since it was founded at the end of 2018.
Jim McMahon, chairman of Game4Padel, said: “We are already the largest padel operator in the UK, with four times more venues than any other operator, and are opening more courts rapidly as demand grows. This month alone we are opening four sites and hope to have another three open by the end of this year, with at least 20 more venues next year.
“The potential for padel to continue to grow in the UK is huge as the sport has transcended traditional sports clubs, and courts are now being installed by a wide range of property owners, developers and landlords. This makes it an exciting proposition as an investment because our pool of potential partners is so expansive.”
Game4Padel already has 15 venues open across the UK, with four opening imminently, as well as a site in Melbourne, Australia and one in Spain (Oliva Nova Beach & Golf Resort). It plans to build up to 300 new courts within the next five years.
The company has secured partnerships with world golf governing body Royal & Ancient, leading urban regeneration group Scarborough, leisure club groups Virgin Active and Freedom Leisure and the UK’s largest social sport and leisure operator, GLL.
Jim continued: “We have worked hard to develop meaningful partnerships where we can build venues that will be busy. It’s not enough to just create beautiful courts at interesting sites – it’s essential that we have identified the right location at the outset and that the club is supported after the install to build a vibrant padel community. Whilst expansion is obviously very exciting, we remain focused on ensuring our existing venues are thriving.”
Game4Padel locations include Thistle Padel Club, Edinburgh, Barnton Park LTC, Edinburgh, Windsor Penarth LTC, WAles, Huddersfield LT&SC, Yorkshire, Broxbourne Sports Club, Hertfordshire, Heron Tennis Centre, Newquay, Ipswich Sports Club, Suffolk, Withdean Sports Club, Brighton, Parabola Edinburgh Park business park, West View Better Leisure, Preston, Virgin Active Chiswick Riverside, GolfIt!, Glasgow, Crystal Palace National Sports Centre, Bloom Heathrow London, Bedfont Lakes, The Padel Yard, Wandsworth, Chesham 1879 Tennis & Squash Club (opening soon), Better Gosling Sports Park, Welwyn Garden City (opening soon), Grappenhall Sports LTC (opening soon), Liverpool Cricket Club (opening soon), Berkeley St George, Southall (opening soon).
The company also has overseas venues in Melbourne, Australia, and in Spain and has a further 25 venues secured to open in the UK, Australia and New Zealand and is in negotiations with many more.
Game4Padel boasts a diverse group of UK investors and ambassadors, including former world No 1 tennis players Andy and Jamie Murray, Liverpool FC and Dutch international footballer Virgil van Dijk, TV stars and former British No 1 tennis players Annabel Croft and Andrew Castle and Welsh rugby legend Jonathan Davies. 🎾
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