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Northridge TRACK Quarterly Update: Q3 2021

Welcome to the inaugural edition of our new Northridge TRACK newsletter – bringing you a showcase of recent news about our members and highlights from recent months. Northridge TRACK was launched in 2019 to bring together a community of growth businesses and industry participants focused on the application of technology to sport and entertainment. It is run by us (Northridge), one of Europe’s leading sports law practices, and seeks to combine core legal excellence, market expertise, and a network of established rights holders, brands and investors on the one hand and the ‘sports tech’ sector’s hottest prospects on the other, who might not otherwise be in dialogue. Much has happened in the two years since launch – some of which is highlighted in our newsletter. Highlights include seeing STATSports’ successful launch into the consumer wearables market, supported by Northridge clients Raheem Sterling and Alex Oxlade-Chamberlain as ambassadors and investors. Athlete partnerships with sports tech companies has been a key theme, exemplified also by the launch of GetMetrix’s AI / AR football improvement app in partnership with another of our clients, Kevin de Bruyne, following a successful £2m fundraising round and ‘flip’ of the company from Australia into the UK. Assisting with both strategic and legal aspects of the transition to the European market for overseas businesses is a core part of our offering and we were delighted to have been appointed earlier this year by the US social commerce innovator, FEVO, to advise on their European expansion. And, developing the theme of successful fundraises, it has been exciting to see long-standing clients such as Edge and StatsBomb close capital raises at late Seed and Series A stage recently. On the buy-side, there is no better exemplar of the transformative impact of applying data to an industry than Two Circles’ growth in the agency sector, with our role in advising Two Circles and its investor, Bruin Capital, on its acquisition of TRM Partners a clear highlight. In the same vein as our clients, we don’t stand still and have recruited heavily to bring in magic circle technology and investment/M&A experience to support our legal offering. We also added a gambling practice, led by Melanie Ellis and Tom Edmonds. We are also pleased to announce a new partnership with the leading Global sports innovation hub, Stadia Ventures, coinciding with their European expansion. Stadia will be a key pillar in our strategic support through Northridge TRACK and we look forward to hosting a series of events with them over the coming months (of which more to follow). Finally, we have secured a fantastic line-up for our latest ‘Sports Tech Talk’ in conjunction with Drake Star investment bank, with senior executives from SailGP, Two Circles / Rugby X and E1 Series, ably compered by the inimitable Roger Mitchell, on 20 October. As a broader firm, like everyone in the sports industry, we are glad to see that the shoots of post-pandemic recovery have grown into fertile activity this year across both the contentious and non-contentious sides of our business. Advising Everton owner Fahrad Moshiri on the acquisition of his controlling interest in the club, World Rugby on its independent governance review, Betway on its global sponsorship portfolio and expansion into the NBA and NHL, Raheem Sterling on his New Balance deal, and continuing advice to the likes of Chelsea FC and The FA are some of our recent highlights. In recognition of our top tier work in the sports industry, the firm continues to be ranked in Tier One for Sport in both leading legal directories. There is much more on some of the above in our newsletter so please do delve in. Our excitement at the possibilities for Northridge TRACK and pride for its members is probably clear, but our work in the area is only as good as the community it creates and we would very much welcome feedback, comments or suggestions on where we go from here and what we could do better. Enjoy!