Digital football business Dugout has revealed plans to expand into the Middle East and North Africa market after receiving fresh investment of £8.275m (€9.44m/$11.6m).
The investment is led by US businessmen David and Frank McCourt, alongside a number of other strategic smaller-scale investors. David McCourt is founder and chief executive of Granahan McCourt Capital, worldwide investors in technology, media and telecommunications, and also founded ALTV.com, one of the fastest growing free streaming services in the Mena region.
His brother, Frank, is chairman and chief executive of McCourt LP and McCourt Global, and also owns French Ligue 1 football club Olympique de Marseille.
Dugout said the announcement highlights the company’s focus on Mena, with Arabic to be added to its language base in the coming months, although it added it is expected to make further announcements in the coming weeks about other territories and partnerships.
David McCourt said: “Dugout represents an excellent opportunity to capitalise on two significant global trends. Firstly, the huge demand for great, original and highly-personalised content. Secondly, the soaring popularity of football in practically every market.
“Dugout has already done what many thought impossible by bringing the world's top clubs together in one shared enterprise. Now, we want to use this excellent foundation to grow a truly iconic company that inspires fans and brands the world over.
“Our collaboration with Dugout will also enhance the company's tech capabilities and enable it to grow its audience in strategically important markets. For example, the partnership between Dugout and ALTV will deliver exclusive access to original content for football fans across the Middle East and North Africa.”
Elliot Richardson, founder and chairman of Dugout, added: “This investment keeps the momentum going and partnerships with innovators like ALTV and Alchemy Media both enhance our technology offering and open up key markets like the Middle East and North Africa, where we know our club partners have such huge support.”
Dugout represents the first time the world’s biggest clubs have joined forces to create a business, with founding partners including AC Milan, Arsenal, Chelsea, Barcelona, Bayern Munich, Juventus, Liverpool, Manchester City, Paris Saint-Germain, Real Madrid, Inter Milan, Roma, Napoli, Tottenham Hotspur and Atletico Madrid.