FILE PHOTO: Fireworks are seen at the start of the final of the Spain's Kings League between El Barrio and xBuyer Team at Civitas Metropolitano stadium in Madrid, Spain, July 29, 2023. REUTERS/Juan Medina/File Photo
Feb 3 (Reuters) - The Kings League seven-a-side soccer format announced on Tuesday it had raised $63 million from investors led by U.S.-based Alignment Growth to support global expansion projects, taking its total funding since its launch in 2023 to over $160 million.
“We have proven that our model works at scale. This funding allows us to accelerate our expansion, continue innovating the format and explore strategic M&A opportunities that support our long-term vision,” Kings League CEO Djamel Agaoua said in a statement.
Created by former Spain defender Gerard Pique in 2022, the league has regional hubs in European countries including Spain, Germany and France. The investment led by Alignment Growth, a media and entertainment investor, will support its launch in the U.S. following its recent start in Saudi Arabia.
The seven-a-side format consists of gamified rules to create extra glitz and excitement and is part of an emerging pool of buzzy new leagues seeking to harness an online audience and compete with traditional 90-minute football.
“Our investment in Kings League reflects our conviction that digitally native sports properties are uniquely positioned to capture powerful, long-term growth as younger audiences shift how they discover and engage with sports,” said Alignment Growth Co-Founder and Managing Partner Kevin Tsujihara.
(Reporting by Streisand Neto; Editing by Toby Davis)
