Case Study: @Futsal
Deal History
@Futsal Ltd is a facilities management company that operates sports arenas for Futsal, a form of small sided football which is currently one of the fastest growing indoor sports in the world, played by an estimated 30 million people globally, and is the only small-sided football format to be officially recognised by UEFA and FIFA.
Futsal is a relatively new concept in the UK, but is rapidly gaining momentum, with Sport England forecasting a 300-400% growth rate in the uptake of informal ‘small-sided football’.
The sport is also gaining recognition amongst major sports brands and Nike has already agreed to an exclusive deal with @Futsal to sell clothing in the arenas.
Investment Opportunity
Between the four Foresight VCTs, £3.25m of equity capital was committed to support @Futsal’s expansion plans. The investment reunites Foresight with the former management team of Covion, a facilities management business backed by Foresight which was sold to Balfour Beatty in 2007 for £33 million.
Frank Rodriguez, @Futsal’s Managing Director, has proven his ability for success as a Founding Director of Covion and Foresight is backing him again with @Futsal. Frank is also a FA and UEFA qualified football coach and a FA qualified Futsal coach and he currently manages Reading women’s football team in the English premier League. Foresight’s Chris Price is a Director on the company’s board with David Steventon, also a co-founder of Covion, joining as Non-Executive Chairman.
Company Strategy
Following the opening of the company’s first arena in Swindon in January 2009, Foresight’s backing enables @Futsal to target the roll out up to 30 Futsal arenas in the UK over a 4 year period. Each @Futsal arena will have multiple pitches, alongside café, bar and retail facilities.
@Futsal creates its arenas in warehouse facilities, which are available on attractive terms due to the current economic climate.
