Businessman Jonathan Rowland, who is a co-founder of Redwood Bank, has announced the launch of his latest enterprise R3 Sport, which has been established to invest in the sports and entertainment sectors, with a particular focus on the fast-growing sport of padel tennis.
Longer term, it also plans to focus on pickleball and other up and coming sports. The company has raised capital from private investors and secured credit facilities worth several million pounds to deliver its strategy of building padel tennis venues; to work closely with padel tennis brands to sell their merchandise; organise padel tennis events and manage elite athletes in the sport.
The Private investors include Nikhil Mohindra who is a co-founder of R3 Sport and Sam Jones, both Team GB players. In its first 12 months, it plans to start building two padel tennis venues in the UK that will have between 16 and 20 courts.
It will also announce major events, and the scouting of elite padel tennis players here and abroad, who it will manage. There are currently over 90,000 people in the UK who play padel, and R3 Sport says this number has increased by around 1,380% since 2020.
The number of players in the country is predicted to reach 600,000 by the end of 2026. There are only around 350 padel courts in the UK, and this is expected to grow to 1,000 within the next two years.
R3 Sport is working closely with JMW Solicitors’ Padel Business team, advising R3 Sport on all aspects of its business, including infrastructure, exploitation of rights, commercial partnerships and franchising opportunities. Jonathan (pic) who is also chair of R3 Sport said: “Padel tennis is one of the fastest growing sports in the world. It’s easy for people of all ages to pick up and is very sociable.
“However, a noticeable lack of infrastructure and facilities has placed the UK in a disadvantaged position in this sport, thereby creating a substantial investment window of opportunity. By establishing a dedicated enterprise focused on padel, financed and under the leadership of seasoned professionals, we aim to become a pivotal driving force in shaping the future of padel within the United Kingdom.
“We have created a versatile sports enterprise with a primary emphasis on padel tennis, and our foundational concept revolves around exclusive sports facilities, fortified by partnerships with Bullpadel, top-ranking players in the UK, retail establishments, prominent brands, and charitable, as well as corporate events.”
Venues - R3 Sport has identified the opportunity to build and deliver the best purpose built padel venues/multi-use clubs in the UK, and beyond. R3 is in exclusive talks and final negotiations to acquire and or invest in pre-existing clubs in the UK and elsewhere in the world.
Brands - R3 Sport , through its partnerships with MRH Sport Ltd, has signed an exclusive distribution deal with Bullpadel to sell their merchandise in the UK & Ireland. This also involves brand sponsorship for R3 athletes. CHIQUITA is its soon to be launched, dedicated premium athleisurewear brand for racket sport players and enthusiasts. R3’s intentions are to source further brand distribution agreements and partnerships in the future.
Events - R3 Sport events will range from grassroots to exhibitions, corporate, festivals, charitable and major sporting competitions. All its events will serve as a platform to capitalise on commercial partnership relationships, brand activations, and player representation.
Management - R3 Sport will offer full-service management for elite athletes. This will include sourcing sponsorship, player management and investment, player profiling and marketing, including social media services.
The founders of R3 Sport bring a wealth of experience across all levels of the sports industry, including elite athlete representation, forging commercial partnerships, executing sponsorship activations, and delivering high-profile events. Furthermore, our expertise extends beyond sports into financial services and various sectors of the business community.
