Tuesday October 3, 2023

British Sportswear Company Valued at $864M

  • Castore has raised the capital through a revolving credit facility.
  • Banks HSBC, BNP Paribas, and Silicon Valley Bank are all part of the RCF.
Castore
Front Office Sports Today

NBC Could Get In On College Football Playoffs

NBC is exploring broadcasting a slice of the expanded CFP in 2026.
Listen Now
October 3, 2023 | Podcast
Linkedin
Copy Link
Link Copied
Link Copied

British sportswear brand Castore has raised $57.6 million, valuing the company at $864 million. 

Backed by three-time Grand Slam winner Andy Murray and Pure Gym co-founders Peter Roberts and Brian Scurrah, Castore will use the funding round to improve its financial flexibility as it provides the company with more liquidity while maturing committed debt facilities. 

  • Castore has raised the capital through a revolving credit facility, which has an initial maturity of three years.
  • Banks HSBC, BNP Paribas, and Silicon Valley Bank are all part of the RCF.
  • Castore has an option to extend the RCF by an additional year to $86.4 million

Castore, which has 11 brick-and-mortar stores across the U.K., has established a presence in the sportswear industry through kit sponsorship deals in soccer, rugby, cricket, and Formula 1. 

Last year, Castore secured a multiyear kit deal with the Premier League’s Wolverhampton FC for an undisclosed amount and with Newcastle United in a deal worth $6.9 million annually. 

In May, it signed a deal with Aston Villa to be its kit supplier starting from the 2022-23 season. 

Castore is the team kit provider for F1’s McLaren Racing and it also has a multiyear deal with England’s men’s and women’s national cricket teams worth $34.6 million over 10 years. 

Finances

Castore is projected to report $23 million in EBITDA in FY2023, co-founder Tom Beahon said. The company is also estimated to have a turnover of $230 million in the fiscal year.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
LIV Golf flag pin

Saudi Prince Dismisses Sportswashing Claims Post Newcastle, LIV Golf

Saudi Arabia’s Crown Prince Mohammed bin Salman is bullish on sports.
Sponsored

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier
podcast thumbnail mobile
Front Office Sports Today

NBC Could Get In On College Football Playoffs

0:00
0:00

Featured Today

Football analyst and PFF investor Chris Collinsworth talks to man in front of computers

Cris Collinsworth 'Lost a Lot of Sleep' Over Pro Football Focus Leadership Issues

New book details why it’s no longer a “happy place to work.”
NBC is interested in media rights to the expanded College Football Playoff.
exclusive
October 2, 2023

NBC Is Interested in Expanded College Football Playoff Media Rights

NBC is one of the networks pitching the CFP, a source confirmed.
October 2, 2023

MLB Attendance Surges 70 Million, Tops League Projections

League posts best year-over-year increase at the gate since 1993
Levi's Stadium
October 2, 2023

49ers Study Shows Benefits of Public-Private Stadium Deals

Levi’s Stadium has generated more than $2 billion per new study.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
Chicago
Fanatics
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations

EA Rewarded For Decision To Split With FIFA

Company sees strong uptick in pre-release sales activity
A view of the Charlotte Hornets jersey with new jersey patch sponsor Feastables.
October 2, 2023

MrBeast Lands The First Creator-Led Brand Jersey Patch

Feastables will be the Charlotte Hornets’ official jersey patch sponsor.
Liverpool players celebrate after a goal.
September 28, 2023

FSG Sells $200M Liverpool Stake To Private Equity Firm

New York-based private equity firm makes its first deal
BioSteel
September 28, 2023

BioSteel Bankruptcy Shows Perils of Costly Sports Partnerships

BioSteel spent heavily on partnerships deals before bankruptcy.
WWE-Wrestling-Ring
September 26, 2023

Panini Picks Up Legal Win, Will Still Make WWE Trading Cards

New York judge denies WWE's bid for restraining order
September 25, 2023

Hollywood Writers' Deal Would Boost Sports Networks and Agencies

Several major sports media entities, talent agencies exposed to strike's effects
September 21, 2023

TKO Makes First Big Move After WWE-UFC Merger

Investors drop TKO shares by 15% following SmackDown rights deal
Deion Sanders
September 19, 2023

Deion Sanders' Sunglass Tiff Nets Eyewear Company Nearly $4.5 Million

Sanders has Midas touch for sunglasses sponsor Blenders.