Playmaker Capital announced that it had acquired 100% of media company Underdog’s digital assets, including JuanFutbol. With this deal, the digital sports media giant aims to develop the brand in Latin America and the US Hispanic market by using the Mexican company’s portfolio of highly popular social media profiles, digital channels, and sports-focused web properties.
JuanFutbol offers digital soccer content to more than six million followers on social networks through Facebook, Instagram, Twitter, TikTok, and YouTube. Together, JuanFutbol’s social networks generate a monthly reach that exceeds 50 million. Playmaker Capital plans to integrate these social channels with its brand FutbolSites, improving the execution of sponsored campaigns in the region and, more broadly, throughout Latin America and the United States.
The Mexico City-based company will contribute its team of social media experts, media planners, video editors, copywriters, designers, and data analysts to Playmaker’s goals of establishing high-value partnerships heading into the World Cup, FIFA Qatar 2022, and beyond.
Both Companies Look Forward to Cooperating
Federico Grinberg, executive vice president of Playmaker Capital and CEO of FutbolSites, had high praise for the company’s newest brand.
“JuanFutbol is one of the most respected and recognized brands within the sports media industry in Mexico.”
Federico Grinberg, Playmaker Capital executive VP, and CEO of FutbolSites
Grinberg added that JuanFutbol’s assets were an excellent complement to Playmaker’s Mexico assets and would help the company solidify its place in the market. He expressed hope that through their combined efforts, they would be able to offer advertisers unparalleled quality and reach.
Miguel Ramírez Lombana, CEO and co-founder of JuanFutbol, was also excited about the team’s new opportunities. He noted that 2022 would be critical for the business thanks to the greatly expanded opportunities due to the World Cup. Lombana added that PlayMaker was the perfect company to help JuanFutbol achieve even greater success.
“Playmaker’s commitment to building the most relevant ecosystem in digital sports media is unprecedented, and we are proud to add our brands and experience to their successful ride.”
Miguel Ramírez Lombana, JuanFutbol CEO and co-founder
Playmaker Will Acquire a Wide Range of Assets
After the acquisition completes, Playmaker will also add several other brands to its portfolio. These include JuanBeisbol, the first baseball-oriented brand to join the Playmaker ecosystem, and FridaPop, focusing on women’s sports. The latter will complement the company’s other female-orientated brand – Chile’s RedGol Fem.
The purchase price was $400,000 in cash and 421,754 newly issued Playmaker shares, priced at CAD$0.75 each. JuanFutbol sellers can also receive up to an additional $2.1 million if the newly acquired company exceeds set revenue and performance targets by the end of 2023.