Discovery Communications has led an investment round, taking a 20% stake in Play Sports Group and a seat on its board.
Play Sports Group is the digital sports media company behind cycling brands Global Cycling Network (GCN) and Global Mountain Bike Network (GMBN) that make more than 1,100 videos a year available on YouTube.
The company will launch further channels in cycling and across other sports, hiring up to 150 people for newly created digital and creative roles over the next two years – predominantly based at its HQ in Bath UK, as well as a small number based in new international offices.
Discovery leads this latest round of funding, which also has been supported by its existing investor group – including Andrew Croker (Chairman), Oli Slipper (Non-Exec Director), John Gleasure and Stef D’Anna (Perform), Tony Ball (ex Sky and BT), Paul Bolwell (ex Wiggle) and Humphrey Cobbold (Pure Gym, ex Wiggle). Ralph Rivera, Managing Director, Eurosport Digital and Sameer Pabari, SVP Business Development, Eurosport will join the newly formed Executive Board.