We were able to learn this week that le World Padel Tour strengthened its organization through a new minority investor.
The long-standing partner of the organization, Dam, has decided to bring in a new player to consolidate the financial structure of the WPT.
A new organization
As seen just now the group Dam, the sole shareholder of the WPT, opened its capital and consequently had to modify its entire structure.
It is Rucio Investments which was chosen to enter the game. The group decided to add 37 Euros to the company's share capital.
There will therefore be a new member to the board of directors: Ignacio Aguillo.
The latter is a very important person in the world of sport, who has had positions of responsibility in sports organizations such as Atlético de Madrid or RC Lens in France, as well as in other sports clubs and leagues in Europe, Asia and North America.
In addition it changes the entire structure of the World Padel Tour because the circuit is now played through the company Setpoint Events now holding assets of 187 euros.
According to 2Playbook, the World Padel Tour would have accumulated losses of around 12.5 Million Euros since 2014.
This financial gap was filled thanks to long-term loans made by their sole shareholder, the Damm group, which recently decided to look for a new partner to cover the debts and above all to gain profitability.
The Covid-19 crisis did not help the WPT: first the first post-containment tournaments in Spain were played behind closed doors, and a few weeks later, when the public was able to return to the stands, the maximum gauge was 50%. Receipts have also dropped considerably due to the fact that almost all tournaments were played in Spain and not in other countries of the world as was initially planned.
While its players are coveted by the competition, Rucio Investments intends to help the WPT to remain the benchmark circuit.
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