LONDON – VVV Sports Limited, a company incorporated in the British Virgin Islands with its ordinary shares admitted to trading on the Aquis Stock Exchange Growth Market, has signed non-binding heads of terms in connection with its proposed acquisition of R3 Sport Limited.
The combined business strategy of VVV and R3 is intended to focus on the following areas:
- Event ownership and management (including R3 Bullpadel Cup, Premier Padel events and future International Padel Federation/European/Middle East events)
- Athlete and talent management
- Team ownership and strategic stakes in fast-growth sports franchises
- Brand Acquisition including R3 Sport’s partnership with MRH Sport and Bullpadel.
- Venues, academies and global flagship projects (including Abu Dhabi Centre of Excellence)
- Media rights ownership and content creation (including “Padel Planet” on Mainstream Media)
- Retail and distribution through exclusive partnerships (including Bullpadel in UK & Ireland, Australia and New Zealand and other territories)
The Directors believe that, on completion of the acquisition, the enlarged group will be positioned as the only listed “pure-play” sports investment vehicle focused on the rapid global growth of padel, pickleball, and other emerging and niche sports.
Upon completion of the acquisition, the Board of Directors of the Enlarged Group is expected to comprise Jonathan Rowland, Chairman; Richard Morecroft, Non-Executive Director; Sam Kemp, Managing Director, R3 Sport (subject to completion of customary due diligence), Mahesh Pulandaran, Non-Executive Director) and a further director to be announced.
The consideration for the acquisition is 300,000,000 new ordinary shares in VVV to be issued to the shareholders of R3, valuing R3 at £3.0 million.
VVV and R3 intend to proceed as quickly as possible with the Acquisition, with a view to signing a sale and purchase agreement on or before 30 November 2025.
Jonathan Rowland, Executive Chairman of the Company, is also a director and a major shareholder of R3. Accordingly, the acquisition will be a Related Party Transaction for the purposes of the Aquis Growth Market Access Rulebook.
Jonathan Rowland, Executive Chairman of VVV Sports and CEO of R3 Sport said: “Through the proposed combination of VVV and R3, we intend to create a much larger and financially stronger entity to support our exciting plans for growth. Emerging sports like padel and pickleball are experiencing explosive growth worldwide – driven by surging participation, media attention and commercial interest. However, a clear gap remains in fully professionalising and commercialising these fast-rising sports, particularly across Europe and the Middle East and key global hubs.
“The Directors intend that, once completed, the acquisition will position VVV as a next-gen sports entertainment company aiming to build the most exciting sports entertainment and athlete brand in the world.
“The Directors will seek to blend professional sports events, influencer culture and word-class sports facilities to take advantage of the commercial opportunities across talent, events, media and merchandise.”