23 Capital opens Barcelona office for sports team

23 Capital, a financier that specialises in providing capital to sports clubs and organisations, has opened its fourth international office in Barcelona.

The office will serve as the base for 23 Capital’s dedicated global sports team and will be led by the business’ managing director of sport Jonny Nye, a former EMEA sports marketing director at sportswear company Nike.

The company, which was founded in 2014, works with teams and associations across European football, as well as other sports, such as tennis, cricket, rugby union, motorsport, motorcycling and basketball. Its client portfolio in football includes the likes of Barcelona and Benfica, the defending champions of the Spanish LaLiga and Portuguese Primeira Liga.

In January, 23 Capital, which also works in the entertainment and music sectors, secured a major investment in SRM Sport & Entertainment, a commercial rights business.

Chief executive and co-founder Jason Traub said that the sports team would continue to explore “the business opportunities presented by the digital transformation shaping the industry” following the incorporation of SRM.

He added: “Spain is one of the largest markets in world football, so it was essential that 23 Capital have a specialist sports team operating in one of the great sporting capitals of the world.”

A spokesman for Capital 23 told SportBusiness Professional that the Barcelona office will have about eight members of staff.

The London-based company, which already has offices in Los Angeles and New York, announced last month that Otro, the digital platform founded by 23 Capital and 17 of the world’s leading footballers, is moving away from a subscription model to become “a digital content studio” seven months after its launch.