Goals Soccer Centres establishes joint US venture with Manchester City owners CFG

 
Alys Key
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Nick Basing, chairman of Goals (left) and Ferran Serrano, CEO of CGF (Source: Goals)

Goals Soccer Centres has teamed up with Manchester City owner City Football Group (CFG) to make a play for greater expansion in the US.

The 50:50 partnership will absorb the two existing Goals Soccer Centre sites in Los Angeles, as well as projects in the pipeline.

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CFG provided $16m to finance new site openings in North America, which Goals said will free up its own cash to continue investing in its established UK business.

Nick Basing, chairman of Goals, told City A.M. that the expansion would initially target more sites in Los Angeles, before moving on to Texas.

"[The soccer market] has developed very differently over here," he said on a call from Los Angeles.

"In America, 50 per cent of the soccer market is women and in the UK it is 4 per cent. It's also growing amongst young boys here as well, so it bodes well for the future. We have a strong customer base."

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Discussions with rival company Powerleage have currently been concluded, while Goals focuses on the joint venture project with CFG.

The group also posted results for the first half of the year, showing a two per cent sales increase during the period.

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