Bruin Sports Capital has confirmed a deal with WPP to acquire a majority stake in Two Circles. Terms of the agreement were not disclosed and subject to the regulatory approvals of the European Commission.
Bruin says its investment will benefit Two Circles as the company broadens its offering to clients, continues to invest in its machine-learning-driven tech stack and looks to scale in new markets.
WPP will continue to hold a minority stake in Two Circles – allowing the agency’s clients to continue to have access to WPP, its global network, and its brand clients.
Gareth Balch, Co-Founder and CEO of Two Circles, said: “The sports industry is moving from a B2B model to a direct-to-consumer model where growth will be centred around a direct relationship between sports and fans. Over the last eight years, we believe we have built proven models that can take sports properties on this journey. With Bruin’s backing, experience, and relationships in global sport, we have the perfect platform to enter the next phase of commercial growth – both for our clients and as an agency.”
George Pyne, Founder and CEO of Bruin, added: “As we look to the future of the sports economy, everything we do will trace back to how we can leverage consumer data intelligence to spur growth. Two Circles has been way ahead of the industry on this and has developed a new breed of agency that serves every business unit of a sports organization. We are excited to have them formally join Bruin and look forward to working even more closely with their great team.”
Two Circles has been affiliated with Bruin since 2017, serving as the marketing arm for OverTier, a venture created by Bruin to operate NFL Game Pass, the league’s SVoD service.