54 and MCIS, the group behind A1 Padel, took another bold step towards their plan to significantly grow global participation and develop world-class tournaments in the booming sport by strengthening their relationship with a Heads of Terms agreement.

The partnership officially started with an MOU in February with 54 offering high-level strategic advisory services to develop A1 Padel’s business vision, market positioning, operational efficiency and stakeholder engagement to enhance global penetration and business growth.

After an intense period of data, insights and research to fully understand the commercial opportunity the two have now signed Heads of Terms and are set to announce their longer term plans with an announcement in September.

Fabrice Pastor, owner of A1 Padel and principal promoter at MCIS, said: "I have championed the need for innovation in sport for a long time and am excited to announce full details of our plans in the coming months. It was clear from our first interactions that 54 were approaching the opportunity in padel from a different perspective from anyone else I had met before and that, alongside their operational experience, has made them an invaluable partner.

"We’re looking forward to sharing details with the relevant stakeholders in the coming weeks, and to announcing full plans thereafter; the future for padel is an incredibly exciting one."

Jed Moore, 54 Group CEO, said: "The last few months have been both exciting and eye-opening as we have gained a deeper understanding of the sport of padel, and there is no question the opportunity that exists for everyone involved in the game.

"We’re excited to be working with MCIS and Fabrice to deliver a new offering in the sport, one which will create new layers of value to benefit stakeholders, players, investors and most importantly, fans. We will share full details in due course, including around new events which will launch later this year, but in the meantime we are focused on engaging with relevant stakeholders and potential strategic and supplier partners to ensure the benefits of the opportunity can be felt throughout the sport."

54 has extensive experience in ideating strategic models for both established and emerging global sports, and has acquired and built a number of portfolio businesses which provide a range of market-leading services including stunning brand and event activations (Behind The Volt, Reddoor Live), content creation (MOB) and integrated digital fan experiences (Entourage).