The Dubai-based Group IPG and Redstrike announce the establishment of a joint venture to further expand their working relationship with the aim of strengthening their combined resources to grow sports rights globally, deliver 360-degree media productions and develop emerging sports in South-East Asia.
The joint venture will also see IPG become the cricket and media arm of Redstrike and will be led by Redstrike Commercial Director and former Commercial Director of Cricket Ireland, Dennis Cousins
Redstrike IPG will oversee all commercial activity for the Sri Lanka T20 Cricket League (LPL) which is due to take place in December 2021. The company will have a presence in both Dubai and Dublin and will work in partnership with other Redsrike and IPG’s offices in the UK, Asia, South Africa, Pakistan and India.
Redstrike IPG recently acquired the Commercial Rights of Scotland versus Zimbabwe T20 series which took place in September and was live-streamed globally. The new venture is also currently in the process of evaluating and acquiring other cricket and sports rights globally.
Redstrike’s Vision for this Joint venture is to expand and acquire new media and commercial rights in emerging markets, not only in cricket but within all sports associated with IPG and Redstrike. Redstrike will use the export champion program and it’s best-in-class services to create a long-lasting and successful Joint Venture with IPG.
Redstrike is proud to be the only UK department of International Trade Export Champion for Sport, allowing access to a network of over 275 International Trade Advisers, complete support from, and access to British embassies abroad, gaining Redstrike governmental support in almost any nation.
Anil Mohan, the CEO, The IPG Group, said “I’m delighted to formalize our partnership with Redstrike by creating this new joint venture. Working with Redstrike is a natural step for IPG to grow our media business globally through the Redstrike network and utilizing the vast expertise that Redstrike has working with sports organizations globally. From the outset, I’ve been excited by the vision of Mike Farnan and am confident that our own experience and relationships and footprint in South-East Asia, especially in cricket, will open new doors for Mike and his team through Redstrike IPG.”
Mike Farnan, Group CEO Redstrike, said “Having joined the advisory Board of The IPG Group a number of months back, it became apparent quickly that there were huge synergies between both Redstrike and IPG that could be built on to create new opportunities for both brands. Delivering 360-degree experiences across multiple sports and acquiring new sports rights is high on the agenda for Redstrike IPG. While Redstrike has grown our own range of services over the last number of years, working with Anil will now enable Redstrike IPG to exploit new media opportunities through IPG media services.”
Dennis Cousins, Managing Director Redstrike IPG, said “Managing the Redstrike IPG Joint Venture is something which I’m really looking forward to. I’ve been hugely encouraged by the visions of both Mike and Anil and this is a challenge that I’m relishing. There are not only significant opportunities for both organizations to grow in South-East Asia but in Europe too where Redstrike is a leading sports rights owner and where IPG have built up a strong reputation for high-quality TV production especially in cricket. Having the opportunity to lead the team and combine the resources of Redstrike and IPG will enable us to open up new opportunities globally and to provide more added value to our existing client base.”