Tennis Angels

Financial angels for tennis stars

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FR France
Web http://www.tennis-angels.com/
Maturity

Mature

About the project Edit

Tennis angels is a participatory website that allows internet users to finance young tennis players just beginning their professional careers. Investors receive a return if players progress to the top 100 in the ranking. The website was launched in 2009 by Dimitri Lorin, a former professional tennis player in partnership with Jean-Marie Loinard. The concept comes from Lorin’s observation that the earnings of professional tennis players ranked lower than 200th worldwide (ATP/WTPA) do not cover all their expenses. These players are therefore limited in terms of preparation, their choice of tournaments, and living conditions while competing in world circuits. These constraints slow down their progress and sometimes prevent them from reaching the next level.

Tennis Angels introduces internet users to these high potential players and gives them the opportunity to become key actors in their future success by funding them on an individual basis. The financing requested is on a modest scale (starting at 20 Euros) over 3 years, so that each sponsored player receives 50 000 per season. Therefore 150 000 Euros is necessary to fund each player’s travel expenses, hotels, personal trainer, coach, etc. The sponsors receive 30% of the player’s sports earnings during the year. Tennis Angels claims 20% for profit.

In what ways is this project unique and creative? Edit

While the concept already existed in the music (My Major Company) and film industries (Touscoprod), it is the first time it has been used in the sports industry. Currently, more than 21 000 Euros have already been invested by 281 “business angels” (an average of 60 Euros per sponsor) who can follow the progress of their future champions and stay in touch using tools available on the website including, player videos, a forum, and chat.

What is the social value of this project? Edit

Tennis Angels provides a unique and modern way to finance young tennis players at the start of their careers, helping them concentrate on their performance.

What is the potential of this project to expand and develop? Edit

The Tennis Angels concept can obviously be applied to any other sport, which makes it a particularly relevant pilot project.

What was the triggering factor of this project? Edit

Making a quick buck, 20% of 150,000 is 30,000 per player, vastly more than the costs of operating this website. Kerching!!

What is the business model of this project? Edit

See above, we make 30,000 per player we get other people to back financially! 20% commission for matching people with money to those who need it. Of course this means if you can give a player some money without us, well, that might be a better deal for you both financially...


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