SBC News Voice of the Sports Betting Industry
After being launched this summer by The Jockey Club’s Simon Bazalgette and Paul Fisher, Global Venue Services (GVS) will support equine and other sports industry stakeholders in accessing financial capital by launching its ‘Global Venue Finance’ subsidiary.
‘GV Finance’ will work closely with Andrews Bowen, an equine and sports surfaces and equipment company, as well as a group of finance providers chosen for their experience within sport and asset finance to help industry members cover the capital costs of projects.
Immediate clients will include customers of Andrews Bowen, to help them to raise finance to install gallops and other sports surfaces, and spread the cost of capital installations over several years. The service will rapidly be expanded to other categories of capital purchase.
Paul Fisher, CEO of GVS, said: “The launch of GVS’s first operating business, GV Finance, aims to help sport businesses to invest in their future at a time when sport has suffered from the COVID-19 lockdown.
“By working with a world leader in Andrews Bowen we’re expecting significant demand, which will also allow us to expand the range of services and products we can offer. We’ve worked closely together with the finance providers and potential customers to develop the offering and ensure it provides access to the type of innovative financing needed.”
Given the strain placed on UK racecourses during the COVID-19 lockdown, GV Finance has predicted that there will be an uptick in demand for financial support to offer equine facilities.
GV Finance and Andrews Bowen will offer a fully serviced option to increase the lifespan of the gallop or surface and improve the financing options.
Andrews Bowen also offer additional services such as stable construction and maintenance, while GV Finance has committed to assisting their customers to access finance for this expenditure.
David Andrews, Director of Andrews Bowen, concluded: ”Having seen the challenges that equestrian and wider sports businesses are facing with the current crisis, I’m pleased that by working with GVS we’re able to offer finance solutions to allow investment to speed up the return from the lockdown for those businesses.
“Andrews Bowen has proven its ability to innovate with its Equaflow system and GV Finance is the latest example. We’ve known Paul and Simon for many years and their level of innovation and integrity matches our own, so they were the perfect partners to work with us to put GV Finance together.”
