Two Circles Completes USD$45 million (AUD$61.5 million) Acquisition Of TRM Partners Sponsorship Agency
wo circles has acquired sponsorship sales agency, TRM Partners, in a deal that will see the sports marketing firm build out its business through the creation of a new rights management vertical.
According to Wall Street Journal (WSJ), the deal is worth USD$45 million (AUD$61.5 million).
Two Circles will expand on TRM’s core commercial sales offering with the addition of data-driven, digitally-led sponsorship rights propositions that will aim to drive significant incremental revenue for sports rights owners globally.
Founders of TRM, Harry Horsley and Leo Thompson, will serve as co-presidents of the Two Circles rights management vertical.
Since the pair founded the company, TRM has been responsible for sports sponsorship deals including Japanese tyre brand, Yokohama’s record five-year partnership with English top-flight soccer club, Chelsea, as well as Visa and Pepsi’s women’s soccer partnerships with European governing body, UEFA.
TRM has been responsible for USD$700 million (AUD$957 million) in deals for sports right owners to date, where they secured six deals, including Vodafone’s three-year title sponsorship with Cricket Australia.
The firm also helped renew long-term agreements for the Mercedes-Benz EQ Formula E team and Italian soccer giants, AC Milan.
Two Circles chief executive, Gareth Balch, said: “TRM has created a pioneering rights sales capability, successfully marketing the unique emotion of sport to drive commercial results for rights owners and record impact for brand.”
“By adding in data-driven, digitally-led rights propositions, we will take sponsorship into a new era.
“We’ve known for years that sports sponsorship is on the cusp of being rewired.
“Now we will rewire it,” he said.
In addition, Two Circles has acquired a majority stake in RugbyX, the five-a-side format of rugby union founded by TRM.
Debuting in 2019, and approved by the sport’s international governing body World Rugby, RugbyX features men’s and women’s international players, who receive equal pay.
Two Circles currently works with more than 300 sports rights owners, including the National Football League (NFL), the Premier League, Formula One, and the Wimbledon tennis Grand Slam.
It provides data analytics around sports fan behaviour to drive commercial growth and capitalise on the shift in media consumption to digital channels.