Authentic Brands Group (ABG) has entered into a strategic partnership with David Beckham to co-own and manage his global brand. As part of the deal, David Beckham has become a shareholder in ABG and ABG reportedly took a 55% stake in David Beckham Ventures for $269 million, people familiar with the matter told CNBC.
ABG’s partnership with Beckham will launch as the portfolio management company expands into new territories including EMEA and APAC Beckham will be managed from ABG’s European headquarters when it opens in London. Together, ABG and Beckham will expand the athlete’s brands through strategic endorsements, digital and media partnerships and new products.
Additionally, ABG has become the largest shareholder in Studio 99, an integrated creative and production studio co-founded by Beckham in 2019. The company has a slate of documentary series in development and runs a content generation business for a range of global brands.
“We are thrilled to welcome David Beckham to ABG’s esteemed entertainment division and even further honored to call him an ABG shareholder,” said Jamie Salter, Founder, Chairman and CEO of ABG in a statement. “David is a superstar talent with an incredible global brand reach and a highly influential presence. David and his team have built an enterprise that spans sports, entertainment, lifestyle and luxury, and we see significant opportunities to scale his brand and expand it into new verticals.”
“ABG takes an innovative approach to global brand development, and I’m delighted to be joining them,” said Beckham in a statement. “Our shared vision makes ABG the ideal strategic partner to help unlock the full potential of my brand and business.”
Beckham has more than 138 million followers across his social media accounts, and his addition to the ABG team brings the company’s total portfolio-wide social media following to more than 420 million. Beckham’s annual impressions surpass 9 billion across Instagram, Facebook and Chinese platforms Weibo and Douyin. He also is the most followed and engaged individual on social media in the UK.