Financial News

  • 11 March 2014, 12:58

Goals 'To Cash In' On Beckham Miami MLS Fever

Goals Soccer Centres appears set to cash in on David Beckham's plans for a professional football team team in Miami, after raising £11.4m to accelerate its expansion.

The five-a-side football operator, which netted the funds from a sale of new shares, wants to open two new sites in the UK by 2015 and three in the US.

It currently has only one site stateside, in Los Angeles, and 43 in the UK.

The company announced its plans just a month after former England and LA Galaxy player, David Beckham, confirmed he was exercising an option to create a Major League Soccer (MLS) side in Miami.

Goals outlined its investment while announcing a 2% increase in annual profits to £9.6m.

Revenues for 2013 hit £33.7m - a rise of 4% on 2012.

Keith Rogers, managing director of Goals, said: "Since 2012, Goals has been focused on cash generation and enhancing return on capital from existing sites and has postponed further new centre opening.

"Now with net bank debt reduced to £46.4m, the Board believes that there is a significant opportunity to further develop the business and take advantage of the attractive market opportunity in both the UK†and US."

The five new sites are set to cost £10.6m in total to build.

The company would not confirm whether Miami would be among its new US destinations.

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