Connexa agrees multi-year global distribution agreement for Padel Tennis
- Connexa agrees multi-year global distribution agreement for Padel Tennis.
- $4 million in revenue guaranteed annually from 2024.
- 25 million players globally today.
- Rapid growth expected in Europe and USA markets.
- Slinger Bag introduces its new Padel Tennis Launcher.
Windsor Mills, MD, Oct. 24, 2023 (GLOBE NEWSWIRE) -- Connexa Sports Technologies Inc. (NASDAQ:CNXA) has agreed a multi-year distribution agreement covering all global markets for Padel Tennis with Desarrollo y Promocion de Padel S.L., a division of Manza Sport based in Valencia, Spain – a company that has over 20 years of experience in the global Padel Tennis market as a leading supplier of Padel Tennis courts. From 2024, this agreement will guarantee a minimum of $4 million to Connexa in annual revenue.
Connexa has developed an innovative Padel Tennis Launcher to meet the specific needs of all Padel Tennis players. The patented design incorporating a ball launcher inside a wheeled trolley bag, weighing 19kg / 42lbs, makes the Slinger Padel Launcher easy to transport to the court and highly versatile, with pockets to carry padel rackets, balls and other gear.
The dual-motor operating system allows the player to control the speed, spin, elevation and frequency of the ball launch. Included with each Slinger Bag Padel Launcher is a unique Lob accessory that helps players of all ages and abilities practice their smash and bandeja shots. A patented Oscillator can also be connected to the Slinger Bag, facilitating side-to-side ball launches. The Slinger Bag Padel Launcher is powered by an interchangeable lithium battery, providing the Padel Tennis Launcher with over 3 hours of play-time and also allowing players to charge their phone!
Padel tennis was invented in Mexico in the 1960's and today has 25 million active participants playing on 40,000 courts in 110 countries globally. Currently, the core volume of players is centered around Spain and South America with rapid growth of the sport being experienced in Scandinavia, Italy, France and Belgium1. In the USA there are currently 240 courts across 40 facilities, which is expected to double to 500 courts within 12 months according to the US Padel Association.
"We are delighted to have agreed a global distribution deal with Desarrollo y Promocion de Padel S.L. They have an incredible knowledge of the global Padel Tennis market and especially the needs of the average Padel Tennis player - all coming from their established Padel Tennis court building business where they have installed Padel Tennis courts across the spectrum of major Padel Tennis clubs, public facilities as well as courts for private individuals, most recently working on the first ever Padel Tennis facility in Brooklyn NYC." said Mike Ballardie CEO, Connexa Sports. "Padel Tennis is expanding its appeal as a fun and social sport across the globe and is regarded as easier to play than Tennis." continued Ballardie.
Slinger Bag has introduced its' highly transportable, versatile and affordable Padel Tennis Launcher to facilitate regular practice and training sessions, enabling Padel Tennis players to hit more Padel balls, more often." added Ballardie
"We are really excited to have the opportunity to build the global Padel Tennis brand for Slinger Bag. What Slinger Bag has achieved in the Tennis market, over a very short time, is incredible and we plan to emulate that in Padel Tennis through our close association to the sport and our relationships with Padel Tennis facilities, players and professional athletes across the world." commented Paco Estevan, President, Desarrollo y Promocion de Padel S.L.
More information on Slinger Bag Padel Tennis Launcher can be found at www.slingerpadel.com
About Connexa Sports Technologies:
Connexa Sports a leading connected sports company delivering products, technologies, and Sport-as-a-Service across a range of sport verticals. Connexa's mission is to reinvent sports through technological innovation driven by an unwavering focus on today's sports consumer.
Contact Information:
[email protected]
www.connexasports.com
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1 https://www.padel.fyi/blog/padel-statistics
