Powerleague secures £22.5m for padel expansion

Powerleague Fives has secured a £22.5m refinancing package from Barclays to support the expansion of its rapidly growing padel business. Some of the funding will also be invested in its football facilities.

Powerleague – the UK’s largest operator of small-sided football venues – said it will use the funding to develop new padel courts, regenerate existing football pitches, enhance off-pitch facilities and “improve the overall player experience” at sites nationwide.

Michael Evans, CFO of Powerleague Fives, said: “We have been working with Barclays – and specifically its hospitality and leisure team – for the past four years. They have been incredibly supportive of the business’s growth plans as Powerleague has transformed from a company emerging from a CVA into a business now facilitating more than 150,000 games every week.

“This investment will enable us to continue expanding access to grassroots sport, encouraging greater participation and supporting not only the physical but also the mental wellbeing of our customers.”