Bruin Sports Capital to acquire Two Circles

Bruin Sports Capital has announced a deal with WPP to acquire a majority stake in Two Circles. Terms of the agreement have not yet been disclosed and remain subject to the regulatory approvals of the European Commission.


Bruin’s investment will benefit Two Circles – an award-winning data analytics, technology and sports marketing agency – as the company broadens its offering to clients, continues to invest in its machine-learning-driven tech stack and looks to scale in new markets.


WPP will continue to hold a minority stake in Two Circles – allowing the agency’s clients to continue to have unrivalled access to WPP, its global network and its brand clients.


Two Circles’ sophisticated, proprietary data-management platforms aggregate and analyse massive volumes of consumer data to inform new business development strategies and state-of-the-art marketing programs. Annually, Two Circles processes tens of billions of data points on global sports fans – more than any other sports organisation. Its roster of clients includes the NFL, Premier League, UEFA, Formula 1, and Wimbledon, as well as a global portfolio of leagues, teams, tournaments and federations.



Gareth Balch, Co-Founder and CEO of Two Circles, said:

The sports industry is moving from a B2B model to a direct-to-consumer model where growth will be centred around a direct relationship between sports and fans. Over the last eight years, we believe we have built proven models that can take sports properties on this journey. With Bruin’s backing, experience, and relationships in global sport, we have the perfect platform to enter the next phase of commercial growth – both for our clients and as an agency.


Founded in 2011, Two Circles is a two-time BT Sport Agency of the Year (2014, 2017) and was named by the Sunday Times in 2018 as one of the 100 Best Companies to Work For. The agency has grown to 180 employees in four offices – New York, Los Angeles, London and Bern – who work with clients on four continents, including the top five sports properties by annual global revenue. This year Two Circles played a fundamental role in record attendances for a host of global events (including the ICC Cricket World Cup and Open Championship), record sponsorship rights growth, and subscription and consumption growth for leading D2C media businesses.


George Pyne, Founder and CEO of Bruin, added:

As we look to the future of the sports economy, everything we do will trace back to how we can leverage consumer data intelligence to spur growth. Two Circles has been way ahead of the industry on this and has developed a new breed of agency that serves every business unit of a sports organisation. We are excited to have them formally join Bruin and look forward to working even more closely with their great team.



Two Circles specialties include ticketing, premium, sponsorship, stadium redevelopment and subscriptions. WPP’s continued investment in Two Circles will allow the agency’s clients to continue to have unrivalled access to WPP, its global network and its brand clients.


The news follows Bruin’s recent partnership with CVC Capital Partners and The Jordan Company, whereby the firms committed an initial US$600m to Bruin to build high-performing, next-generation sports and entertainment enterprises.


Two Circles has been affiliated with Bruin since 2017, serving as the marketing arm for OverTier, a venture created by Bruin to operate NFL Game Pass, the league’s premium subscription service.


OverTier initially operated NFL Game Pass throughout Europe, and after two years of record growth, the relationship expanded to 181 countries worldwide.


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