Double Olympic champion swimmer Matt Richards has officially launched his innovative sports technology venture, Sponza, aiming to transform how athletes secure commercial backing and financial support.
A New Platform for Athlete-Brand Connections
The newly established sports-tech platform, Sponza, represents a significant development in the athletic sponsorship landscape. Designed specifically to address the persistent funding shortfalls faced by Olympians and professional sportspeople, the service facilitates direct connections between athletes and potential brand partners.
Richards revealed to City AM that the platform has successfully secured a six-figure investment sum, achieving a valuation in the seven-figure range ahead of its official public launch this week.
Addressing the Athlete Funding Gap
This initiative emerges against a backdrop where athletes increasingly seek alternative revenue streams. Recent examples include the creation of fan engagement platforms like Fayder and high-profile athletes such as canoeist Kurts Adams Rozentals turning to platforms like OnlyFans to generate income.
"The investment we've secured so far has come exclusively through a close network of individuals who have either personally experienced these funding challenges or operate within the sports industry," Richards explained. "Our investor group collectively holds 12 Olympic medals alongside numerous business accolades. It's currently a tightly-knit circle of supporters."
Richards' Vision for Sponza
The 23-year-old swimming champion, who secured consecutive gold medals in the 4x200m freestyle relay at both the Tokyo and Paris Olympic Games, reports impressive early traction for the platform. Already, approximately 5,000 athletes representing fifty different sports have registered with Sponza.
For athletes, the platform offers a free basic tier. "Athletes can download the application completely free of charge, create their profile, and begin applying for commercial opportunities," Richards detailed. "The free version has some limitations, allowing just one application per month. Alternatively, athletes can opt for a premium subscription at £10 monthly, which grants unlimited access to all opportunities and additional platform features."
The Brand Partnership Model
For commercial brands, Sponza operates on a different financial model. Brands pay an annual access fee to use the platform, plus a small commission fee that is applied to their side of any campaign transaction.
"This commission structure is designed so the financial burden doesn't fall on the athletes," Richards emphasised. "The commission is paid on top of the agreed campaign value by the brand, meaning athletes receive their full agreed compensation without any further deductions."
The platform positions itself as a comprehensive solution that helps brands "discover and activate athletes more efficiently," providing direct access to relevant sporting talent alongside tools designed to scale partnerships without increasing operational complexity or overhead costs.
Strategic Launch and Future Ambitions
Initially, Sponza will launch exclusively within the United Kingdom. Richards stated this focused approach allows the team to ensure all systems function correctly before pursuing international expansion.
"Expanding into the United States represents a key target for our growth strategy," he confirmed. "Our ultimate ambition is to establish Sponza as the global destination for athletes and brands seeking to collaborate effectively across the worldwide sports landscape."
