FIP Grants Hexagon License for Hexagon World Series with Investment by 54

Cuatrecasas has advised the International Padel Federation (known by its Spanish acronym "FIP”) on the structuring and granting of a new license for Hexagon to exploit the economic rights of team padel, as part of the launch of the Hexagon World Series, a new global team padel circuit that will be fully governed by the FIP. The transaction incorporates 54, the sports and entertainment agency owned by Saudi Arabia’s Public Investment Fund (PIF), as an investor and strategic partner for the development of the circuit, thus consolidating the professional padel ecosystem through this transaction.

The Hexagon World Series was created as an evolution of the Hexagon Cup and will be legally integrated into the professional circuits governed by the FIP, along with Premier Padel and the Cupra FIP Tour. It forms a modern, competitive framework, coordinated and aligned with the growth plan and federative governance of the sport and the search for recognition by the International Olympic Committee as an Olympic sport.

With this transaction, the FIP furthers the modernization process of padel that began in 2022 with the license granted to Premier Padel to manage the economic rights of the main individual padel tour. The new license granted to Hexagon for the team circuit completes the construction of an integrated ecosystem that (i) optimizes resources and preserves sporting integrity; and (ii) consolidates the FIP as the sole governing body of padel, guaranteeing unified and stable governance geared toward long-term sustainability and its Olympic road map.

The transaction also underscores the commitment of top-tier international operators and investors, including PIF and Qatar Sports Investments, to a sporting model organized and guaranteed by the international federation, as opposed to private or purely entertainment-based schemes not backed by federation structures.