Andy Murray-backed sportswear brand Castore gears up for a $200 million fundraising effort

Andy Murray-backed sportswear company Castore is engaging in discussions with investors regarding a $200 million fundraising round as it ramps up its competition with major international players such as Adidas and Nike.

Andy Murray began his association with the brand in 2019 when he became a shareholder in the company and took on the role of board advisor as part of their long-term alliance. He also developed the AMC brand, which blends the unique brand ideologies of both Andy Murray and Castore, with the aim of establishing a new level of excellence in performance attire for tennis players both on and off the court.

The three-time Grand Slam champion said that he was looking forward to playing a role in uplifting the British brand to greater heights. He was also pleased to be in collaboration with a brand that priotised ethical principles.

“I am looking forward to working with their design team on the tennis line and to be part of a British success story. The company is founded on ethical principles in the way it treats suppliers and staff and that’s something that really resonated with me,” Murray said at the time.

The former World No. 1 was excited to work with a brand that offered something unique in a cluttered market.

"Castore is a young, exciting brand that offers something different, with products that are really well cut and designed," the Brit said, as per Sky.

The brand established by Phil and Tom Beahon is collaborating with bankers on a strategy to secure substantial capital investment. Castore has chosen financial services company Rothschild to assist with the process. Discussions with potential investors have already commenced prior to the official process being held later in the year.

The brand is looking to expand its operations to other sports as well. Following kit sponsorship deals with Premier League teams like Newcastle United and Wolverhampton Wanderers, Castore is beginning its expansion in cricket, golf and Formula 1.

Andy Murray receives wildcard to compete at the Dubai Open

Andy Murray at the 2023 Australian Open

Andy Murray has received a wildcard to play the ATP 500 Dubai Open. The former World No. 1 defeated Fernando Verdasco in the final of the same tournament in 2017 and will be hoping to make a strong showing upon his return.

The Brit reminisced about the fond memories he had of the tournament.

"Coming back to Dubai brings with it a lot of good memories, not least 2017 and the final with Fernando," he said.

Murray said that he was hoping to use the opportunity to continue his steady climb up the rankings.

"My form is improving and my game is getting better, so the Dubai Duty Free Tennis Championships provides another great opportunity for me to continue to climb back up the rankings,” the 35-year-old said.

The Dubai Open is set to begin on February 27 and will feature Novak Djokovic, Andrey Rublev, Daniil Medvedev and Alexander Zverev among others.