Seasoned executives from the worlds of sports, media, and marketing announced today a joint venture focused on the power of Latinos in the global sports industry. The multitiered platform will focus on content, careers, and convenings, and officially launch during Miami’s Formula 1 weekend at a star-studded event presented by Amerant Bank and in partnership with CNBC.
Through his company ImpactX Sports Group, Xavier A. Gutierrez—president and CEO of the Arizona Coyotes NHL club and the only Latino currently leading a major American sports team—created the venture with Pedro A. Guerrero—CEO of Guerrero and publisher of Hispanic Executive, the leading English language media brand highlighting Hispanic business leadership. For more information, visit www.LatinosInSports.com.
“Sports are critically important to culture, commerce, and community; and by any measure Latinos are driving the future growth of this industry,” said Gutierrez, Founder of ImpactX Sports Group. “There is a dearth of impactful events, content, and research shining a spotlight on these trendlines, and Pedro is the perfect partner to join me in filling that void.”
Hispanic sports marketplace
The Hispanic sports marketplace totals $21 billion, and over-indexes the general market across several core metrics:
- 40 percent of Latinos consider themselves “avid sports fans” as compared with 29 percent of Anglos (Statista 2023)
- 92 percent of Latinos view sports as important to their lives (Boston Consulting Group – L’ATTITUDE 2022)
- Latinos are twice as likely to attend a sporting event at least once per week (Nielsen Fan Tender)
- Latinos are five times more likely to share sports content on social media (Boston Consulting Group – L’ATTITUDE 2022)
- Latinos are 33 percent more likely to make purchases based on in-game commercials (Statista – 2019)
- Women, especially Latinas, represent 40 percent of sports fandom (Female Sport Fandom, Dr. Bri Newlandand Dr. Ted Hayduk – 2020)
- Latino youth fandom expected to increase 22 percent in next decade (Boston Consulting Group – L’ATTITUDE 2022
The first event
The group’s first invite-only event will take place on Friday, May 3, at Miami’s Perez Art Museum from 6:00 p.m. to 8:30 p.m., and feature a room filled with sports luminaries from leagues, teams, and brands. CNBC will serve as the official mainstream media partner and cover the proceedings. Confirmed speakers to date include Jose E. Feliciano, co-owner of Chelsea FC; Monica Gil, board member of Nike Inc., Luis Silberwasser, Chairman of Sports for Warner Bros. Discovery; and Alex Sherman, national correspondent for CNBC.
Following the event, the group will roll out a digital content platform, proprietary research studies, thought leadership initiatives, and career resources for current and aspiring Latino executives in the sports industry.
“The Latino community is the driving engine of the American economy, and sports is a thriving industry where Latinos are leading both on the field and in the executive ranks,” said Guerrero, publisher of Hispanic Executive. “Xavier has a history of using his position to elevate others, and we are excited to partner on this platform that promotes a shared mission to elevate the incredible work already being done, and inspire future generations of Latinos.”
