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Sporting chance for Catalyst EIS

Specialist investment firm Catalyst Investment is teaming up with a sports promoter to create an enterprise investment scheme sports fund which aims to invest in the stars of tomorrow.

The fund, which will open in November, aims to raise £600,000 and will raise further funds each year. The money will provide four or five individuals with a fixed income over three years while they establish themselves in their sport. Investors will get a percentage of the individuals&#39 future earnings and perks such as passes and ringside seats.

Catalyst is not yet making the promoter&#39s name public but says his contacts are mainly in boxing and golf.

Minimum investment in the scheme is £15,000.

Catalyst director of corporate finance Rennick Haddow says: “One of the things that initiated the sports fund was the success of Formula One driver Justin Wilson&#39s EIS.

“But rather than investing in one individual, we wanted to invest in a range of people to get a higher hit rate.”

IFA Allenbridge managing director David Knight says: “I suppose you would only need one of them to hit the big time and then you would get the sponsorship money in.

“I would say have a go if you are a wealthy sports fan with money to burn but if all you want is the tax benefits, then go for something that is more secure and asset-backed.”

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