GFH Financial Group has announced the launch of XLR8, a new umbrella identity under which the company will consolidate and grow its sponsorships
Bahrain-based GFH Financial Group (GFH) has announced the launch of XLR8, a new umbrella identity under which the company will consolidate and grow its sponsorships of sporting initiatives and events in the kingdom.
XLR8 has also been created to help position GFH’s investment projects as destinations for sports tourism that will bring regional and international athletes and sports enthusiasts to Bahrain, the company said in a statement.
It added that the initiative will see cooperation with partners and the creation of new sporting concepts and events in Bahrain.
GFH said each year it supports important national sporting events such as the King’s Cup Endurance Race, the Bahrain Formula 1 Grand Prix and the Bahrain National Sports Day.
To kick off the launch of XLR8, the new entity’s first event will soon be announced for later in the year and will be aimed to encourage individuals of all ages to embrace sports and lead healthier lifestyles, the statement added.
Aymen Tawfiq Al Moayyed, Bahrain's Minister of Youth and Sports Affairs, said: “We applaud such initiatives from the private sector that align with the kingdom’s efforts to further elevate the role and contributions of sport to the social and economic development of Bahrain and our citizens.
"We are keen to allocate funds for sports, and we look forward to seeing others in the private sector follow GFH’s approach, which we welcome and encourage their initiative.”
Hisham Alrayes, CEO of GFH, added: “Bahrain is already home to numerous dynamic events across the sporting spectrum, many of which have long been supported by GFH. Under the umbrella of XLR8, we are redoubling our efforts and will further step up our investments both through sponsorships and also through the creation of unique new events that promote an enhanced lifestyle and healthy competition benefiting the local population and also drawing visitors and investment into the kingdom and its economy.”