Former Manchester United executive vice-chairman Ed Woodward among investors

Man City Recast Channel Launch (L-R) Gavin Johnson, Media Director at City Football Group, Phil Foden, John Stones, Andy Meikle, Recast CEO, Ilkay Gundogan)

Recast is set to relaunch its micropayments OTT platform after a group of investors brought the company out of administration.

Joint administrators Alistair McAlinden and Chris Pole of Interpath Advisory have secured the sale of the company’s assets to Content Technology Partners Ltd (CTP), which aims to refine, “the offering that has been developed since it was founded in 2018.”

Investors in Content Technology Partners include Gavin Petken, former head of investments at Business Growth Fund and Ed Woodward, former executive vice-chairman of Manchester United.

The new owners have anonunced that the platform could be running again in a “limited capacity” by 11 October, and they are currently speaking to its previous publishers. Sports and clubs such as Extreme E and Manchester City had been among those to set up channels on Recast over the past few years.

Administrators had been appointed last month, with Recast blaming delays and failure to receive required funds from a major investor which had made a funding commitment. At that time, the majority of Recast’s 42 employees were made redundant. The four who were kept on to assist the joint administrators have been transferred to the purchaser as part of the transaction, and Broadcast Sport understands that Content Technology Partners is in discussion with some of the staff who had been made redundant.

Andy Meikle, Recast’s founder, said: “It’s been an extremely challenging period for everyone who has been involved with Recast after the default of funding from our major investor last month. To have received the level of support that we have since then and interest from others to find a solution is testament to what Recast is offering the media landscape.

“Initially we will provide a temporary solution for key events however, in parallel to this we will be taking time to reflect and refine our offering to ensure that we can provide an alternative content monetisation solution in such a fragmented landscape.”