Cristiano Ronaldo fronts new Sports Stars Media project

Football celebrity Cristiano Ronaldo has kicked off the New Year as an ambassador for Sports Stars Media.

The AIM-quoted sports personality media business announced Wednesday it had signed an agreement with the star to promote a new project - a worldwide crowd-sourced football league for adult amateur players.

Ronaldo will front the campaign based on a new social media network. The concept will be launched in October and will focus on the notion of 'fair play'.

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Chief Executive Officer of Sports Stars Media, Ruben Dias, said: "I am delighted that Cristiano Ronaldo has endorsed our crowd-sourced football championship for amateur players. This unique, worldwide competition, which will harness the power of football and social media, will commence during 2013 and allow adults to participate in football at a grassroots level for prizes."

The company raised an additional £711,375 at 1p per new ordinary share to fund the project.

Sports Stars Media expects to receive revenue from global product sponsorship, monthly subscriptions from participating players, licensing and franchising, social network portal and app advertising, sponsorship of events and teams, and online gamification.

Shares were up 9.30% to 1.18p at 10:20 Wednesday.

RD