Over 5,500 young lives transformed by Big Issue Invest's £1.25 million investment in world’s first sports-based social outcomes partnership

A world-first method of funding and delivering sports-based youth work has rendered hugely impressive results for its beneficiaries four years on from its launch, social investor Big Issue Invest is proud to reveal.

The social investment arm of the Big Issue provided £1.25 million in upfront funding for the Chances Social Outcomes Partnership back in 2020 – using a pioneering model that sees councils ‘pay on results’ when certain social outcomes are achieved by local delivery partners.

Since being launched by research and technology company Substance in November 2020, Chances has engaged with over 5,500 young people aged 8-17 from deprived backgrounds. 77% achieved at least one positive outcome, such as better school attendance, reduced offending, or gaining qualifications and work experience. Participants also increased their engagement in sports and improved their physical literacy.

The programme was co-commissioned by 21 local authorities and delivered by 17 trusted local organisations, including professional football club charities and youth and community providers. This makes Chances the largest social outcomes partnership in the world when considered by the number of co-commissioners.

The Government is exploring how to build on successes in social outcomes partnerships, such as Chances, through a new ‘social investment vehicle’. This month’s Comprehensive Spending Review pledged to lay out the details of this vehicle by the end of the summer. 

During the Covid-19 pandemic, when many young people’s support systems were disrupted, Chances offered critical interventions. It engaged young people in sports and provided personalised mentoring, helping them access education, employment, training, and volunteering.

One young person who has benefitted from the programme is 20-year-old Riley Butler. He started Chances at Arsenal in the Community when he was aged 16, after leaving school at 14.

Riley Butler said: “My confidence was really shot after school. I shut myself away and went really down in mental health and stuff, I struggled a lot. Being able to come out into the world and reintegrate myself again, it was huge for me.

“At that age – 16 to 17 – you’re transitioning into young adult, trying to move on in your life, you need to find work, you need to provide for yourself… for people who have lost their way, they’re going to find that difficult. It gave me my life back.”

The Chances project delivered by Arsenal in the Community opened up pathways for Riley, leading to his first paid job and studying for a part-time BTEC coaching qualification. He’s now 20 and applying for full-time work.

Big Issue Invest’s Outcomes Investment Fund financed the programme before outcome payments were received using investment from Better Society Capital. The programme also received funding from the Government’s Life Chances Fund (Department of Culture, Media and Sport) and Sport England – the first time Sport England had commissioned outcomes through a Social Outcomes Partnership (Social Impact Bond).

The programme benefited from a unique social investment model: patient capital, flexible repayment terms, and low yield. This support allowed delivery partners to take on negligible financial risk for outcomes they pursued.

Sangita Patel, Head of Programmes at Substance, said: “Chances shows what’s possible when social investors, local authorities, and community organisations unite for a shared vision focused on outcomes. By emphasising early intervention through enjoyable activities, we’ve created sustainable pathways to better life outcomes.”

Mark Lovell, Head of the Outcomes Fund at Big Issue Invest, said: “The programme’s success reflects our goal of creating sustainable social impact while generating financial returns for more community initiatives. It shows how innovative social investment models can address complex challenges and deliver measurable outcomes.”

“The success of the Chances programme offers insights for future social investment initiatives that support vulnerable young people and drive change in communities facing socioeconomic challenges. As the government considers new outcome partnership models, we will share our learning with the Social Impact Advisory Group.”

Jeanette Bain-Burnett, Executive Director for Policy and Integrity for Sport England, said: “Sport England are proud to have invested in Chances, which not only transformed young lives through sport and physical activity, but which also redefined how outcomes can be achieved through collaboration, innovation, and early intervention.

“Tackling Inequalities is at the heart of our strategy Uniting the Movement, as we aim to break down the barriers people can face in accessing physical activity, and Chances is a great example of how sport can be a powerful tool for social change.

Organisations in Health and Social Care, Affordable Housing and Homelessness, and Community and Social Infrastructure are invited to explore financing options of £1 million to £3.5 million through Big Issue Invest’s Social Impact Debt Fund.