IB Analyst to Sports Related Exit Opp?
Are there any potential exit opps from an IB analyst to a role in the sports world? Always been fascinated by the management/ business side of the sports industry. Is this possible, and are there any recent precedents of this happening? Would appreciate any info on this subject.
BAML (now BofA Securities?) has a big time sports investment banking practice. See the pitch book below for their advisory work on the $2B sale of the LA Clippers to Steve Ballmer. Obviously there's more work than just selling the occasional sports franchise every 5 years, including broadcast rights (TV & radio) for pro sports leagues, conferences (SEC, B1G), tournaments (March Madness), and possibly stadium finance as well, although that could housed in muni finance. Like every group there is both sell-side and buy-side advisory work. Since there's a lot of overlap sports IB could sit in the Media vertical, but like anything it would depend on the bank.
https://www.bloomberg.com/opinion/articles/2014-07-24/bank-of-america-k…
My understanding is since it's a niche it can be tough to get into sports IB without some experience first and then lateraling in after a year or two. As far as moving into the sports business world post banking, sports IB would help you build the network to make that happen better than any other group.