Hey guys,
Who are the biggest players when it comes to Sports coverage - I'm not only talking about sports properties like US sports franchises but also sports tech, OTT solutions, sports agencies, etc.?
I'm assuming some of the big banks have their own sports advisory people that would sit within the broader Media/Entertainment team. Also, there must be some specialized mid-market players with sports capabilities?
Any help would be much appreciated!
Thanks
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Rothschild is definitely strong in the UK/EU. They advised Premiership Rugby on its investment from CVC and worked on arranging the financing for the Tottenham Hotspur stadium.
Interested if you know who the other players are in the UK/EU sports market? Seems like deals are very sporadic and not an active sector but would be a cool niche
Raine has done some marquee deals over the years (UFC, Man City, Clippers). Handful of other smaller deals in media & entertainment. I think they recently helped Endeavor China purchase a Chinese sports agency. Don't know the details but they seem to get pretty unique exposure.
PJT has a guy only doing that that was at MS from what I know. In Europe Rothschild/Raine/GS seem to dominate (Rothschild/GS have better coverage of “inactive” clients - ones doing very one-off deals vs other banks that are focused on larger fee payers) and JPM is ok at sports related financings there is also a boutique called Tifosy that only does sports deals that seems quite good at what they do.
Galatioto Sports Partners does a lot at the franchise level
Moelis LA
Don Cornwell at PJT
“recapitalization of the Tennessee Titans, the sale of Maple Leaf Sports & Entertainment, the sale of the Buffalo Bills, the sale of IMG to William Morris Endeavor, the sale of Access/DAZN owned Perform Group to Vista owned STATS Inc., the recapitalization of the Pittsburgh Steelers and the formation of Major League Baseball Advanced Media. In addition, he has served as a strategic advisor to the National Football League and the National Basketball Association on numerous occasions.”
The three well known players in the US are generally Raine, Allen and Company and PJT. Those three are the most well known with a few others sprinkled here and there.
As one of the posters above mentioned, JPM handles a lot of financings for the sports leagues, but not clear if they’ve done a ton of sports M&A. GS also has a sports team focused on financing in their AFG group, but that is also primarily split between public financings as well.
There are a few other well known banks that come to mind, i.e. Guggenheim TMT recently did minority stake sale of the Spurs and Cubs, but I’m sure there are others given the ramp in minority investments from PE funds.
J.P. Morgan’s private bank has a huge sports financing group, not necessarily pure advisory though.
I believe BofA has a pretty ok sports advisory group in CLT.
Arctos Sports Partners is a Dallas-based PE firm, but not IB coverage.
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