Owners Box: Club Member Newsletter - May 17th
Magic Johnson joins Harris' Broncos bid, Arctos closes into Atalanta, RedBird eyeing AC Milan, Chelsea confirm Boehly takeover, LIV Golf announces $2B investment
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Recent Sports M&A News and Developments
LIV Golf Announces $2B Investment, Expanded Schedule for 2023-2025 - Front Office Sports - May 10th, 2022
LIV Golf is only getting started in disrupting professional golf.
The invitational series, which has worked to lure top PGA Tour golfers, announced a $2 billion investment from Saudi Arabia’s Public Investment Fund that “will be used to fund ongoing expansion and prize purses for the new LIV Golf schedule,” the company wrote, announcing the move.
The series will offer $255 million in prize purses across 10 tournaments in 2022, which will combine individual and team formats.
LIV also announced an expanded schedule, with 10 tournaments next year and 14 in both 2024 and 2025.
RedBird Capital Flocks to AC Milan Bid - Sports Pro Media - May 9th, 2022
RedBird Capital Partners is reportedly in talks with AC Milan following the expiration of Investcorp’s exclusive negotiation period at the end of April.
Investcorp, the Middle East’s biggest alternative asset manager with around $41 billion in assets under management, was in exclusive talks with current owner Elliott Management to purchase the team for $1.26 billion including debt, but the pair have yet to agree on a deal.
They are reportedly still in negotiations.
Should RedBird Capital come to an agreement with AC Milan, the investment group will further strengthen its sports portfolio.
Chelsea confirm UK£4.25bn Todd Boehly takeover - Sports Pro Media - May 9th, 2022
The sale of Chelsea could be completed before the end of the season after the English soccer giants confirmed the agreement of a £4.25 billion (US$5.22 billion) takeover with a consortium lef by Los Angeles Dodgers co-owner Todd Boehly.
Chelsea must complete the sale by 31st May when the Blues’ temporary UK government licence expires, but Boehly’s group is understood to be primed to wrap up the purchase within that time frame.
Arctos Sports Buys $36 Million Stake in Italian Soccer Club Atalanta - yahoo!sports - May 9th, 2022
Arctos inked a deal to pay €34 million for an initial equity investment into the club, according to a person familiar with the deal who asked not to be named because the matter is private. Boston Celtics’ managing owner Steve Pagliuca helped make the connection with Arctos to buy into the club, said the person. Pagliuca, who also leads private equity firm Bain Capital, led a group that bought about 47% of Atalanta earlier this year from Italy’s Percassi family. Executives at Arctos declined to comment.
Kevin Durant becomes minority owner of National Women's Soccer League club NJ/NY Gotham FC - SportsKeeda - May 5th, 2022
Two-time NBA champion Kevin Durant’s Thirty Five Ventures is an investment company he started in partnership with Rich Kleiman. They announced the completion of a minority stake investment in a National Women’s Soccer League club.
NJ/NY Gotham FC was founded in 2006 and the club has now played nine seasons in the NWSL. The team finished the 2021 NWSL Challenge Cup Championship as a runner-up after losing to Portland Thorns FC in a penalty shoot-out.
Magic Johnson joins bid to buy Broncos with 76ers owner Josh Harris: Source - The Athletic - May 5th, 2022
NBA legend Magic Johnson has joined a group bidding to buy the Denver Broncos, a source confirmed to The Athletic. The news was first reported by Sportico on Thursday morning. Johnson is joining the group led by Josh Harris, who owns the Philadelphia 76ers and the New Jersey Devils.
Sportico reports up to six others would join Johnson and Harris as potential stakeholders. This would be another venture by Johnson into team ownership, as he’s part of the group that owns the Los Angeles Dodgers.
NFL legend Larry Fitzgerald, NBA star Chris Paul invest in IPL franchise Rajasthan Royals - The Indian Express - May 1st, 2022
American football legend Larry Fitzgerald, double Olympic gold medallist basketball star Chris Paul are among the new investors in IPL franchise Rajasthan Royals.
The duo, along with another NFL star Kelvin Beachum, are now minority investors in the IPL franchise which is owned by Emerging Media Ventures, an entity that is fully controlled by Manoj Badale.
“Rajasthan Royals have attracted investment from US elite athletes Chris Paul, Larry Fitzgerald and Kelvin Beachum. The trio have come on board as investors in the Rajasthan-based franchise. Investing through Emerging Media Ventures, the vehicle 100% controlled by Manoj Badale, Paul, Fitzgerald and Beachum will become minority investors in the franchise,” Royals announced in a press release.
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