Owners Club Newsletter - June 16th
Wrexham mulling raising additional funds, Elevate launches college fund, Ishbia lays path to control of White Sox, and IPL sale could fetch record valuation
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News & Highlights:
Shore Capital’s Justin Ishbia agrees $1.8bn path to control of MLB’s Chicago White Sox
Royal Challengers Bengaluru could be sold as Diageo seeks ‘US$2bn’ valuation
Sports agency Elevate launches $500 million college investment as payment landscape evolves
Red Bull agree deal to buy Newcastle Falcons and keep Premiership club afloat
Hollywood stars Ryan Reynolds and Hugh Jackman buy Australian SailGP team
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Recent Sports M&A News and Developments
Shore Capital’s Justin Ishbia agrees $1.8bn path to control of MLB’s Chicago White Sox - Private Equity Insights - June 14th
Under the agreement, Ishbia has already bought out a number of minority investors and will begin injecting capital into the team this year and next to help reduce debt and support operations. Although controlling ownership could be transferred as early as 2029, Ishbia will have the right to acquire Jerry Reinsdorf’s majority stake if no sale is finalised by the end of the 2034 season.
Royal Challengers Bengaluru could be sold as Diageo seeks ‘US$2bn’ valuation - Sports Pro- June 10th
Alcoholic beverage giant Diageo is reportedly considering options for its ownership of Indian Premier League (IPL) champions Royal Challengers Bengaluru.
According to Bloomberg, British-based Diageo, which owns RCB through its Indian subsidiary United Spirits, has been holding discussions with potential advisers and could either sell part or all of the team.
Sports agency Elevate launches $500 million college investment as payment landscape evolves -CNBC Sport - June 9th
As the college athletics landscape undergoes seismic changes, Elevate on Monday announced a $500 million fund to help universities create long-term growth through strategic investments.
Red Bull agree deal to buy Newcastle Falcons and keep Premiership club afloat- The Guardian - June 6th
Red Bull has agreed a deal to buy Newcastle Falcons which includes a commitment to keep the club in the city and will ensure the Premiership remains a 10-team competition next season.
Newcastle have been for sale for over a year, with owner Semore Kurdi no longer willing to fund multimillion-pound annual losses, leading to fears they could become the fourth Premiership club to go bust in the last two years after Wasps, Worcester and London Irish.
Hollywood stars Ryan Reynolds and Hugh Jackman buy Australian SailGP team -The Guardian - June 5th
Sailing has been given a sprinkling of Hollywood stardust with the announcement that A-list duo Ryan Reynolds and Hugh Jackman have taken over the Australian SailGP team.
Reynolds is no stranger to sports ownership, having invested in Welsh football club Wrexham along with fellow actor Rob McElhenney in 2022, helping the team to three successive promotions.
Wrexham AFC Weighs Raising Funds at $475 Million Valuation-Bloomberg -June 5th
Wrexham AFC, the Welsh football club owned by Hollywood stars Ryan Reynolds and Rob McElhenney, is considering selling a stake for a valuation of up to £350 million ($475 million), people familiar with the matter said.
The club is working with investment bank advisers to canvas demand from potential investors, according to the people, who asked not to be identified discussing confidential information.
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