Owners Club Newsletter - June 2nd
Cuban launches new sports fund, WNBA's Liberty sell stake at record valuation, MLB's Twins progress towards sale, 49ers consortium completes Rangers takeover
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News & Highlights:
Mark Cuban launches $750 million sports-focused private equity fund
WNBA’s New York Liberty sell stake at record ‘US$450m’ valuation
Italy SailGP team acquired by Grazioli-Venier’s Muse Sport consortium
SURJ Sports Investment and Kings League partner to launch Kings League MENA
'We want Rangers back at the top' - US consortium completes takeover
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Recent Sports M&A News and Developments
Mark Cuban launches $750 million sports-focused private equity fund -CNBC Sports - May 16th
Mark Cuban is launching a new $750 million private equity fund focused on sports franchises, called Harbinger Sports Partners.
As sports valuations soar and teams look for new capital, the professional leagues have increasingly opened the door to private equity investment. In August, National Football League owners became the last major sports league to approve private equity investment, allowing up to a 10% stake by select firms.
WNBA’s New York Liberty sell stake at record ‘US$450m’ valuation - Sports Pro - May 23rd
The Women’s National Basketball Association’s (WNBA) New York Liberty have been valued at US$450 million after a 20 per cent stake in the team was sold to unidentified investors according to The Athletic.
Italy SailGP team acquired by Grazioli-Venier’s Muse Sport consortium - The Athletic - May 27th
A consortium partially led by Muse Capital founding partner Assia Grazioli-Venier has acquired the Italy SailGP team.
Known for backing consumer technology companies, women’s health and women’s sports, Grazioli-Venier is setting sail with a team valued at $45 million through her sports advisory arm, Muse Sport.
Twins sale has momentum toward $1.7B asking price - Reuters - May 29th
Minnesota Twins ownership is making progress toward a sale of the major league team, with several prospective buyers touring Target Field and meeting with the Pohlad family, according to multiple media reports.
MLB invests ‘eight figures’ in women’s softball league AUSL - SportsPro - May 30th
Major League Baseball (MLB) has announced a strategic investment in the Athletes Unlimited Softball League (AUSL).
This marks MLB’s first partnership with a women’s professional softball league. While no financial details were disclosed publicly, Sportico reports that the investment is worth ‘eight figures’, which is the largest financial commitment made by the league towards softball.
'We want Rangers back at the top' - US consortium completes takeover - BBC - May 30th
A US-based consortium, including the investment arm of the San Francisco 49ers, has completed a multi-million pound takeover of Rangers.
The group, led by private healthcare tycoon Andrew Cavenagh, has bought 51% of the Ibrox club following months of negotiations.
The club says £20m of new investment will be made available in the summer following a share issue.
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