Saudi-Backed SRJ Sports Investments in talks for new cycling league
According to Reuters, Saudi Arabia's SRJ Sports Investments is purportedly in exclusive talks to spend roughly €250 million (US$268.8 million) in a new cycling league.
David Rubenstein agrees to buy the Baltimore Orioles for $1.725bn
David M. Rubenstein has agreed to buy a majority stake in Major League Baseball's Baltimore Orioles from the Angelos family for $1.725 billion.
Porsche cleared to take 10% share in VfB Stuttgart of the Bundlesliga
The German DFL has authorised Porsche's acquisition of 10.41% of Bundelsiga side VfB Stuttgart. The deal will see the sports car manufacturer acquire an initial 5.49% of the shares, with a second tranche set to be acquired in June 2024.
Endeavor invests in Chess.com to expand partnerships and audience
Endeavor has invested in Chess.com, with the sports and entertainment group’s WME agency to work on the platform.
Qataris sell minority stake in PSG
Paris Saint-Germain have announced that Arctos Partners and Qatar Sports Investments had reached a historic agreement on a strategic alliance and investment in the French football team.
The investment from Arctos will help PSG expand its business operations and further its strategic real estate goals, which include building the team's stadium and advancing the construction of its world-class training facility in the Poissy neighbourhood of Paris.
Silver Lake looks to take Endeavor private
Endeavour, the company that owns IMG, World Wrestling Entertainment, and the Ultimate Fighting Championship, has revealed that it is evaluating "strategic alternatives" for its publicly traded stock, with shareholder Silver Lake considering taking the firm private.
Goldman Sachs establishes new global sports franchise division
Goldman Sachs has created a worldwide sports franchise division as interest in sports club investment grows.
The new entity combines Goldman's sports mergers and acquisitions (M&As) and sports financing operations, which will pitch clients on investing in teams, stadiums, and leagues alongside the firm's asset and wealth management division. The new division will also concentrate on sports media, entertainment, and technological properties.
Everton agrees sale to American investment company 777 Partners
Everton have announced that Miami-based investment fund 777 Partners has agreed to buy out Farhad Moshiri's entire ownership position in the Premier League team, which represents 94.1% of the shares.
Local businesses are big winners from Birmingham 2022
The Birmingham 2022 Commonwealth Games was worth £870m to the UK economy with 9,000 full time equivalent jobs created, according to a study commissioned by the Government.
Swift conclusion unlikely as Ratcliffe enters Manchester United race
British billionaire tycoon Jim Ratcliffe has become the first individual to confirm publicly an interest in acquiring Premier League giant Manchester United – but rapidity out of the blocks may not necessarily prove advantageous in what is set to be a marathon auction.
Phoenix Suns set for NBA record takeover
Billionaire mortgage financier Mat Ishbia and the Phoenix Suns have reportedly reached an agreement for a $4 billion (£3.29 billion/€3.76 billion) purchase, which would be a record price for an NBA basketball team.
NBA allows pension and sovereign wealth funds to buy team stakes
The NBA in the United States is prepared to allow wealth managers and pension funds to acquire passive equity in its teams, opening up new financial avenues for franchises.
Silver Lake raises its stake in City Football Group to more than 18%
Silver Lake has increased its investment in City Football Group (CFG) to more than 18%, making it the second largest shareholder in Manchester City's ownership group.