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.

Goldman will pitch clients on possible club acquisitions in some situations, according to the Wall Street Journal (WSJ), which broke the news first. Goldman previously worked on the sale of Formula One and English soccer powerhouse Chelsea.

Greg Carey and Dave Dase of Goldman Sachs will co-head the new Sports Franchise in Investment Banking division and will take on additional duties. As funding from investors continues to pour into the sports industry, the two will spearhead the bank's efforts to develop solutions for clients worldwide in sports, media, technology, and entertainment.

Stacy Sonnenberg, Elis Jones, and Mike Kenworthy will continue to lead sports business sectors inside the new Sports Franchise in Investment Banking division. Jones will manage EMEA business, Sonnenberg will continue to oversee financing, and Kenworthy will handle Americas business.

With Josh Harris, a private equity tycoon, leading a consortium that earlier this year paid a record US$6.05 billion for the National Football League's (NFL) Washington Commanders, sports clubs are becoming an increasingly desirable target for investors worldwide.





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