Weekend Sports Roundup: Headlining News in the Realm of Sports and Private Equity Investments
In the world of sports and finance, several notable developments are unfolding. Here's a roundup of the latest news:
Chicago White Sox Ownership Change
Billionaire Justin Ishbia, founder of Shore Capital Partners, has agreed to acquire a controlling stake in the Chicago White Sox, valued at approximately $1.8bn. Controlling ownership could be transferred as early as 2029, but Ishbia has the right to acquire Jerry Reinsdorf's majority stake if no sale is finalised by the end of the 2034 season [1].
Powerleague's Growth and Expansion
Powerleague, the UK's largest five-a-side football operator, has announced plans for growth and diversification. The company, which manages over 250 third-party venues offering football and netball, recently announced plans to add padel tennis to nearly half of its sites. Broadsword Investment Management has acquired a majority stake in Powerleague, and the company will retain its existing management team post-transaction [2].
Investment in College Sports
The Collegiate Investment Initiative, a new fund targeting commercial and infrastructure investments across US college sports, has been launched by Velocity Capital Management, Elevate, and the Texas Permanent School Fund Corporation. The fund, worth $500m, aims to provide long-term capital and strategic support to universities navigating the transition to a student-athlete revenue-sharing model. This initiative follows a recent $2.8bn settlement clearing the way for annual athlete compensation of up to $20.5m per school [3].
Potential Deals and Bids
Ishbia has also been injecting capital into Powerleague this year and next to help reduce debt and support operations. Partners Group has agreed to a potential deal, but the details are not specified. Meanwhile, EQT, a Swedish private equity firm, is reportedly evaluating an offer for WRC Promoter, the commercial rights holder of the World Rally Championship (WRC). However, no information has been found regarding EQT preparing a bid or who has acquired a majority stake in Powerleague [4][5].
References
- Chicago White Sox sale to Justin Ishbia could happen as early as 2029
- Broadsword Investment Management acquires majority stake in Powerleague
- Collegiate Investment Initiative Launches $500 Million Fund Targeting Commercial and Infrastructure Investments Across US College Sports
- EQT reportedly preparing bid to acquire WRC Promoter
- No information found regarding Powerleague majority stake acquisition
- Justin Ishbia, founder of Shore Capital Partners, is pending to acquire a controlling stake in the Chicago White Sox, a notable deal worth approximately $1.8bn.
- The Chicago White Sox ownership might be transferred as early as 2029, but Ishbia has the option to acquire Jerry Reinsdorf's majority stake if no sale is finalized by the end of the 2034 season.
- Powerleague, the UK's largest five-a-side football operator, announced plans for growth and diversification, with plans to add padel tennis to nearly half of its sites.
- Broadsword Investment Management has acquired a majority stake in Powerleague, and the company will retain its existing management team post-transaction.
- Billionaire Justin Ishbia has been investing capital into Powerleague this year and next to help reduce debt and support operations.
- Partners Group has agreed to a potential deal with Powerleague, although details are not specified.
- EQT, a Swedish private equity firm, is reportedly evaluating an offer for WRC Promoter, the commercial rights holder of the World Rally Championship (WRC).
- The Collegiate Investment Initiative, a new fund targeting commercial and infrastructure investments across US college sports, has been launched by Velocity Capital Management, Elevate, and the Texas Permanent School Fund Corporation, aiming to provide long-term capital and strategic support to universities navigating the transition to a student-athlete revenue-sharing model.
