Sep 16, 2023
Goldman Sachs will soon offer their clients the ability to buy into pro teams, the latest development in a growing industry push to find new ways to keep up with rising franchise values.
A newly created division of the financial services giant called Sports Franchise in Investment Banking, co-led by Goldman Sachs executives Greg Carey and Dave Dase, will provide extremely wealthy clients with the opportunity to invest not only in teams but also other entities in sports and entertainment. The effort also combines Goldman Sachs’ prior activities in sports mergers and acquisitions and in sports financing.
The division will focus on the “global sports ecosystem across all major sports, including federations, leagues, franchises, and clubs, as well as sports media, entertainment, and tech businesses,” according to an internal memo seen by the U.K.’s Financial News.
Source: Front Office Sports