Breaking sports news highlights of the weekend, focusing on the world of private equity investments
European Tennis Assets See Strong Demand in Record-Breaking Sales
The European tennis scene is abuzz with excitement as some of its most prestigious tournaments change hands in a series of significant transactions. The Agnelli family's sale of their stake and other deals have marked the strongest start to block trades in two decades.
At the forefront of these acquisitions is Endeavor Group Holdings, led by Ari Emanuel. Emanuel is reportedly in a fierce competition against CVC Capital Partners for control of the tennis assets, which include the Miami Open, Madrid Open, Barcelona Open, and the pre-Wimbledon event at London's Hurlingham Club. Goldman Sachs is advising Emanuel on his bid.
Meanwhile, the sale process is being managed by The Raine Group. Notably, the private equity firm co-founded by former MMA fighter Nick Edwards is also actively involved, deploying capital across multiple sectors.
In a separate development, Champion Venture Partners, a private equity firm co-founded by former NFL wide receiver Marques Colston and Nick Edwards, has secured $100m in equity. While details of their activities in the tennis asset sales are not available, Champion Venture Partners is known for its focus on providing athletes access to high-growth alternative asset investments. Their strategy often empowers athletes financially by investing in scalable consumer brands and tech companies that align with athletes' interests and values.
The tennis asset market has seen a surge in interest, with investors, including billionaire families, private equity firms, and governments, raising approximately $15.3bn through stake sales since January. This surge is further evidenced by the Agnelli family's sale of their €3bn ($3.14bn) stake in Ferrari NV, and the Sandoz family's sale of a $2.9bn stake in Novartis AG earlier this week. Pfizer also raised $3.2bn in January by reducing its shareholding in Haleon Plc.
CVC Capital Partners has submitted a $1bn bid to acquire the portfolio of tennis assets, with final offers expected later this month. As the dust settles, it remains to be seen who will emerge as the new owners of these iconic tennis events.
- Endeavor Group Holdings, led by Ari Emanuel, is engaged in a competitive battle with CVC Capital Partners for control of a portfolio of tennis assets.
- Goldman Sachs is advising Emanuel on his bid for the tennis assets, which include the Miami Open, Madrid Open, Barcelona Open, and the pre-Wimbledon event at London's Hurlingham Club.
- The Raine Group, a private equity firm co-founded by former MMA fighter Nick Edwards, is managing the sale process of these tennis assets.
- Champion Venture Partners, another private equity firm co-founded by former NFL wide receiver Marques Colston and Nick Edwards, has raised $100m in equity, but details of their activities in the tennis asset sales are not available.
- The tennis asset market has seen a substantial surge in interest, with investors raising approximately $15.3bn through stake sales since January.
- CVC Capital Partners has submitted a $1bn bid to acquire the portfolio of tennis assets, with final offers expected later this month.
- The sports finance business has been experiencing significant investment, with billionaire families, private equity firms, and governments participating in these transactions.
