Zahredin Treki’s Post

Dave Portnoy sold his company for $551M and bought it back for just $1... Barstool Sports started as a print magazine and became a digital sports empire with 250M monthly views. It’s 2020. Sports gambling is newly legal. A casino company, Penn Entertainment, was building an app and wanted customers. And they were willing to pay... $551 million. Barstool Sportsbook was born. Everyone wins. But there’s a problem. Regulators didn’t love Barstool’s edgy style or promotions like the “Can’t Lose Parlay.” With regulators tightening the leash and Barstool's edginess not aligning with Penn’s corporate culture, the partnership wasn’t working. Penn was stuck – so Portnoy made his move and convinced them to cut their losses and sell Barstool back to him for just ONE dollar. But there was a catch. Portnoy agreed to a non-compete, meaning no sports gambling for his company. And if he ever sells Barstool again? Penn gets 50% of the profit. Dave Portnoy walks away with his company and the cash – all for just $1 #barstoolsports #acquisitions #businessstories

📢 Rogers Communications to Acquire 75% Controlling Stake in Maple Leaf Sports & Entertainment (MLSE), Dominating Canada’s Pro Sports Market 🌏 Following the acquisition’s closure, Rogers will hold the largest ownership share in MLSE, solidifying its influence across major North American sports leagues. MLSE's assets include prominent franchises like the NHL’s Toronto Maple Leafs, NBA’s Toronto Raptors, and Major League Soccer’s Toronto FC. This move enhances Rogers’ entertainment portfolio, tapping into the high-revenue sports market and extending its brand reach. 📅 Expected to finalize by early 2025, the deal is projected to generate substantial synergies and solidify Rogers' leadership in the entertainment and telecommunications sectors. 📝 Share your thoughts in the comments below and click the link below to read the full report! By Holly Griffin, Ishaanika Gulzar, Kai Lim, Katerina Georgiou, Tomiwa Oshai (King’s College London); Abraham Vongkhamdy, Leo Fridjhon, Zin Nas, Janira Martinez, Amya Hillis, Irene Souny Bihr, Duc Le, and Christian L. (Columbia University) #MergerSight #ProSports #Entertainment #Telecommunications

We announced strong financial results for the first half of 2024: 📈 Our revenues were up 8.6% to more than 2 billion Euros and Adjusted EBITDA was up 12% to €368m. This was driven by an outstanding performance in online sports #betting, reflecting the success of our strategy focused on user experience, as well as a busy sports calendar. 🏆In content production & distribution, we are seeing a solid demand from streamers. We expect to deliver a strong pipeline of scripted shows in H2 2024. 🎮We remained at the forefront of major #liveevents and continued to consolidate the market with The Independents’ recent acquisitions of specialist agencies Kennedy and Sunshine. 🚀 We're on track to meet our 2024 guidance, reflecting continued profitable growth for each business segment. Read more here 👉  https://lnkd.in/e9CCZQBb

For the National Football League (NFL), there’s an exciting new player in the mix this season. On Aug 27, NFL owners voted in favor of allowing private equity firms to snap up minority stakes in their teams – belatedly following the likes of Major League Baseball (MLB) and the National Basketball Association (NBA). NFL teams and franchises are set to benefit from the influx of capital, currently capped at $12bn spread across selected firms and consortiums, including Arctos Partners – the most active sponsor in the sports space of late, having made four investments in 2022 alone. Private equity has already shown strong enthusiasm for US sports investing. According to Mergermarket data, the past 5 years have seen 26 sponsor-led deals completed at a total value of more than $6.5 billion, the largest being RedBird Capital Partners’ $750 million acquisition of Fenway Sports Management (FSM) in 2021. Investor interest is in part driven by incredibly lucrative media broadcasting packages, providing consistent, recurring, and often remarkably recession-proof, returns to leverage. Questions over the long-term profitability of investing in sports teams remain, owing to limited exit routes, liquidity concerns, and the inherent unpredictability of a team's future success. That said, investment in the sports sector has shown impressive value creation for private equity firms, while teams can experience higher ratings, better sponsorship deals, and greater fan engagement as a result. As the NFL opens its doors to private equity, August’s announcement likely marks the beginning of a resurgence in private equity’s involvement in US sport.  #privateequity #investment #sport #assetmanagement

The NFL is one step closer to allowing PE firms to invest in teams. On Thursday, the league supposedly met with multiple well-known firms including: • Arctos • Blackstone • The Carlyle Group • CVC • Dynasty Equity • Sixth Street The NFL committee is expected to hold a proposal for owners to vote on private equity’s role in team ownership at a meeting scheduled on August 27th. However, many details need to be sorted out before then. Sportico recently valued the Dallas Cowboys at $10 billion - the first team to ever reach a 10-digit valuation. The average NFL team is valued at $5.93 billion. Whether you agree with it or not, at this rate institutional capital throughout sports is inevitable. 📩 Vetted Sports sends out the latest sports tech news, trends, and insights straight to your inbox every Sunday. Join for free → https://lnkd.in/dUYVHG5y #sportsinvesting #sportsbusiness #sports

The Human Element Behind Football M&A: A Company Reflection At M Sports Group, we often reflect on the intangible yet powerful force driving our work - the human element behind football M&A. Over the past five years, we’ve had the privilege of collaborating with a diverse array of individuals — football club owners, investors, and professionals from across the globe. Our journey, while rooted in the business side of football, has been shaped by the people we’ve met and the connections we’ve forged. The complexities of football mergers & acquisitions are many, but at the core, the most successful outcomes are driven by shared values, trust, and a common vision. Our team’s unique combination of global experience, industry insight, and a personal understanding of the game has allowed us to bridge the gap between the business world and the football community. We've come to understand that while wealth and influence play key roles in the industry, it is ultimately the people who make the difference. Reflecting on the past year, one of the most rewarding aspects of our work has been facilitating collaborations between individuals with diverse backgrounds and aligning them toward a shared purpose. A recent example of this is our work with Anthony Serafino and Robin Stanton-Gleaves, whose partnership with Bromley FC was a true testament to the power of building meaningful relationships. At M Sports Group, we understand that creating lasting connections and ensuring the right people are aligned with the right opportunities takes time, effort, and, most importantly, trust. But when these connections come together, the results speak for themselves. The success stories we’ve been part of, including those like Bromley FC, are proof that when people come together with a shared goal, anything is possible. Looking ahead to 2025, we are excited for the opportunities that lie ahead. With multiple strategic initiatives already in motion, we are committed to facilitating more impactful partnerships and helping investors and football club owners reach their full potential. Our mission remains simple: to connect the right people with the right opportunities, driving growth and success in the world of football. At M Sports Group, we are proud of the work we’ve done and excited about the future. We look forward to another year of growth, collaboration, and success. #Football #SportsBusiness #MergersAndAcquisitions #FootballInvestment #SportsInvestment #FootballIndustry #FootballClubs #InvestorRelations #SportsM&A #BusinessGrowth #ClubOwnership #FootballDeals #SportsEntrepreneurs #FootballCommunity #SportsLeadership #FootballVision #InvestmentOpportunities #FootballBusiness #SportsNetworking #FootballOwners #ClubInvestment #SportsIndustryInsights #Multiclubownership

Private equity in sports is reshaping the way we think about the industry. Over the past year, we’ve witnessed transformative moves: Ares Management’s $8B valuation of the Miami Dolphins, Arctos Partners acquiring a stake in the Buffalo Bills, and the NFL’s game-changing decision to allow private equity investments. Having seen private equity evolve across industries over the years, I can say this feels different: 1️⃣ Sports Franchises Are Now Global Ecosystems Sports teams aren’t just about game-day revenues anymore. They’ve become global brands, drawing value from media rights, international fan bases, and digital platforms. The challenge is that intangible assets like fan loyalty and global reach are tough to value. Be that as it may, they’re proving to be key drivers of long-term returns. 2️⃣ Volatility factor Sports is a high-stakes, high-reward business. Revenue swings tied to team performance or sponsorship renewals require careful financial structuring. 3️⃣ Strategic Exits The value of a PE investment is predominantly in the exit. Whether it’s through IPOs, partnerships, or strategic sales, unlocking long-term growth potential is what defines success. Big Picture: Sports assets are becoming more than businesses.. The question is: how sustainable are these valuations, and what’s next for private equity in this space? #PrivateEquity #SportsInvestments #CapitalMarkets #SportsBusiness #MediaRights #Valuation #IPOs #MergersAndAcquisitions #AssetManagement

How Will Bally’s Corporation $4.6 Billion Buyout Impact the Gaming Industry? Bally’s has just been acquired by Standard General L.P. in a deal valued at $4.6 billion. This acquisition is more than just a financial transaction; it’s a strategic move that could reshape the gaming landscape. 🔍 Key Highlights: Expansion Strategy: Merging with The Queen Casino & Entertainment Inc. (QC&E) extends Bally’s reach to 19 casinos across 11 states. Financial Power: Standard General’s $500 million support demonstrates a robust financial strategy. Major Projects: Key developments include the Chicago casino resort and the new MLB stadium in Las Vegas. I'm learning more and more each day by industry veterans, hit me up so we could share some knowledge 🤝 #GamingIndustry #Fintech #BusinessAcquisition #Innovation #MarketTrends

Billionaire Bill Ackman’s Pershing Square Capital Management, L.P. has taken a 38% stake in Seaport Entertainment Group, the owner of the Oakland A’s Triple-A affiliate, the Las Vegas Aviators, and various real estate holdings in Nevada and New York. Seaport became a publicly traded entity after spinning off from Howard Hughes Corp. in August and completed a recent fundraising effort, raising $175m by selling 7m stock rights at $25 each. The Las Vegas Aviators, one of Seaport's most valuable assets, were the top-earning minor league baseball team in 2023, generating $33.4m in revenue, including $9m from ticket sales. Seaport also owns 80% of the air rights over the Las Vegas Fashion Show mall and a 25% stake in Jean-Georges Restaurants. The Aviators contribute a significant portion of Seaport’s revenue, but MLB regulations cap Ackman’s ownership influence. Under the team’s agreement, any shareholder holding more than 50% of Seaport must place the excess shares in a trust unless granted MLB approval. With Pershing Square backing Seaport’s stock rights offering, Ackman could control over 70% of the company. #LasVegasAviators #Baseball #MLB #MinorLeagueBaseball

Sports team valuations have risen dramatically in the past decade, fueled by expanding media rights deals and private equity investment. What does the growth trajectory mean for future team ownership? Josh Harris, 26North founder, Apollo co-founder, and managing partner of the NFL's Washington Commanders, sat down with Nicole Pullen Ross, head of Goldman Sachs Private Wealth Management Sports & Entertainment Solutions, to give his perspective in the first episode of our four-part series, Investing in Sports from Goldman Sachs Exchanges. https://click.gs.com/ozeh