All articles tagged with #minority stake
Chiefs tight end Travis Kelce is buying a minority stake in MLB's Cleveland Guardians, citing his baseball roots and saying he plans to observe, learn, and support the team and city, with a playful nod to rival Chiefs quarterback Patrick Mahomes, who owns part of the Royals.
A Silver Lake–led group purchases 25% of the Las Vegas Raiders in a deal valuing the franchise at $9.9 billion, with Tom Brady installed as de facto president of football operations and new minority owners like Egon Durban and Michael Meldman joining the fold; Mark Davis retains 36% control, and a March succession plan could pave the way for Durban to own the team in the future.
The Cleveland Browns are set to vote on selling a 3% stake to Arctos, a private-equity fund that already owns stakes in the Chargers and Bills; valuation hasn't been disclosed, but at a roughly $10 billion Browns value the stake would be about $300 million. The sale would inject cash as Cleveland pursues a new stadium financed with private contributions exceeding $1.755 billion.
Penner Sports Group, run by the Penner family that owns the Denver Broncos, purchased a 40% stake in the Colorado Rockies, becoming the largest minority owner while the Monforts retain majority control. The deal, reportedly around $672 million, will retire debt and fund investments, though it’s unclear whether payroll levels will rise; the Penners will not have daily Rockies duties and will stay focused on the Broncos.
The New England Patriots are selling an 8% minority stake to outside investors in a deal valuing the franchise at over $9 billion, with key investors including billionaire Dean Metropoulus and Sixth Street Partners, pending NFL approval.
Eli Manning has decided not to pursue a minority ownership stake in the New York Giants due to the high cost, despite interest from other former players and investors, citing affordability and potential conflicts with his broadcasting role as reasons for his decision.
Ken Griffin, founder of the $65 billion hedge fund Citadel, expressed openness to selling a minority stake in the firm in the future, as stated in an interview with Bloomberg at the Economic Club of New York.
Jeff Lurie, owner of the Philadelphia Eagles, is considering selling a minority stake in the team, which he bought in 1994 for $185 million and is now valued at $7.5 billion. Lurie is working with investment bank BDT & MSD to find potential buyers but insists there is no path to a controlling interest. The exact percentage for sale is undetermined, and a deal may not materialize. This move is unlikely to affect the team's day-to-day operations, and Lurie has been increasingly involving his son Julian in team operations. The Eagles have not commented on the report.
Philadelphia Eagles owner Jeff Lurie is exploring the sale of a minority stake in the NFL team, potentially valuing the franchise at over $7.5 billion, a record price for an NFL team.
Amazon has acquired a minority stake in Diamond Sports Group's Bally Sports regional networks, allowing games televised on Bally Sports channels to be streamed on Amazon Prime, benefiting nearly 40 MLB, NBA, and NHL teams with local television contracts. This move comes as part of Diamond's bankruptcy restructuring, providing a potential stabilizing force in the uncertain television landscape for professional sports teams across the country.
Mastercard is set to acquire a minority stake in the fintech arm of MTN, a South African telecommunications company. The partnership aims to expand digital payment services and financial inclusion in Africa.
Tom Brady has reached an agreement with Las Vegas Raiders owner Mark Davis for a minority ownership stake in the NFL franchise, pending approval by the league's owners. If approved, Brady would become the third player in league history to have an ownership stake in a franchise. The terms of the deal were not reported, and it is unclear how the ownership stake would affect Brady's role as a Fox analyst.
John Lewis is reportedly considering selling a minority stake in its employee-owned business structure to raise up to £2bn for investment in technology, data analysis, and Waitrose's supply chain. The move would not remove the mutual ownership structure altogether, and staff would retain majority control. The profit-sharing model has occasionally resulted in big windfalls, but the firm has had to navigate the pandemic and a cost of living crisis, resulting in a loss of £234m in 2022-3 and no bonus to staff. John Lewis has not commented on the reports.