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The NFL hosted private equity executives at the league’s Park Ave. headquarters Thursday, as the world’s richest sports league moves to open its doors to institutional investors.
Seven firms were invited to present, with four separate meetings on the docket, according to multiple sources who were granted anonymity because the matter is private. Arctos Partners, Ares Management and Sixth Street each had individual sessions with NFL management and representatives from PJT Partners, which the league hired to assist the process. The three PE firms all currently have extensive holdings in sports.
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The fourth meeting was with a consortium that includes Blackstone, Carlyle, CVC and Dynasty Equity, the people said. One person compared the gathering of executives from the consortium, which represent half of the world’s six largest PE firms by assets under management, akin to a superhero meetup in The Avengers.
NFL representatives in the room included commissioner Roger Goodell, finance executive Joe Siclare, CFO Christine Dorfler, and league lawyers Jeffrey Pash and Jay Bauman.
A special NFL committee, formed last year to examine the league’s ownership rules, tuned in via Zoom. That group includes Kansas City Chiefs owner Clark Hunt, who is chairman of the NFL’s finance committee, plus Cleveland Browns owner Jimmy Haslam, Atlanta Falcons owner Arthur Blank, New England Patriots owner Robert Kraft and Denver Broncos owner Greg Penner.
On Thursday, Sportico broke the news that Arctos and the consortium had meetings but was not able to confirm the Ares and Sixth Street meetings until today.
The NFL and the private equity firms present declined to comment on the meetings.
Private equity firms that previously had conversations with the NFL but were not granted meetings Thursday included Apollo, Dyal Capital Partners and RedBird Capital Partners. RedBird faced a potential conflict, as it is part of Skydance Media’s pending purchase of Paramount,…
Source link : https://finance.yahoo.com/news/nfl-grants-ares-sixth-street-164413004.html
Author : Sportico
Publish date : 2024-08-16 16:44:13
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