Investors following the bouncing ball have seen sports emerge as a distinct and compelling asset class. Over the last six months, a series of professional sports franchises have sold at record-breaking valuations. This includes the March sale of the Boston Celtics to an investment group led by William Chisholm for a purchase price of at least $6.1 billion – a record for the highest valuation for a sports franchise at the time the deal was announced. That record lasted all of three months before being eclipsed in June, as the Buss family announced the sale of a majority stake in the Los Angeles Lakers at a valuation of $10 billion. These were followed in short order by the August sale of control of the Portland Trail Blazers by the estate of Paul G. Allen to an investor group led by Tom Dundon at a valuation of $4.25 billion.
- Posted in: Insight
- Tagged in: Deal Terms, Private Equity, Trends
