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Tuesday, March 5, 2024

Wall Street Looking For Big Money Sports Deals


Chasing sports deals used to be seen as a niche pursuit. Now Wall Street’s leading dealmakers are competing for fees in everything from football to cage fighting, after takeover activity in the world of professional sports hit new heights.

Wall Street’s leading dealmakers are competing for fees in various sports-related transactions, ranging from football to cage fighting. 

In 2023, investment banks played a significant role in steering approximately $25 billion worth of sports-related mergers and acquisitions, marking the third consecutive year of record-breaking transaction values in the sector. 

Notably, multibillion-dollar takeovers included the National Football League’s Washington Commanders, the National Basketball Association’s Milwaukee Bucks, and the combination of World Wrestling Entertainment Inc. with Ultimate Fighting Championship. 

As the trend continues, Wall Street banks are strategically positioning themselves to capture more deal-flow, with some creating dedicated desks and pulling in bankers from other teams to work on sports mandates. 

Specialist advisers are also actively participating in major deals, competing with larger rivals. The sports industry’s allure for investors and dealmakers remains strong, providing a welcome respite from the deals slump affecting other major industries.

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