Press Release: Launch of Cynosure | Checketts Sports Capital Fund
New York, NY – Dave Checketts and the Eccles family of Utah are set to revolutionize the sports investment landscape with the announcement of the Cynosure | Checketts Sports Capital Fund, a groundbreaking private equity initiative aiming to invest over $1.2 billion in the sports sector.
Officially announced on Monday, the fund plans to focus on a diverse array of investments within the sports industry, including teams, leagues, facilities, technology, and media ventures. Detailed investment strategies are yet to be revealed, but the fund will operate out of offices in New York City and Salt Lake City.
Dave Checketts, a seasoned figure in global sports management, holds part-ownership of various organizations including Burnley FC in the UK. His impressive resume includes significant roles as team president for the Utah Jazz and New York Knicks, as well as founding the WNBA’s New York Liberty and MLS’ Real Salt Lake. Meanwhile, the Eccles family, known for their longstanding commitments to sports through the Cynosure Group, boasts Spencer Eccles on the board of the Salt Lake Organizing Committee for the upcoming 2034 Winter Olympics.
As private equity investment in U.S. sports continues to gain momentum, professional leagues are loosening their ownership restrictions. Notably, the NFL has recently permitted private equity funds to acquire up to 10% stakes in franchises, marking a significant shift in the industry. This trend has seen firms acquiring shares in teams like the Buffalo Bills and Miami Dolphins.
In college sports, private equity interest is also rising, with reports of preliminary bids being taken by the Big Ten Conference this year. The Cynosure | Checketts Sports Capital Fund is poised to make a significant impact in this evolving landscape.
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