Sixth Street, which oversees more than $70 billion
That alleged upside has typically only been experienced by the richest of the rich. However, the majority of the country’s top sports leagues recently changed their ownership policies to permit private equity firms to own minority stakes. The National Basketball Association, Major League Soccer, and the National Hockey League were among the numerous leagues that opened their coffers to private investment funds in 2019. Major League Baseball was the first.
According to PitchBook, the sports sector has received more than $120 billion in private equity and venture capital funding since the year began. Sixth Street Partners, a $74 billion giant known historically for its direct lending and growth capabilities, is a significant participant in that. Sixth Street Partners has made significant inroads in the sports world in recent years with investments totaling several billion dollars.
The business most recently co-founded Bay FC, a team in the National Women’s Soccer League, with Sheryl Sandberg and a number of former players. Additionally, Sixth Street invested in Legends, a provider of sports and entertainment experiences, and the LaLiga TV broadcasting rights of FC Barcelona. Sixth Street and Michael Dell oversaw a significant investment in the San Antonio Spurs basketball team in June 2021.The business also made an investment in Real Madrid, a storied soccer team in Spain, last year.
Six Street
The company’s CEO and co-founder, Alan Waxman, discussed the company’s strategy in what has grown to be a crowded industry exclusively for the Delivering Alpha Newsletter in his first-ever TV interview. He claimed that social media, streaming technologies, and other developments are altering the relationship between teams and their fans.
He claimed that instead of merely communicating with your fans in that local market, it has opened the floodgates for you to engage with customers all over the world.
According to Waxman, in ten years’ time, fans will be able to don a headset from their couch and virtually travel to a game anywhere in the world.
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