Arctos Buying Minority Stake in Elevate Sports Ventures
Arctos Sports Partners is in advanced talks to invest in consulting firm Elevate Sports Ventures, the latest addition to a rapidly growing portfolio of franchises and adjacent businesses.
The private equity firm is nearing a deal to purchase a minority stake in the business, according to people familiar with the deal, who were granted anonymity because the details are private. Arctos will join current partners Oak View Group, Harris Blitzer Sports & Entertainment, the San Francisco 49ers, and Live Nation (NYSE: LYV).
More from Sportico.com
Harlem Globetrotters Appoint Former Nickelodeon Exec as President
NBA Billionaires David Blitzer, Ryan Smith Buy MLS Club Real Salt Lake
Representatives for Elevate and Arctos both declined to comment.
Launched in 2018, Elevate does business with some of the biggest sports and entertainment properties across the globe. The firm’s expertise includes hospitality sales, naming-rights deals, brand consulting, business analytics and sponsorship sales. The group’s clients include the NCAA, NHL, U.S. Open, College Football Playoff and dozens of pro sports franchises around the world.
There are obvious synergies with other parts of the Arctos portfolio. As major U.S. leagues open up to private-equity investors, Arctos has moved quickly—the firm had about $2.9 billion in assets under management as of October and has made more than a dozen investments. Those include minority stakes in the Golden State Warriors, Sacramento Kings, Tampa Bay Lightning, Minnesota Wild, Real Salt Lake and Fenway Sports Group.
Arctos is led by private equity veteran Ian Charles and David “Doc” O’Connor, former CEO of Madison Square Garden. The fund, which launched in 2019, is backed primarily by institutional investors.
Best of Sportico.com
