Arctos Acquires Partnership in NBA's Jazz, Setting up Utah for Further Sports Development
The sports investment firm Arctos Sports Partners is on the brink of expanding its NBA portfolio, with the pending approval of the NBA for a minority stake in the Utah Jazz. This deal would make Arctos a member of the ownership group for the Jazz, joining an already impressive list of franchises they have investments in.
Last year, Dwyane Wade became a part of the Jazz ownership group, and now Arctos Sports Partners is set to follow suit. If approved, the Utah Jazz will become the fourth NBA team in Arctos' portfolio, which already includes the Golden State Warriors, Sacramento Kings, Philadelphia 76ers, Minnesota Timberwolves, and possibly the Atlanta Hawks.
The tech billionaire Ryan Smith purchased the Utah Jazz for $1.66 billion two years ago, and the team's value has since grown to $1.78 billion, making it the 22nd most valuable team in the NBA. The Utah Royals of the National Women's Soccer League are also valued at $100 million, as part of a recent $580 million soccer buy.
Mike Cannon-Brookes, cofounder of enterprise software firm Atlassian, is already a member of the Jazz ownership group. Arctos Sports Partners, known as the largest sports-focused private equity fund in the world, has more than $5 billion in client money distributed across multiple funds.
Arctos' exact ownership stake in the Jazz hasn't been disclosed, but the firm has controlling interests in the Golden State Warriors (13%), the Sacramento Kings (17%), and the parent company of the Philadelphia 76ers. The firm also has investments in half a dozen Major League Baseball teams, three National Hockey League squads, and European soccer clubs.
Chad Hutchinson, a partner at Arctos, expressed excitement about potential sports-related opportunities in Utah and building a premier sports and entertainment center there. Arctos believes in the potential of SEG (Sports Entertainment Group) to become a major sports and entertainment group.
The NBA's bylaw requires ownership stakes to be at least 1% of a team. Arctos Sports Partners has investments in Elevate Sports Ventures, further demonstrating their commitment to sports and entertainment ventures. As they await the NBA's approval, Arctos Sports Partners continues to be a major player in the world of sports investment.
- Arctos Sports Partners, the largest sports-focused private equity fund in the world, is poised to invest in the NBA, potentially acquiring a minority stake in the Utah Jazz, which would expand their portfolio.
- If approved, the Utah Jazz will join other NBA teams in Arctos' investment portfolio, including the Golden State Warriors, Sacramento Kings, Philadelphia 76ers, Minnesota Timberwolves, and possibly the Atlanta Hawks.
- Known for their extensive investments in various sports entities, including Major League Baseball teams, National Hockey League squads, and European soccer clubs, Arctos Sports Partners continues to be a significant force in the sports investment world.
