Goldman Sachs Offers Unique Investment Opportunity For Affluent Investors: Own a Slice Of Private Sports Team
Benzinga · 09/15 13:13

Goldman Sachs Group Inc (NYSE:GS) is reportedly gearing up to provide affluent clients a chance to acquire a share of ownership in a private sports team.

The bank is establishing a dedicated "sports franchise" division within its investment banking segment, merging sports-related mergers and acquisitions with sports financing. 

A primary objective is collaborating with asset and wealth management to present affluent clients with investment prospects in teams, stadiums, and other high-profile sports ventures.

While Goldman has not disclosed the specific teams available for investment, the bank has previously been involved in various high-profile transactions in the U.S. and internationally, the Wall Street Journal noted. 

These include the sales of Chelsea Football Club, Formula One, and a minority stake in the Tennessee Titans football team. 

Owning a stake in a sports team represents more than just a financial opportunity, the report added. 

Some investors are drawn to sports teams out of nostalgia or passion, similar to how art investors are attracted to paintings. 

Goldman's offering will involve presenting clients with the opportunity to own a portion of a team or, in some cases, to acquire an entire team. 

The leadership of Goldman's new sports franchise team will be shared by Greg Carey, chairman of Goldman's public sector and infrastructure group, and Dave Dase, responsible for Goldman's investment bank operations in the Southeast region. 

Goldman's clients will be able to participate in equity and debt transactions. 

Price Action: GS shares are up 0.20% at $345.25 during the premarket session on the last check Friday.