Private equity firm Arctos Sports Partners and another investor have now combined to buy a roughly 10% stake from the Miller family, the bankers say, in a transaction that values the Jazz, equity plus debt, at about $2.25 billion.
Kevin C. Cox/Getty ImagesLatest example: Back in December 2020, the Miller family80% of the Utah Jazz to Ryan Smith in a deal that valued the NBA team at $1.66 billion. Keeping a minority stake has proven to be a clever move, according to sports bankers. Private equity firm Arctos Sports Partners and another investor have now combined to buy a roughly 10% stake from the Miller family, the bankers say, in a transaction that values the Jazz, equity plus debt, at about $2.
The deal values the Jazz at about nine times estimated revenue for the 2021-22 season and is in line with the revenue multiple when Arctos increased its stake in the Golden State Warriors in December to 13% from 5%, at a $5.4 billion valuation.are the only two sports leagues in which teams are being valued at revenue-to-enterprise values above seven. For the NFL, it’s the enormous revenue and profitability.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Macy’s sees slowing sales activity in Q2, adjusts forecastU.S. retail corporation Macy’s Inc., owner of department store Bloomingdale’s, is reporting a 1.6 percent decrease in sales year-over-year, from $5.65 billion in 2021 to $5.6 billion in 2022.
Consulte Mais informação »
Regulator approves Parleys Canyon quarry, but with conditions that could forestall any miningProponents of a controversial limestone quarry in Parleys Canyon got their mining permit on Monday, but with conditions attached that could forestall development for months, if not forever.
Consulte Mais informação »
Utah corner Clark Phillips III gets AP preseason All-America honorsUtah corner Clark Phillips III was a standout for the Pac-12 champion Utes last season, recording 45 solo tackles, 13 pass deflections, two interceptions and one forced fumble.
Consulte Mais informação »
Nets say Kevin Durant is going to stay in Brooklyn, after allThe Nets said the team would continue its partnership with two-time NBA champion Kevin Durant.
Consulte Mais informação »
New home sales plummet to 6½-year low in July as mortgage rates soarSales dropped 29.6% on a year-on-year basis in July.
Consulte Mais informação »