PRINCIPAL, MSP SPORTS CAPITAL
WHY: Longtime sports agent turned business executive, including exec and ownership roles at San Diego Padres and Arizona Diamondbacks.
IN THE NEWS: Added Formula 1’s McLaren Racing to portfolio, which includes several European soccer teams.
QUOTABLE: “Fundamentally, investors are attracted to the disproportionate annualized returns available in sports, with limited relative downside risk. The indexed valuation performance of sports franchises and clubs has far outpaced the S&P 500 over the last decade, and in some leagues, such as the NBA and MLB, has done so dramatically. Rising valuations have shown to be uncorrelated to on-field performance or to the broader market cycles.”
