JPMorgan Chase forms sports investment banking group as sports M&A heats up – report

Striking While the Iron is Hot: JPMorgan Chase’s Daring Venture

• JPMorgan Chase (NYSE:JPM) has taken a bold step by forming a specialized investment banking unit focused solely on the sports industry. This move underscores the intensifying competition to secure lucrative advisory roles in the dynamic landscape of mergers and acquisitions.
• The financial giant has appointed Eric Menell and Gian Piero Sammartano as co-leads of this newly minted sports investment banking team, according to a report from Bloomberg News referencing an internal communication.
• In a strategic maneuver, JPMorgan Chase (JPM), the country’s largest bank by assets, has entered the fray, challenging the likes of specialized consultancy firms like Raine Group, Moelis & Co., Rothschild, and Inner Circle Sports. This gambit follows Goldman Sachs’ establishment of a dedicated sports division led by Greg Carey and Dave Dase in the previous year.
• Market data compiled by Bloomberg reveals that investment banks played a key role in approximately $25 billion worth of sports-centered mergers and acquisitions in 2023, marking the third consecutive year of soaring transaction volumes within this sector.
• Not a newcomer to the game, JPMorgan (JPM) has been a major player in sports finance, demonstrating prowess through involvement in high-profile transactions such as British tycoon Jim Ratcliffe’s acquisition of around a quarter stake in Manchester United (MANU) and deals encompassing World Wrestling Entertainment, Italian football powerhouse Juventus FC, and automotive titan Renault Group (OTCPK:RNSDF) (OTCPK:RNLSY).