[ad_1]
JPMorgan announced a new sports investment banking team less than a week before the NFL’s team owners meeting to discuss whether to open its doors to institutional investors.
The new team will work across JPMorgan’s investment, commercial and private banks, according to a copy of the memo obtained by Business Insider. The company will be led by Eric Mennell and Gian Piero Sammartano, according to the memo signed by Fred Turpin, JPMorgan’s global head of media and communications investment banking.
Mr. Mennell, a New York-based media banker, will report to Mr. Turpin, according to the memo. Pierrot, a media banker based in London, will continue to report to Burkhard Cope, the bank’s head of media and telecoms for Europe, the Middle East and Africa.
The announcement comes as owners of all 32 teams gather in the NFL to discuss rule changes that could open the floodgates to wealthier investors and the financial institutions that serve them, including venture capitalists and private equity. It was held less than a week before the next league meeting. companies.
It also comes after Goldman Sachs announced plans to create a new global sports franchise unit to serve high-value sports clients who want to buy stakes in sports teams. Goldman Sachs’ sports division will be led by Greg Carey and Dave Deiss, who will become co-heads of sports franchises.
The memo announcing the creation of JPMorgan’s new group touts the bank’s work advising sports and media clients such as World Wrestling Entertainment and Italian soccer club Juventus FC. It also cites a broader sports investment boom that has seen valuations skyrocket.
“Today, the combined value of the top sports franchises in the United States and Europe exceeds 400 billion, making sports an increasingly large asset and attracting more and more institutional investors.”
Below is JPMorgan’s full memo outlining the JPMorgan News Sports Investment Banking team and the group’s new leadership.
I’m pleased to announce our new Sports Investment Banking coverage. Eric Menel and Gian Piero Sammartano.
The group leverages JPMorgan’s substantial capabilities across investment banking, commercial banking and private banking to provide comprehensive advice and financial solutions to current and prospective sports clients around the world. Eric and Jean Pierrot will report to me on global field coverage, and Jean Pierrot will maintain the local reporting line to Burkhardt Coop.
With the top sports franchises in the US and Europe now worth a total of over 400 billion, sports are becoming an increasingly big asset and attracting more and more institutional investors.
Our leading sports advisory practice works with our M&A colleagues to include advising on minor acquisitions by Liberty Media, QIA, World Wrestling Entertainment, Juventus FC, Quinn Events, Renault Group and Sir Jim Ratcliffe. I have worked on a wide range of recent transactions. Manchester United.
Additionally, working closely with our commercial, public finance, and private banking partners, we have established a prominent sports finance franchise and have completed recent transactions for all major sports leagues in the United States and many teams around the world. I’ve been leading. This includes loans to state governments. State-of-the-art stadiums and arenas for world-famous teams.
Please join me in congratulating Eric and Jean Pierrot on their increased responsibilities. We are excited about the opportunity to grow our global sports activities, supported by the collective efforts of our colleagues within the company.
fred
[ad_2]
Source link
