Could 17, 2025
Williams, Cuban, and Steve Cannon, former CEO of the corporate overseeing the Falcons, have launched Harbinger Sports activities Companions Fund.
Enterprise capitalist Rashaun Williams has joined forces with two trade powerhouses to type a brand new funding group centered on buying possession stakes in NBA, NFL, and MLB groups.
Williams, a restricted associate within the Atlanta Falcons, has teamed up with Steve Cannon, the previous CEO of the corporate overseeing the Falcons, and enterprise mogul and “Shark Tank” star Mark Cuban, a principal and present minority proprietor of the Dallas Mavericks, to launch Harbinger Sports activities Companions Fund. The brand new funding group goals to purchase stakes of as much as 5% in possession alternatives throughout the NBA, NFL, and Main League Baseball, Bloomberg studies.
The partnership is available in response to hovering workforce valuations in recent times, as institutional buyers more and more enter the market. In 2024, the NFL grew to become the most recent professional league to allow institutional investments.
Williams, an early investor in corporations like Lyft Inc. and Coinbase International Inc., cites the operational experience Cuban and Cannon each carry, which pairs properly with the fund’s give attention to leagues with robust income. The plan is to differentiate Harbinger from different current sports activities personal fairness funds as rich buyers search sports activities groups as high-growth belongings and never affected by fairness market fluctuations.
“My background is moving into personal, illiquid corporations and getting out within the secondary market,” he stated.
“Our aim is so as to add perception and worth to all our sports activities investments,” Cannon stated in a press release.
Cannon’s new partnership comes one yr after his retirement following years of main Arthur M. Clean Sports activities and Leisure, the proprietor of the Falcons and MLS’s Atlanta United. Cannon says the partnership brings collectively uncommon sports activities experience throughout possession, workforce and league operations, and stadium improvement.
Cuban owned the Mavericks for two, 3 years earlier than promoting his majority stake to Miriam Adelson’s household and retaining a 27% possession share. Credited for being a savvy investor, Cuban not manages the workforce’s day by day operations and now seems to be searching for new sports activities investments after leaving “Shark Tank.”
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