Goldman Sachs Expands into Sports Franchise Sector with New Division
September 16, 2023, 2:15 p.m. – In a move that reflects the bank’s recognition of the lucrative opportunities offered by the constantly growing sports franchise market, financial corporation Goldman Sachs has announced the creation of a new division dedicated to sports franchises within its investment banking sector.
The decision to diversify its assets and enter the sports franchise sector is part of Goldman Sachs’ ongoing strategy to meet the unique investment needs of its high-net-worth clients. By offering its wealthiest clients the opportunity to acquire shares in private sports teams, the bank aims to provide a new avenue for investment and diversification.
Leveraging its extensive experience in mergers and acquisitions, as well as its specialized sports finance team, Goldman Sachs’ new division will work in collaboration with asset and wealth managers to facilitate investments in high-profile transactions, including stadiums and sports teams.
Leading the new company will be two renowned experts in the financial world: Greg Carey, the current president of Goldman’s infrastructure and public sector group, and Dave Dase, who oversees the investment banking unit’s southeast region. Their expertise and leadership will ensure the success of the division as it makes its mark in the sports franchise sector.
Following the announcement, Goldman Sachs shares rose slightly on Wall Street, indicating a positive response from investors and bolstering confidence in the bank’s strategic vision. This expansion into the sports franchise sector not only diversifies Goldman Sachs’ portfolio but also positions the bank to capitalize on the continuously growing market for sports investments.
With this new division, Goldman Sachs solidifies its commitment to meeting the evolving needs of its clients and remains at the forefront of innovative and strategic financial services.