Bloomberg Talks Marc Lasry Talks Private Equity in Sports
Mar 20, 2025
Marc Lasry, the Chairman and CEO of Avenue Capital Management and a key figure in sports investments, discusses the recent $6.1 billion purchase of the Boston Celtics. He highlights the surge of private equity in sports, emphasizing the rising valuations driven by media deals. The conversation explores the increasing popularity and investment in women's sports, showcasing a cultural shift among fans. Lasry also shares insights on the economic landscape affecting sports, illustrating the resilience of the industry during uncertain times.
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Bucks Purchase and Sale
- Marc Lasry paid $550 million for the Milwaukee Bucks, a price considered high at the time.
- He later sold his stake for around $3.5 billion, anticipating further price increases.
Revenue Streams in Sports
- Sports teams generate revenue through ticket sales, sponsorships, and media deals.
- Winning teams can increase ticket prices, but even losing teams see price increases, showcasing fan loyalty.
Growing International Fanbase
- To expand a team's international fanbase, leverage international players and play games in their home countries.
- Media plays a significant role in expanding the global reach of teams.