Steve Young: What private equity could do for the NFL
May 16, 2024
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Former NFL quarterback turned private equity investor, Steve Young, discusses the surge of private equity investments in sports teams and makes the case for private equity buyers in the NFL. He also talks about coaching girls in flag football and the potential impact of private equity firms in NFL ownership.
Private equity investments in NFL teams offer generational liquidity and professional team management.
Girls' flag football demonstrates the game's appeal and inclusivity for female players, with potential for significant growth.
Deep dives
Steve Young's Transition to Private Equity
Former NFL quarterback Steve Young transitioned from a successful football career to private equity, co-founding the firm HGGC. Unlike many athletes who dabble in private equity, Young was actively involved in operations and investments, accumulating over $7 billion in capital and investing in 600 companies. He advocates for private equity buyers in the NFL to address existing challenges.
Impacts of Private Equity Investments in the NFL
Private equity investments in NFL teams bring potential benefits like generational liquidity and professionalization of team management. These investments could alleviate the tax burden on older owners and enhance the financial rigor within NFL organizations. Steve Young believes that private equity involvement can lead to better governance and operational standards.
Promoting Inclusion in Girls' Flag Football
Steve Young's coaching experience with girls' flag football revealed the game's appeal and inclusivity for female players. He observed that football's strategic and choreographed nature resonated well with the girls, leading to their excitement and quick grasp of the game's nuances. Young believes that girls' flag football has the potential to grow significantly, paralleling sports like volleyball and gymnastics in popularity.
In his more than 15 years in pro football, NFL quarterback Steve Young made his name on the field as one of the most efficient passers of all time. But after his retirement, he turned his career to private equity, co-founding the firm HGGC in 2007. Now, Young is watching the recent surge in private equity investments in sports teams, and making the case for private equity buyers in the NFL. Axios business editor Dan Primack sat down with Young to talk about his business and the future of football--and why he says "football is made for girls"--in this special episode taped live at Axios BFD in San Francisco.
Plus: Dan Primack gives us the big picture on private equity and pro sports, and why it matters.
Guests: Steve Young, NFL legend and private equity investor; Dan Primack, Axios business editor
Credits: 1 big thing is produced by Niala Boodhoo, Alexandra Botti, and Jay Cowit. Music is composed by Alex Sugiura and Jay Cowit. You can reach us at podcasts@axios.com. You can send questions, comments and story ideas as a text or voice memo to Niala at 202-918-4893.