Global financial firm JP Morgan Chase has set up a new “sports investment banking coverage group” to advise clients in an increasingly lucrative industry, according to an internal memo seen by Reuters. The new team will be co-led by Eric Menell, Managing Director, co-Head of North American Media Investment Banking at JP Morgan, and his colleague Gian Piero Sammartano, Managing Director, Head of EMEA Media Investment Banking. They will report to Fred Turpin, Managing Director and Global Head of JP Morgan’s Media and Communications.