Financial services firm Goldman Sachs is developing a new global division called Sports Franchise in Investment Banking, according to The Wall Street Journal, which first reported the plan, and other press sources.
The new division is meant to offer wealthy clients worldwide more opportunities for investment in teams and other sports and entertainment entities. It will also combine Goldman Sachs’s prior sports mergers and acquisitions practice with the group’s activities in sports financing.
The Sports Franchise in Investment Banking unit will be co-led by Goldman Sachs executives Greg Carey and Dave Dase.
