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Boehly, Lasry and Magic Enterprises Cap Sportico ‘Invest’ LA Event

eric jackson
·3 min read

Todd Boehly is a proud limited partner of the Los Angeles Dodgers and Los Angeles Lakers, but at Sportico’s Invest in Sports Los Angeles event on Wednesday, he admitted there’s something different about being a team boss in the Premier League.

The Chelsea FC chairman and owner recalled a conversation with former Chelsea center back Kalidou Koulibaly to illustrate how EPL is different from other pro sports leagues.

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“[He] came over from Serie A and he told me one time, ‘In Serie A, I get to think and then run, but in Premier League I have to run while I think, and I’m still adjusting to that’,” Boehly said during his conversation with Sportico editor in chief Scott Soshnick.

Boehly, the co-founder of Eldridge Industries, touched on the importance of winning in EPL and the proposed salary cap in the globally popular league. He supports the recent proposal to gain control of salaries to help manage costs, which are a drag on team valuations.

“When you think about the size and scale of European football, it’s just mind-numbing,” he added. “There’s no better league in the world than the Premier League.”

Boehly joined a lively series of conversations which included Los Angeles Golf Club and Angel City FC owner Alexis Ohanian; Angel City co-founder and president Julie Uhrman; LA Dodgers president and CEO Stan Kasten; 49ers Enterprises president Paraag Marathe; AEG president Dan Beckerman; Portland Thorns alternate governor Alex Bhathal; and LAFC owner and Ares Management co-founder Bennett Rosenthal.

The Power of Magic

Magic Johnson Enterprises president Christina Francis took the stage alongside AEG president Beckerman during the Sports Entertainment Nexus panel.

Francis spoke about how businessman and basketball Hall of Famer Earvin “Magic” Johnson leverages his popularity not just to drive revenue but to impact underserved communities and boost related initiatives.

He’s also something of a split personality.

“There’s a very big difference between Magic and Earvin,” she said. “If you’re sitting in a meeting with him, you’re talking to Earvin, and he’s asking you questions and he’s competitive. But when you’re talking to Magic, you’re talking to the entertainer and this bright light who can empower everyone in this room.”

‘Massive Opportunity’ in Women’s Sports

Avenue Capital co-founder Lasry is knee deep in Avenue Sports Fund, which launched last year with a focus on women’s sports.

The former Milwaukee Bucks owner is bullish on the future of women sports; the billionaire believes this new wave of investment is just ground floor.

“We want to be at the beginning because that’s where you are in women’s sports today,” he said during the “Meteoric Rise in Women’s Sports” panel. “You’re going to see the valuations of these franchises [rise]. That’s the opportunity, and that’s why we’re involved.”

West Coast Offense

Kroenke Sports and Entertainment president of team and media operations Kevin Demoff and SoFi CEO Anthony Noto closed out Wednesday’s conference with the “The LA Football Landscape” panel. The two spoke about the major partnership between the Los Angles Rams and SoFi and how winning lifts both entities in a number of ways, including popularity across a local scene where everyone fights for eyeballs.

“Winning is the cover charge to be relevant in LA,” Demoff said.

Noto, a former West Point football player, also spoke on his push to bring the Army-Navy football game to SoFi Stadium.

Sportico’s Invest in Sports Los Angeles event was sponsored by Moelis & Company; Airbus Corporate Jets (ACJ); Accelerate Sports; Montminy & Co.; Latham & Watkins LLP; LA Venture Association (LAVA); and the UCLA Center for Media, Entertainment and Sports.

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