Goldman Sachs Creates New Global Sports Franchise Division
In an internal shakeup, Goldman Sachs is creating a new global sports franchise division that will collaborate with its asset and wealth management team to offer investing opportunities to ultra-high net worth clients, some of which buy stakes in sports teams.
Goldman Sachs executives Greg Carey and Dave Dase will be co-heads of the new division, Sports Franchise in Investment Banking, and will assume additional responsibilities. As the sports landscape continues to see an increase of capital from investors, the two will lead the bank’s business efforts to create solutions for clients worldwide across sports, media, tech and entertainment.
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The new division is a result of the bank combining its sports mergers and acquisitions practice with the sports financing group. Goldman Sachs has consolidated to create more structure around its sports franchising offerings and capabilities while meeting the growing demands for investment in sports-related properties.
Dase is head of the Southeast Region of Goldman Sachs’ Investment Banking Division in the U.S., where he focuses on client relationships across the region in tech, media and telecommunications. Carey serves as chairman of the Public Sector and Infrastructure Group with an expertise in stadium and sports project financing.
They both will maintain their current reporting lines.
Goldman Sachs execs Stacy Sonnenberg, Elis Jones and Mike Kenworthy will continue to serve in leadership roles in sports business areas within the new Sports Franchise in Investment Banking division. Jones will be focused on EMEA business, Sonnenberg will continue to lead the financing business, and Kenworthy will handle the Americas business.
The trio will report to Dase and Carey for sports-related matters.
(This story has been corrected in the first paragraph to better reflect the duties of Goldman Sachs’ global sports franchise division.)
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