Fenway Sports Group, Ian Charles (Arctos) and Sam Kennedy (FSG) (S.2, EP.01) скачать в хорошем качестве

Fenway Sports Group, Ian Charles (Arctos) and Sam Kennedy (FSG) (S.2, EP.01)

On the first episode of season two of PE Deals, Ian Charles and Sam Kennedy discuss Fenway Sports Group. Ian Charles is the founder and Managing Partner of Arctos Sports Partners, a private equity platform dedicated to the professional sports industry and sports franchise owners. He was a previous guest on Capital Allocators alongside his co-founder Doc O’Connor, and that conversation is replayed in the feed. Sam Kennedy is the longtime President and CEO of Arctos portfolio company, Fenway Sports Group. FSG is a twenty-year-old global sports, marketing, media, entertainment and real estate portfolio that has taken cherished and iconic sports clubs to new heights. The business includes ownership of the Boston Red Sox, Liverpool Football Club, and Pittsburgh Penguins, and a series of related real estate and media assets. Our conversation covers the Fenway Sports Group holdings, business drivers, and attractiveness as an investment. We discuss Arctos’ sourcing, underwriting, and perceived risks of the deal, and then turn to Sam’s operating strategy, tuck-in acquisition of the Pittsburgh Penguins, importance of fielding winning teams, impact of private institutional capital, capital structure, on-field product, and future plans. Long-time listeners likely know about my affinity for sports, so it is a great privilege to share this discussion of Arctos’ investment in FSG with you, and a special bonus to have Sam walking through how it works. Show Notes 07:23 Fenway Sports Group’s business 08:46 FSG’s attractiveness to Arctos 13:52 Arctos’ ability to add value 16:33 Sourcing and finalizing the deal 17:52 Due diligence process 19:51 Valuation of a trophy asset 21:30 Risk assessment 25:08 Economics of the businesses 27:47 Pittsburgh Penguins acquisition 31:38 Identifying and measuring synergies 34:05 Impact of winning on the field on the business 37:24 Influence of private capital 40:10 Optimal capital structure 43:37 Fan experience in European soccer 46:55 SPACs and exit strategy 49:59 Operational challenges 51:17 Takeaways 53:41 Closing questions Subscribe to the mailing list: https://capitalallocators.com/ Access Transcript with Premium Membership: https://capitalallocators.com/signup/ Subscribe on Apple Podcast: https://podcasts.apple.com/us/podcast... Follow Ted on Twitter:   / tseides   Follow Ted on LinkedIn:   / tedseides   Original Publish Date: 2/15/2023