Private Equity in Sport

A deep dive into how PE investments work in the sport sector

Private equity investment is reshaping the sports industry with unprecedented sums of private capital being invested across the sector. Some of the biggest financial institutions in the world are now viewing sport as a highly attractive asset class, with highly engaged, passionate audiences, predictable revenues from media and commercial rights, and opportunities for growth, combined with rarity, prestige and glamour, to make an intoxicating (and potentially highly lucrative) proposition.  

Following the success of our first Private Equity in Sport course, this programme takes a deeper dive into the challenges, complexities, and nuances of PE investment in sport, bringing together some of the most experienced practitioners from the buy-side and sell-side to share their insights and knowledge on this fascinating aspect of the industry.

For anyone working in the business of sport, an understanding of how private equity works, what investors are looking for, and how to make investments a success for all stakeholders, is now critical knowledge.  

Join this course to grow your understanding and expand your network


Course curriculum

  • 1

    Monday May 23rd

    • 0900 - 0915: Introduction and housekeeping with Dr Rob Wilson, InSport Education UK Academic Director, and Head of Department, Finance, Business and Accounting Systems at Sheffield Business School

    • 0915 - 1015: Managing an earn out and your investor; Matt Rogan, Founder and Director of Rogan Sport, Co-Founder of Two Circles & Claire Rogan, former CFO of Two Circles and investment director at Pi Capital.

    • 1015 - 1100: How to navigate a deal; a walkthrough of the buyout model; Tim Thomas, partner at Liberty Corporate Finance

    • 1100 - 1115: BREAK

    • 1115 - 1200: Q&A: The investment opportunity in Rugby Union with James Davies-Yandle, Founder of Y11 Sport & Media, owners of The Ospreys

    • 1200 - 1300: Adjusting investment strategies to a changing world, the importance of flexibility; Emeric Hudault, CFO Fosun Sports Group , owners of Wolverhampton Wanderers;

    • 1300 - 1300: Day 1 round up and discussion

  • 2

    Tuesday May 24th

    • 0900 - 0915: Recap of Day 1, introduction to Day 2 with Dr Rob Wilson

    • 0915 - 1000: What Private Equity is looking for (and what it's not); Sean McGuire, Managing Director at Oliver & Ohlbaum Associates

    • 1000 - 1100: Panel: Private equity investment and governance; Dame Heather Rabbatts, Founder of Women's Sport Group and Colin Moynihan, former UK Minister for Sport

    • 1100 - 1115: BREAK

    • 1115 - 1200: Q&A: Building and managing an international portfolio; Massimo Marinelli, CEO of Aser Ventures

    • 1200 - 1300: Key legal issues to consider when investing in sport – a private equity and rights holder perspective; Harriet Leach, Legal Director and Head of Women's Football at Onside Law

    • 1300-1330: Day 2 wrap up and discussion

Early Bird prices currently available

Student rates

Group / Corporate rates

Speakers

See below for our faculty of expert contributors from across the world of private equity, finance, advisory and sport

Massimo Marinelli

CEO of Aser Ventures

Massimo leads the investment strategy for the sports, media and technology investment platform Aser Ventures. He is also a board member of Leeds United. Before joining Aser, Massimo spent 15 years in Investment Banking in the City and Wall Street, latterly as Managing Director, Head of EMEA Media & Internet at UBS Investment Bank. Massimo has significant expertise in sports having led and executed successful M&A and capital markets transactions for MP & Silva, Formula 1, Dorna, Infront, and Perform amongst others.

Claire Rogan

Co-founder and former CFO of Two Circles, investment Manager at Pi Capital

Claire is a finance professional who has spent her career in and around growth stage businesses. Having graduated from Cambridge University, she spent time in the private equity practice within KPMG Corporate Finance. As an Investment Director at Pi Capital Claire oversaw a number of successful acquisitions and disposals including in sports (both betting and ad tech), leisure, retail and professional services among others. Claire was a Co-Founder, Board Director and CFO at Two Circles from 2011 - 2020, leading the business through two acquisitions by WPP and Bruin Sports Capital respectively.

Sean McGuire

Managing Director of Oliver & Ohlbaum Associates

Sean is Managing Director of Oliver & Ohlbaum Associates, the London-based strategic advisers to the media, sports and entertainment industries. Sean has advised many global sports, leagues, rights holders and investors in sport, covering some of the biggest PE deals in the sector. He has worked with an extraordinary list of investors (including CVC, Bridgepoint, Bridgepoint, Redbird) and rights holders across multiple sports (6 Nations, Formula 1, Formula E, Moto GP, Rajasthan Royals)

Tim Thomas

Partner at Liberty Corporate Finance

Tim has been working in the Private Equity industry for over 20 years. He initially qualified as a chartered accountant at PwC and then worked in M&A roles at Prudential and KPMG before working for several UK mid-market funds including Bridgepoint, RJD Partners and Hermes. Having spent most of his career in private equity funds, Tim’s experience of leading new deals and sitting on the boards of portfolio companies allows him to provide management teams with helpful advice and support throughout a transaction process. He is dedicated to helping his clients identify and partner with the right investor on the optimal terms and believes that this is key to enabling CEOs, their teams and their business to deliver on their full potential. Tim has a Classics degree from Cambridge University. He is on the Board of a children’s educational charity, PSHE Association and is a Governor of a secondary school in Hounslow. Outside of work and family life, he enjoys watching rugby and playing tennis and golf.

Emeric Hudault

Executive Director of Fosun CFO of Fosun Sports Group

After 15 years as a banker during which he helped private equity clients finance their transactions, Emeric joined Fosun in 2017. He first set up a direct lending platform in Europe before joining Fosun Sports Group as CFO where he is in charge of financing, capital markets and investment in Europe and the USA. Fosun Sports Group build iconic IP / sport franchises supported by the best-in-class monetisation platform across product, content and experience. They are active in Premier League football with Wolves, top esports leagues globally through Wolves esports and Evil Geniuses in the US, gaming, music production, merchandising and operations.

Dame Heather Rabbatts

Chair of InSport Education, founder of Women's Sports Group

Heather has a distinguished background in sport, from being Executive Deputy Chair of Millwall FC through to becoming the first woman member of the board of The Football Association. Heather is the chair of Vero, the strategic communications business famed for its work on successful Olympic and major event bidding and founder of the Women's Sports Group, a new agency designed to create opportunities to enhance women's sport. Heather is also chair of InSport Education and an Ambassador for Women in Football.

James Davies-Yandle

Founder of Y11 Sport & Media

James has a B.Sc. Degree in Sports Science from Loughborough University and a certificate in Macro Economics from the London Business School. James commenced his business career in investment banking with the Royal Bank of Canada. His investment experience and passion for sport, led him to join Athletes1 in 2004, concentrating on the management of international rugby players. In 2006 he moved to Pro Sports International in London, specialising in superstar rugby and football player representation and commercial advisory with professional football and rugby clubs. In 2008 James set up his own sports agency, Y11 Sports, in Dubai, most notably consulting on many of Dubai sport assets and their commercial strategies and programmes in football and golf. In 2014 James built multiple sport properties with strategic partners and founded Y11 Sport & Media Limited in 2018.

Matt Rogan

Founder of Matt Rogan Sport, co-founder of Two Circles, non-executive director of the English of Sport, author and advisorInstitute ,

Matt has spent his career creating and scaling businesses in the sports and entertainment arena, as well as actively engaging in the wider sports industry. His early career was spent at a Bain / McKinsey spin-out consultancy, thereafter leading international P&Ls at MTV and NBA before running a growing management consultancy. In 2011 Matt co-founded Two Circles, leading the business as Chief Executive and thereafter Executive Chairman of the WPP subsidiary Board. In that period the business grew to 250 people, servicing 100 clients including the six biggest sports rights holders in the world by revenue and integrated several other WPP units. Bruin Capital purchased the business from WPP in March 2020. Currently Matt is a Non Executive Director of the English Institute of Sport, Strategic Advisor for several businesses including SportsPro Media and a member of the UK Sport Major Events Panel. Matt is a regular commentator on the business of sport and has published two successful books: 'The CEO Playbook' in partnership with SportsPro Media, and 'All to Play For: How Sport Can Reboot Our Future'.

Lord Colin Moynihan

Former UK Minister for Sport, senior advisor for InSport Education

Lord Colin Moynihan is a former UK Minister for Sport and Chairman of the British Olympic Association. He is an Olympic silver medallist and currently sits in the House of Lords, and is a member of the All-Party Parliamentary Committee on Sport, Modern Slavery and Human Rights. He is also a member of the International Olympic Committee’s Commission for Public Affairs and Social Development through Sport. Colin is also Non-Executive Chairman of Buckthorn Partners, and a Senior Advisor to InSport Education.

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