Private Equity's Weekend Review: Leading sports news in the investment sector
In a series of significant moves, the sports and golf equipment industries have witnessed some major developments.
Firstly, the Boston Celtics have been sold to a consortium led by private equity veteran Bill Chisholm for over $6.1 billion. This sale sets a new record as the highest price ever paid for a US professional sports franchise, surpassing the $6.05 billion paid for the NFL's Washington Commanders in 2023 and more than doubling the NBA's previous record of $4 billion for the Phoenix Suns. The NBA Board of Governors unanimously approved the sale, which is set to be finalized soon.
Meanwhile, in the golf equipment market, L Catterton, a consumer-focused private equity firm backed by LVMH, has acquired a majority stake in Oregon-based putter brand L.A.B. Golf for over $200 million. L.A.B. Golf, which has emerged as a disruptive force in the equipment market, was founded on the concept of "lie angle balance." The brand's distinctive putter designs are engineered to minimise torque and face manipulation during strokes, and have earned acclaim on professional tours worldwide.
The deal represents one of the largest premium golf equipment investments in decades and is a testament to L.A.B. Golf's innovative approach and market success. This acquisition is also the biggest putter acquisition since Callaway purchased Odyssey for $130 million in 1997.
Elsewhere, African private equity firm Helios Investment Partners has backed the development of a hotel and sports complex in Kigali, Rwanda, named Zaria Court. The property features 80 rooms, a 2,000-seat arena for basketball and concerts, two five-a-side football pitches, a gym and wellness centre, a sports bar, and a playground park. President Paul Kagame and Nigerian industrialist Aliko Dangote attended the July opening of Zaria Court.
The hotel is designed as a template for a planned chain of hotels and sports venues across Africa, signalling growing private equity interest in performance-focused sports and lifestyle brands. The Kigali site received support from Rwanda's government, which provided land for the project.
These transactions highlight the ongoing trend of private equity investment in the sports and golf equipment industries, with a focus on innovative brands and high-performance facilities. As these sectors continue to evolve, it will be interesting to see how these investments shape their future.
