JPMorgan Launches Sports-Focused Investment Banking Division

164

JPMorgan Chase & Co. (JPM) has unveiled a new “Sports Investment Banking Coverage” group aimed at providing comprehensive advisory services to sports clients worldwide. The establishment of this division underscores the growing recognition of sports franchises as significant assets within the investment landscape.

Fred Turpin, Global Head of Media and Communications for Investment Banking at J.P. Morgan, highlighted the firm’s intention to leverage its diverse capabilities across Investment Banking, Commercial Banking, and the Private Bank to offer tailored solutions to sports clients. Turpin emphasized the burgeoning value of top sports franchises in the U.S. and Europe, collectively valued at over $400 billion, making them an increasingly attractive asset class for institutional investors.

The memo shared with Investopedia noted that while JPMorgan and other banks have previously advised on sports mergers and acquisitions (M&A) without dedicated sports divisions, the establishment of this specialized group reflects a strategic shift. Eric Menell and Gian Piero Sammartano have been appointed to lead the new advisory group, bringing with them extensive experience in media investment banking across North America and Europe, Middle East, and Africa (EMEA) regions, respectively.

JPMorgan’s move follows a broader trend within the investment banking industry, with Goldman Sachs Group Inc. (GS) launching a similar “sports franchise” unit last year. As the valuation of sports teams continues to soar, investment banks are keen to capitalize on opportunities within this lucrative sector, which remained resilient despite a downturn in overall M&A activity in 2023, recording over $25 billion in transactions.