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J.P. Morgan is creating a sports investment banking group that will collaborate with its investment banking, commercial banking and private bank divisions to offer clients advisory and investing opportunities.
“With top sports franchises in the U.S. and Europe now valued at more than $400 billion in total, sports have become an increasingly large asset class, attracting more and more institutional investors,” said Fred Turpin, J.P. Morgan’s global head of Media and Communications Investment Banking, announcing the news in a note to his staff.
The bank has appointed Eric Menell, the managing director and co-head of North American Media Investment Banking, and Gian Piero Sammartano, the managing director and head of EMEA Media Investment Banking, to lead the new division, Sports Investment Banking Coverage.
Menell and Sammartano will report to Turpin for global sector coverage. Sammartano will also maintain his current reporting line to Burkhard Koep, the managing director and head of Telecoms and Media at the bank.
With the sports landscape continuing to see an increase of capital from investors, the group will work in tandem with the bank’s M&A division and sports advisory practice that has worked on a broad range of recent deals, including advising Liberty Media, QIA, WWE, Juventus FC, QuintEvents, Renault Group and Sir Jim Ratcliffe on his minority acquisition of Manchester United.
J.P. Morgan also established a sports financing franchise that has led recent transactions in all major U.S. sports leagues and for many teams worldwide. This includes financing the stadiums and arenas for teams like Spain’s Real Madrid CF and FC Barcelona.
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