- Elevate has strategic partnerships with OVG and Live Nation
- Clients include NHL, NCAA, USTA and EuroLeague
- Arctos has already invested in NBA, NHL and MLS franchises
Private equity firm Arctos Sports Partners is in advanced talks to take a minority stake in the Elevate Sports Ventures consultancy, according to Sportico.
The investment will see Arctos join Harris Blitzer Sports & Entertainment (HSBE), the National Football League’s (NFL) San Francisco 49ers and the CAA Sports agency as investors in Elevate. The trio established the sports consultancy firm in 2018, which has held strategic partnerships with venue development company Oak View Group (OVG) and entertainment firm Live Nation since June of that year.
Elevate currently offers expertise across hospitality sales, naming rights deals, brand consulting, business analytics and sponsorship sales, among other services. Its clients include the National Hockey League (NHL), the National Collegiate Athletic Association (NCAA), the United States Tennis Association (USTA), and EuroLeague.
The deal would see Arctos add to its rapidly expanding sports investment portfolio. The firm has minority stakes in the National Basketball Association’s (NBA) Golden State Warriors and Sacramento Kings, as well as the NHL’s Tampa Bay Lightning and Minnesota Wild. Arctos also has a minority stake in Fenway Sports Group (FSG), is a limited partner of Major League Soccer’s (MLS) Real Salt Lake, and was part of the Premier Lacrosse League’s (PLL) funding round in June.
Arctos, which is led by Ian Charles and David O’Connor (pictured above), had about US$2.9 billion in assets under management as of October, according to Sportico.