Legends continued its expansion outside its core hospitality and experiences business with the acquisition of analytics-focused 4Front.
Mike Tomon, co-president and COO of Legends, confirmed to Front Office Sports that the deal was finalized this week, while declining to provide financial terms. The total value of the deal was between $15 million to $20 million, one source with knowledge of the deal told FOS.
4Front began as PCG, founded by Dan Migala and Josh Kritzler in 2007, and was rebranded in 2018. 4Front expertise has been called upon by the UFC, the Chicago Bears, and Ilitch Sports + Entertainment.
4Front will remain a separate brand operated under Legend’s global technologies solutions division. Migala, a former San Diego Padres executive, will become CRO of the division, while Kritzler will be the COO. Both will also have co-president titles.
Sixth Street investment
Legends began as a joint venture between Yankee Global Enterprises, an affiliate of the New York Yankees, and Dallas Cowboys owner Jerry Jones. This latest deal comes a year after Sixth Street purchased 51% stake in the company.
Legends was valued at $1.35 billion at the time of the deal last January.
Tomon said Legends remains in “rapid growth mode.”
“The unique piece with Sixth Street is that they have the ability to take a long-term view,” Tomon said.