Arctos Sports Partners is investing in the Utah Jazz through a deal with Smith Entertainment Group.
Pending approval from SEG’s board of governors, the agreement — which, according to NBA regulations, has to be more than 1% — gives Arctos minority stakes in several teams in SEG’s portfolio.
- SEG and David Blitzer purchased Real Salt Lake of MLS in January for a reported $400 million, with Arctos joining as a limited partner.
- SEG founder Ryan Smith purchased the Utah Jazz in October 2020 for a reported $1.66 billion. The team is now worth an estimated $1.78 billion.
The agreement, which also includes Vivint Arena, comes with the “intention to bring a third professional sports franchise” to Utah.
When SEG invested in Real Salt Lake, it gained the option to bring back the NWSL’s Utah Royals FC. Earlier this year, NWSL commissioner Jessica Berman said the league will expand to 14 teams, likely by 2024.
Arctos Is Everywhere
Arctos has investments in more than 20 professional sports groups and franchises and was reportedly the first investment firm to offer private equity funding across MLB, MLS, the NBA, and the NHL.
In the last year alone, Arctos has purchased stakes in NBA teams including Philadelphia 76ers owner Harris Blitzer Sports & Entertainment, the Golden State Warriors, and the Sacramento Kings.