Sports are opening the door to private equity, and Ares Management is walking in.
The Los Angeles-based investment firm with $227 billion in assets under management has invested more than $1 billion into sports teams, leagues, and media in the last six months. That sum doesn’t include Ares’ co-founder and chairman Tony Ressler’s principal ownership of the Atlanta Hawks.
This week, Atletico Madrid raised $216.9 million from Ares, which now holds a 34% stake in the LaLiga champions. That money will go in part to developing the area around the club’s stadium – a recent trend among major sports teams.
Ares was part of a consortium led by MSP Sports Capital that acquired a 15% stake in McLaren Racing as part of a $255.4 million investment. The financiers valued McLaren at $773.1 million. The stake could rise to 33% by the end of 2022.
Ares has lent an undisclosed amount to:
- The San Diego Padres
- The Ottawa Senators
- Rugby Australia
- The Professional Fighters League
The firm also provided a $100 million credit line to help Rawlings fund its acquisition of Easton Diamond Sports and acquired a minority stake in Meadowlark Media.
