There’s a new sports investment firm on the block.
Former WWE co-presidents George Barrios and Michelle Wilson, partnering with 10-time NBA All-Star Carmelo Anthony, announced they will launch a firm called Isos7 Sports Investments.
“We have a shared vision for how a new wave of diverse investors will identify global growth opportunities and impact the marketplace,” said Barrios and Wilson.
Of the $750 million of expected fresh capital, the firm hopes to provide between $50-$100 million per investment to a global list of sports entities, from leagues to teams.
The firm will also donate 1% of profits “to support underrepresented populations and underserved communities.”
Barrios and Wilson previously founded Isos Capital Management.
A Seasoned Pro
Anthony is no stranger to investing.
He co-founded a company called Melo7 Tech Partners with media bigwig Stuart Goldfarb in 2014. Major sports companies from Overtime to DraftKings have benefited from the company’s capital.
“I’m excited to build on my experiences as an athlete, entrepreneur, and investor, and move to the next level of league and team ownership opportunities globally,” Anthony said of the new venture.