• Loading stock data...
Saturday, July 20, 2024
Join us this September for Tuned In Request to Attend

Influential Sports Dealmaker Raises $760 Million in New Money

  • New York-based The Raine Group now has $4 billion in assets under management
  • Firm has backed many leading sports entities
Chelsea-FC
Chelsea FC

One of the foremost behind-the-scenes investors and dealmakers in sports just got a big pot of new money for more large-scale activity.

The Raine Group — a backer of major entities such as DraftKings, Premier Lacrosse League, and TelevisaUnivision, and a broker on record-setting team sales such as Chelsea FC — has closed on a new, $760 million fund focused on growth-stage companies in sports, media, entertainment, and gaming.

Raine Partners IV was developed from a variety of institutional investors — including undisclosed public pension plans, sovereign wealth funds, and family offices —  and gives the New York-based Raine nearly $4 billion in assets under management.

“We appreciate this vote of confidence from our limited partners, and we look forward to building on our firm’s strong track record,” said Sherri Williams, Raine partner and head of investor relations and fundraising.

The first investment from Raine Partners IV is in Tripledot Studios, a London-based mobile games developer boasting about 50 million monthly active users across its suite of products.

Raine also played a key role in brokering Endeavor’s $9.3 billion takeover of WWE and is leading the long-running sale process for Manchester United, which also could set another industry record.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

An artistic rendering of the new proposed Everton stadium in Liverpool.

Déjà Vu: Everton Loses Takeover Bid From U.S. Investor

The Premier League club is back on the hunt for a new owner.

A ‘Seismic Shift’ for Women’s Sports: WNBA Lands $2.2 Billion Rights Deal

ESPN, Amazon, and NBC will pay the WNBA $200 million annually.

Braves’ Bold Plans, Political Backdrop Shape All-Star Game Prep

The Braves plan a series of upgrades to Truist Park while looking to avoid dwelling on state politics.

Manfred ‘Comfortable’ With A’s Move to Vegas Despite Funding Hurdles

Rob Manfred continues to back A’s owner John Fisher, even as concerns grow in Las Vegas and Sacramento.
podcast thumbnail mobile
Front Office Sports Today

‘EA Sports College Football 25’: It’s More Than a Game

0:00

Featured Today

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Apr 15, 2024; Brooklyn, NY, USA; Caitlin Clark poses with WNBA commissioner Cathy Engelbert after being selected with the number one overall pick to the Indiana Fever during the 2024 WNBA Draft at the Brooklyn Academy of Music.
July 16, 2024

Women’s Sports Merch Is a $4 Billion Market, but Supply Isn’t Meeting Demand

Retailers can’t make women’s sports apparel fast enough.
Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.

Caleb Williams’s Contract Requests Could Have Changed the NFL

Williams asked for several unusual clauses and tax dodges.
July 2, 2024

NBA and NHL Free Agency: Billions in New Deals Despite Economic Unrest

Rising revenues and salary caps are helping fuel a run of historic contracts.
July 17, 2024

Angel City FC Sale Official at Record $250 Million Valuation

Disney CEO Bob Iger and wife Willow Bay now control the club.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
July 1, 2024

Bobby Bonilla Day: A Look at MLB’s Top Deferral Deals and Ohtani’s Pact

Well beyond Bobby Bonilla, many current and former MLB stars have their own lucrative deferrals.
June 24, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

TGL will begin play in January 2025.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.