Saturday December 9, 2023

JPMorgan Earns $30.4B Amid Acquisition Spree

  • JPMorgan Chase posted strong third-quarter earnings in a year where it has racked up numerous acquisitions and investments.
  • The banks has many sports venue sponsorship deals.
Design: Alex Brooks
Copy Link
Link Copied
Link Copied

JPMorgan Chase beat expectations with $30.4 billion in third-quarter revenue, and its net income rose 24% year-over-year to $11.7 billion.

The largest consumer bank in the U.S. has leaned into acquisitions, purchasing at least 30 companies since the start of the year.

In June, the bank bought a minority stake in Kraft Analytics Group, New England Patriots owner Robert Kraft’s sports analytics company. JPMorgan had previously hired the firm when advising Alex Rodriguez on his potential acquisition of the New York Mets.

A-Rod split with the bank after he lost out to Steve Cohen, who bought the team last year for $2.4 billion. Rodriguez worked with Inner Circle Sports instead for his $1.5 billion purchase of the Minnesota Timberwolves and Lynx in April.

With $3 trillion in assets under management, JPMorgan has been an active player in sports venue sponsorship and funding.

  • It helped finance SoFi Stadium, home of the Los Angeles Rams and Chargers.
  • It has sponsorship deals with the Madison Square Garden Company, the Tampa Bay Lightning’s Amalie Arena, and tennis’ U.S. Open.
  • It holds naming rights to the Chase Center, where the Golden State Warriors have played since 2019, and the Arizona Diamondbacks’ Chase Field.

The bank was the primary financial institution backing the European Super League, having pledged to underwrite around $4 billion for the breakaway project. JPMorgan later issued a public apology for its involvement, following the league’s quick collapse.

Copy Link
Link Copied
Link Copied

What to Read

Dallas and Phoenix Fueling Demand for World Series Tickets

The average resale price for Game 1 in Dallas is over $1,200.

Arizona Is World Series Underdogs, And So Is Its Ballpark

World Series contrasts between new Globe Life Field, aging Chase Field
The flag of Israel waves in the wind above crime scene tape outside Margolin Hebrew Academy after a man armed with a handgun first tried to enter the school and then began firing his gun outside the school before fleeing in Memphis, Tenn., on Monday, July 31, 2023.

Sports World Reacts to Hamas Attack on Israel

The NBA and NFL released statements as war spread in the region.
Nick Saban highest paid college football head coach.

Who Is Highest-Paid Coach in College Football?

Saban remains atop highest-paid head coaches getting over $11 million annually.
podcast thumbnail mobile
Front Office Sports Today

Golf World in Chaos After Jon Rahm Joins LIV


Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? “AG’s Office Has Not Expressed Interest In Pursuing”

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference’s future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin’s interaction with the player behind lawsuit.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple Locations
Multiple Locations
Creative Artists Agency
Multiple Locations
The swoosh logo at Nike Eugene.

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.
June 30, 2023

Nike To Revive Kobe Signature Shoe Line

Late HOFer will again be the center of a signature shoe line.
The PGA Tour and PIF have a self-imposed Dec. 31 deadline to finalize their golf merger.
August 7, 2023

Saudi Arabia’s PIF Aims Higher With Launch of Sports-Focused Investment Company

The PIF has launched a new company, SRJ Sports Investments.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
At Dick's Sporting Goods in Fairless Hills, Store Administrative Assistant Christine Vandfermay, of Philadelphia, restocks some Philadelphia Eagles items.
May 23, 2023

Dick’s Sporting Goods Sees Modest Growth, Less Foot Traffic

Dick’s Sporting Goods saw a 5.3% increase in net sales in Q1.
Hellen Obiri of Kenya crosses the finish line to win the women's division at the 2023 Boston Marathon.
May 16, 2023

On Wants More Star Power, Visibility for Next Growth Phase

On is looking to grow through tennis and other verticals.
May 11, 2023

Topgolf Callaway Lowers Sales Expectations

Callaway cut its profit forecast for this year.
May 10, 2023

Endeavor Posts Record Quarter Amid UFC-WWE Merger Plans

Endeavor bought WWE in April, it also sold its IMG for $1.25B.