Theo Epstein is quickly building out his post-Cubs career — and establishing a new path for former front office executives in the process.
Two weeks after joining MLB’s Office of the Commissioner as a consultant around on-field rule changes, the decorated former GM and president of baseball operations is joining Arctos Sports Partners, a private equity firm that buys minority shares of professional clubs.
As “executive-in-residence,” Epstein will advise owners of the teams the firm has invested in on various business matters.
Epstein reportedly made in the tens of millions in his final deal with the Chicago Cubs. When he shocked the sports world by stepping down from his role with the team in November, he hinted that ownership could be in his future.
- “Being part of an ownership group is something that has always appealed to me, but it can seem so unattainable that I haven’t been really realistic about it yet,” he said.
- Team valuations are soaring, as demonstrated by Steve Cohen’s recent $2.5 billion acquisition of the New York Mets.
Arctos, founded in 2019, has already invested in Fenway Sports Group, which owns the Boston Red Sox and Liverpool FC among other sports properties.
Last week, the group ended talks to go public with Billy Beane and Gerry Cardinale-led SPAC RedBall Acquisition.