Theo Epstein joins Arctos Sports Partners
February 2, 2021
Arctos Sports Partners, a private equity firm founded in 2019 to purchase passive stakes in professional sports franchises, has hired former pro baseball executive Theo Epstein as an executive-in-residence, as first reported by The Wall Street Journal.
It's the second recent instance of a famed executive leaving baseball to work with a private equity firm. Billy Beane of "Moneyball" fame is partnering with RedBird Capital Partners in the RedBall Acquisition SPAC, which is aiming to buy a stake in a pro sports franchise.
Epstein will reportedly advise Arctos' portfolio of teams on leadership, culture and other areas while also remaining in his current role as a consultant to MLB commissioner Rob Manfred. Epstein, 47, announced last November he was stepping down as president of baseball operations for the Chicago Cubs, concluding a nine-year run highlighted by a 2016 World Series. Before that, he won two championships as general manager of the Boston Red Sox.
Sportico reported in November that Arctos had brought in around $950 million for its debut fund, a vehicle that could raise as much as $1.8 billion, according to PE Hub. The fund is expected to buy minority stakes in professional sports teams across North America and Europe. Last week, Sportico reported that the NBA had voted to change its rules to allow private investment firms to own as much as a 20% stake in up to five different franchises, potentially opening up new targets for Arctos.
Related read: RedBird Capital teams with Billy Beane on sports SPAC
It's the second recent instance of a famed executive leaving baseball to work with a private equity firm. Billy Beane of "Moneyball" fame is partnering with RedBird Capital Partners in the RedBall Acquisition SPAC, which is aiming to buy a stake in a pro sports franchise.
Epstein will reportedly advise Arctos' portfolio of teams on leadership, culture and other areas while also remaining in his current role as a consultant to MLB commissioner Rob Manfred. Epstein, 47, announced last November he was stepping down as president of baseball operations for the Chicago Cubs, concluding a nine-year run highlighted by a 2016 World Series. Before that, he won two championships as general manager of the Boston Red Sox.
Sportico reported in November that Arctos had brought in around $950 million for its debut fund, a vehicle that could raise as much as $1.8 billion, according to PE Hub. The fund is expected to buy minority stakes in professional sports teams across North America and Europe. Last week, Sportico reported that the NBA had voted to change its rules to allow private investment firms to own as much as a 20% stake in up to five different franchises, potentially opening up new targets for Arctos.
Related read: RedBird Capital teams with Billy Beane on sports SPAC