PitchBook partners Seattle Kraken to become sponsor of Climate Pledge Arena

PitchBook has partnered with Oak View Group and Seattle Kraken to become an Arena Partner and Suite-Level sponsor of Climate Pledge Arena.

The partnership will provide opportunities for PitchBook to continue engaging within the communities we care so deeply about. The franchise has launched a holistic partnership with YouthCare to help move the needle in the fight to end youth homelessness in our region.

“Seattle has a once-in-a-lifetime opportunity to embark on a transformational project that will revitalize a historic landmark for future generations, build a world-class sports and entertainment venue unlike any other in the world, and enhance the urban experience at Seattle Center and its surrounding neighborhoods—all at no risk to the City or to taxpayers.” – Tim Leiweke, CEO, Oak View Group

“Our vision for Seattle Kraken not only involves building a team, but also creating an organization focused on making a positive impact within this community. Sports teams have a unique opportunity to influence positive change.” – Mari Horita, VP of Community Engagement and Social Impact, Seattle Kraken

PitchBook will further become the Official Financial Data Provider of the Seattle Kraken. As the team’s exclusive financial data provider, PitchBook will support Seattle Kraken’s expansion and business development initiatives. Team owners, players, front office staff and suite owners will be able to tap into the latest market insights through the PitchBook Platform. Access to PitchBook’s data and analysis will help the franchise refine its expansion strategy, find and evaluate promising investment opportunities and better price and negotiate deals.

In a shift accelerated by the pandemic, team ownership rules in several professional sports leagues are beginning to loosen, providing significant opportunities for institutional investors to acquire stakes in teams and tap into growing valuations in the sector. We’ve already seen several examples:

-MLB announced it will allow private equity funds and other private capital groups to buy minority interests in professional baseball teams.
-Galatioto Sports Partners created a $500 million vehicle—the GSP Baseball Fund—to invest in teams.
– PE firm, Arctos Sports Partners, announced plans to raise up to $1.5 billion for a new fund to acquire stakes in pro sports teams.
– Dyal Capital Partners is believed to be raising up to $2 billion to invest in NBA franchises.
– The Straus Group is in talks to purchase the Minnesota Timberwolves.

Silver Lake, CVC Capital Partners, Bain Capital, Blackstone and Saudi Arabia’s Public Investment Fund have all either executed or been linked to deals in European soccer and rugby.

RedBird Capital is teaming up with Billy Beane on a sports SPAC, with plans to raise $500 million to deploy in the eventual acquisition of a pro sports team. The firm also partnered with Dwayne Johnson and Dany Garcia to takeover the assets of the XFL league.

An investment group led by Natalie Portman, alongside Initialized Capital, was awarded the rights to a professional women’s soccer team in Los Angeles that is scheduled to begin play in 2022.

Private equity is known for scaling private businesses and unlocking new revenue streams. Sports and entertainment present new greenfield opportunity to apply the PE playbook.

The transformational project by OVG, Seattle Kraken and Climate Pledge Arena is the most significant private investment in Pacific Northwest sports and entertainment history. We’re excited to be part of history.

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