by Jeroslyn JoVonn
Might 17, 2025
Williams, Cuban, and Steve Cannon, former CEO of the corporate overseeing the Falcons, have launched Harbinger Sports activities Companions Fund.
Enterprise capitalist Rashaun Williams has joined forces with two trade powerhouses to type a brand new funding group targeted on buying possession stakes in NBA, NFL, and MLB groups.
Williams, a restricted associate within the Atlanta Falcons, has teamed up with Steve Cannon, the previous CEO of the corporate overseeing the Falcons, and enterprise mogul and “Shark Tank” star Mark Cuban, a principal and present minority proprietor of the Dallas Mavericks, to launch Harbinger Sports activities Companions Fund. The brand new funding group goals to amass stakes of as much as 5% in possession alternatives throughout the NBA, NFL, and Main League Baseball, Bloomberg studies.
The partnership is available in response to hovering group valuations lately, as institutional traders more and more enter the market. In 2024, the NFL turned the latest professional league to allow institutional investments.
Williams, an early investor in corporations like Lyft Inc. and Coinbase World Inc., cites the operational experience Cuban and Cannon each convey, which pairs nicely with the fund’s deal with leagues with sturdy income. The plan is to differentiate Harbinger from different latest sports activities non-public fairness funds as rich traders search sports activities groups as high-growth belongings and never affected by fairness market fluctuations.
“My background is entering into non-public, illiquid corporations and getting out within the secondary market,” he stated.
“Our aim is so as to add perception and worth to all our sports activities investments,” Cannon stated in a press release.
Cannon’s new partnership comes one 12 months after his retirement following years of main Arthur M. Clean Sports activities and Leisure, the proprietor of the Falcons and MLS’s Atlanta United. Cannon says the partnership brings collectively uncommon sports activities experience throughout possession, group and league operations, and stadium growth.
Cuban owned the Mavericks for two, 3 years earlier than promoting his majority stake to Miriam Adelson’s household and retaining a 27% possession share. Credited for being a savvy investor, Cuban not manages the group’s each day operations and now seems to be searching for new sports activities investments after leaving “Shark Tank.”
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