When buying a sports team, the hard numbers are pertinent to business investment but the sums don’t necessarily stack up.
It’s typically a one-shot opportunity and the key is being prepared to outbid everyone in the room, says Milwaukee Bucks Co-Owner Jamie Dinan, who was a part of the group that bought the Bucks in 2014 for a fee of $550 million.
That was reportedly more than 50-times higher than the team’s income at the time, but, as Dinan, explains, it was an investment underpinned by a long-term mindset. And the increase in the team’s value seems to be paying off on the court with the Bucks currently sitting at the top of the NBA’s Eastern Conference.
In this edition of 5 Minutes with Leaders, recorded behind the scenes at The Sport Business Summit during Leaders Week New York in May last year, Dinan explains:
- The purpose of buying an NBA franchise;
- The ROI should he decide to cash out on the investment;
- The opportunities ahead for sports betting in the US;
- And what would catch his eye for future potential investment.
- 5 Minutes with Leaders: Claire Cronin
- 5 Minutes with Leaders: Nuria Tarre
- 5 Minutes with Leaders: Alex Williamson
- 5 Minutes with Leaders: Billy Beane
Jamie Dinan speaking alongside fellow Co-Owner Marc Lasry at The Sport Business Summit, during Leaders Week New York 2018.
Leaders Week New York
20 - 23 May 2019