With $600 Million More to Spend, a Sports Investor Thinks Bigger
Bruin Sports Capital built its business with investments around the edges of the sports you watch. A cash infusion could make it a real player.
Bruin Sports Capital, the sports investment and management company that invests in the technologies of media, marketing and data surrounding sports, is about to get a lot more money to throw around.
On Tuesday, Bruin Sports will announce that it has raised $600 million from two even larger investors that will allow the company to expand its portfolio of investments, which already include data analytics, media and streaming companies and a fledgling drone-racing league.
The new money — from CVC Capital Partners and The Jordan Company, private equity firms that have nothing to do with Michael Jordan — is a significant infusion of cash for Bruin Sports, but it is also a validation of the investment strategy pursued by George Pyne, who made his name in NASCAR and at I.M.G. before launching Bruin in 2015.
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