Money
Laurene Powell Jobs exits Monumental Sports ownership completely
Laurene Powell Jobs sells her stake in Monumental Sports & Entertainment to Arctos Partners and QIA for $7.2 billion
Laurene Powell Jobs sells her stake in Monumental Sports & Entertainment to Arctos Partners and QIA for $7.2 billion
– Laurene Powell Jobs sold her stake in Monumental Sports & Entertainment to Arctos Partners and Qatar Investment Authority.
– The deal values the enterprise at £7.2 billion, ending her eight-year involvement.
Billionaire Laurene Powell Jobs has officially exited Monumental Sports & Entertainment, selling her entire stake to private equity firm Arctos Partners and the Qatar Investment Authority. The transaction values the company at $7.2 billion, ending Powell Jobs’s eight-year involvement that began in 2017.
Monumental Sports owns the NBA’s Washington Wizards, NHL’s Washington Capitals, WNBA’s Washington Mystics, Capital One Arena, and Monumental Sports Network. Arctos Partners joins as a new minority investor, while QIA increases its ownership, further solidifying its presence in U.S. sports. Ted Leonsis, founder and CEO, emphasized plans to expand the Washington, D.C. sports ecosystem and enhance fan experiences.
This deal highlights the growing influence of private equity and sovereign wealth funds in sports. Arctos Partners now holds stakes in over 25 teams, including several NBA franchises, while QIA becomes the first sovereign wealth fund to invest directly in a major U.S. sports team, leveraging NBA regulation changes.
