Sports Media Report
Dave Checketts, an influential figure in global sports business, and The Cynosure Group, a diversified private investment firm founded by the Eccles family, today announced the formation of Cynosure | Checketts Sports Capital, a new strategic collaboration dedicated to investing in high-potential sports opportunities. Work has begun on identifying and implementing plans in the global sports space, with several deals already in the pipeline, and their initial fund targets commitments in excess of $1.2 billion. The partnership will have offices in both New York and Salt Lake City.
This strategic collaboration combines Checketts’ unique experience across four decades in sports management and investment, with Cynosure’s established investment expertise and financial resources. It also reunites two powerful entities who worked closely to keep the Utah Jazz of the NBA in Salt Lake City over 30 years ago, effectively jumpstarting one of the most desirable sports investment communities in the world today.
“This partnership is a dream come true for me, reuniting me with the Eccles family, who were key in keeping the Jazz in Salt Lake City, bringing the Olympic Winter Games to Utah in 2002 and building tremendous intercollegiate athletic programs in the state,” said Dave Checketts. “By joining forces today with The Cynosure Group, we are creating a powerhouse entity with assets that will make us competitive on a global scale and will give us great opportunities to help shape the future of the industry right away.”
“We have known Dave Checketts for nearly half a century, since the years when our family’s bank provided the financing for the Utah Jazz, and we’ve always admired his achievements and integrity,” added Spencer P. Eccles, managing director of the Cynosure Group. “This venture brings together Dave’s storied career in the business of sport and his remarkable team, with Cynosure’s disciplined investment process and financial horsepower. We’re confident that Cynosure | Checketts will quickly establish itself as a leading investor in this space.”
Randal Quarles, Chairman of The Cynosure Group and former Vice Chairman of the Federal Reserve, added: “Sports represents a unique asset class with tremendous growth potential. By partnering with Dave Checketts, whose expertise in building value across multiple sports properties is unmatched, we are positioning ourselves to capitalize on the most compelling opportunities in this dynamic market.”
Strategic Investment Focus
Cynosure | Checketts Sports Capital will target investments across multiple segments of the sports industry, including:
- Professional and collegiate sports teams
- Sports leagues and governing bodies
- Stadiums, arenas, and other sports facilities
- Sports technology and innovation companies
- Media rights and broadcasting ventures
