Barclays Center for sale Citi’s Rick Perna joins Park Lane Falcons deal likely up to BofA, SunTrust TV money up 20 percent for NFL clubs Future bodes well for Packers’ income Clippers scenarios have yet to play out Talk in Buffalo centers on staying home Franchise values: Which price is right? USTA closing out $450M bond sale Tennis VIPs invest in performance tech
Upcoming Conferences and Events
SBJ/July 26 - August 1, 2004/Finance
Falconhead sells Golf Warehouse for $32 million
Published July 26, 2004
Sports buyout fund Falconhead Capital sold the Golf Warehouse for $32 million, more than five times the fund’s initial investment, wiping away losses the investor had suffered from previous Internet-related purchases. The Sportsman’s Guide bought the online golf retailer.
The only fund to invest exclusively in the sports and leisure sector, Falconhead bought the Golf Warehouse in late 1999 and helped make it one of the few online sporting goods retailers to turn a profit.
Falconhead began in 1998 as IMG/Chase Sports Capital. In 2000 Chase Manhattan Bank, which had pushed many of the Internet choices, departed, leaving investment control to Moross. Sports marketing power IMG remains a general partner, and two of its executives, Bob Kain and Barry Frank, are on the 18-member advisory board.
Falconhead owns a part of ESPN Classic Sport in Europe, as well as a spa business and maritime telecommunications network.
The fund’s vision has evolved since its inception from one that targeted sports almost entirely to one that now more broadly includes media and leisure.