SBJ/February 21 - 27, 2005/Finance
B of A sells one-third stake in GamePlan
Published February 21, 2005
Bank of America quietly last August sold its one-third interest in GamePlan LLC, the sports investment banking boutique. Terms were not available.
Founded in 1994 by ex-New England Patriots player Randy Vataha and Boston lawyer Bob Caporale, GamePlan is the granddaddy of what had become a potpourri of boutique firms focusing on sports financial consulting.
In 1998, Bank Boston acquired the one-third stake in GamePlan, and Vataha and Caporale moved into the bank’s offices. When BankBoston was bought by FleetFinancial, the resulting bank kept the stake.
But after Bank of America consumed Fleet in March, GamePlan and its new partner decided to part ways, and B of A sold back its stake.
Vataha said GamePlan is focused in part on capital raising for managing and limited partners of sports teams, and Bank of America in other areas. “We don’t compete at the same level,” he said.
GamePlan has moved out of Bank of America’s Boston location.
— Daniel Kaplan