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SBJ/20090817/This Week's News
Finance consultant Mitchell Ziets joins CAA’s Evolution
Published August 17, 2009
Creative Artists Agency has made its first move into sports finance, continuing a push into sports that has seen it target labor, media and marketing in recent years.
CAA finance vehicle Evolution Media Capital has hired Mitchell Ziets, who folded his consulting firm MZ Sports to take the job. He is working out of CAA’s New York office.
CAA declined to comment. Reached by phone at CAA’s Manhattan location, Ziets also declined to comment.
Ziets notified his clients and peers last week with an e-mail, a copy of which was obtained by SportsBusiness Journal.
Ziets specializes in stadium leases, financing and franchise valuation, and is expected to be joined by additional hires. Over two decades, he has provided financing counsel on more than 40 new stadiums and arenas and advised buyers on acquisitions of teams including the Los Angeles Dodgers, Cleveland Cavaliers, Anaheim Ducks and Washington Nationals.
EMC was founded by Bob Stanley upon leaving Merrill Lynch 15 months ago as head of its media and sports structured finance group. Stanley, however, has focused on media and intellectual property. Sports is a role Ziets is expected to fill.
It is unclear if CAA will raise a fund for Ziets to be able to lend with or how he will work with the CAA Sports group.
CAA does not own all of EMC, but it could not be determined who owns the rest.