David Levy To Advise Private Equity Firm Arctos

Former Turner Sports President David Levy told THE DAILY that he has accepted a role as a senior advisor to Arctos, a private equity firm that is looking to buy small stakes in professional sports teams. Levy will keep his role as an advisor to the Raine Group. Levy said the two roles do not overlap. Levy’s role at Arctos will see the well-known exec use his relationships throughout the sports business to find teams looking to sell a small, minority stake. Some owners are looking for cash infusions during this time when sports have been put on hold. Arctos’ main pitch is that it will be a passive investor -- it is not seeking voting rights. Sportico was first to report this news.