Bruin Sports Capital received a $600 million investment from two firms, the Jordan Company and CVC Capital Partners, that should allow George Pyne’s four-year-old firm to significantly grow its portfolio, which currently includes six investments.
Dent in the Armour
Under Armour just can’t find any traction. Just two weeks after Kevin Plank announced he was handing CEO duties to Patrik Frisk, which was well received by analysts, the company revealed that its accounting practices have been under investigation by the Justice Department and the SEC since July 2017. The news only became public last week, and the questions will cloud UA’s short- and long-term future.
Madison Square Garden announced in an SEC filing that it was “pursuing a revised plan for the proposed separation of its sports and entertainment businesses.” The transaction would not take effect until next year, but MSG CEO James Dolan has been under pressure to boost the value of the Knicks and the Rangers.