Why Sports Franchise Owners Need ‘Defensive Capital’
New money is pouring into sports from Wall Street and beyond, and veteran executive George Pyne says team owners need to get ready—or get swallowed up.
“If someone’s coming in with capital that’s going to disrupt my sport, what am I going to do about it?” Pyne, the founder and chief executive of Bruin Capital says on the latest episode of The Deal with Alex Rodriguez and Jason Kelly. “If I’m running a sports team or I’m running a league or an organization, I need a capital plan to differentiate myself from my competitor, and I also need a defensive capital plan.”
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