14 FINANCING AND THE RISE IN PRIVATE EQUITY IN PROFESSIONAL TEAM SPORTS
Private equity is an alternative form of private financing, away from public markets, in which funds and investors directly invest in companies or engage in buyouts of such companies. Private equity firms make money by charging management and performance fees from investors in a fund, driving performance improvement through board and governance influence. In sport, this can manifest itself as new competition formats, cost control, and expansion into new commercial revenue streams. It also provides easy access to alternate forms of capital for entrepreneurs and company founders and less stress of quarterly performance. Private equity can take ...
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