The San Francisco-based company has engaged in initial discussions with potential investors regarding a new venture aimed at investing in sports teams, leagues, media rights, and associated businesses. Sources familiar with the matter, who wished to remain anonymous due to the confidential nature of the information, disclosed this information.
A spokesperson for Sixth Street declined to provide a comment.
Led by CEO Alan Waxman, the firm has made significant investments exceeding $2.5 billion in the realm of sports, primarily through its $29 billion TAO platform, which positions itself as a hub for unconventional strategies and related opportunities.
Sixth Street, managing assets surpassing $75 billion, is part of an ownership consortium for the San Antonio Spurs NBA team, alongside figures like Michael Dell and the Holt family. The company co-founded Bay FC, a National Women’s Soccer League team with investment from Sheryl Sandberg.
In 2022, Sixth Street finalized an agreement with Real Madrid, a Spanish soccer club, to acquire a stake in certain aspects of stadium operations. Additionally, it augmented its ownership in FC Barcelona’s LaLiga television rights to 25%. The company also holds a controlling interest in Legends, a sports-experience firm, in collaboration with affiliates of the Dallas Cowboys and New York Yankees. In January, it enlisted former ESPN executive Russell Wolff as a managing director. Concurrently, alternative asset managers such as Ares Management Corp., Arctos Partners, and Blue Owl Capital Inc. have established funds dedicated to sports investments, while sector-specific firms like Dynasty Equity have initiated investment activities.
