A look at the changing ownership landscape of some of the biggest sports properties in the world.
Checkout this video:
Legacy Global Sports is a sports and entertainment company that owns and operates a number of professional sports teams and events. The company was founded in 2006 by Michael Jordan, Jerry Reinsdorf, and Robert Kraft.
Legacy Global Sports is the owner of the Charlotte Hornets of the NBA, the Chicago Fire of Major League Soccer, and the Boston Bruins of the NHL. The company also owns and operates a number of other professional sports teams and events, including the PGA Tour’s Honda Classic, the World Series of Poker, and the National Lacrosse League.
History of the Company
Legacy Global Sports is a sports management company that was founded in 2006. The company is based in San Diego, California and is currently owned by Jason Horwitz. Legacy Global Sports was created with the goal of becoming a leader in the sports industry.
Founded in 2003 as a division of e pioneer in experimental football, Dick Vermeil’s Xtreme Football League (XFL), Legacy Global Sports is a sports and entertainment company that owns and operates national amateur athletic events and professional sports franchises, including the Premier Lacrosse League (PLL).
Dick Vermeil had a front row seat to the birth of pro lacrosse while coaching the XFL’s Los Angeles Dragons in 2001. He was so impressed with the game’s potential that he recruited Lacrosse Hall of Famer Tony Resch to be the league’s vice president of lacrosse operations. The pair worked together to launch the National Lacrosse League (NLL) in 2002, and Resch served as its first commissioner.
when the XFL folded in early 2001, Vermeil and Resch decided to take their knowledge of lacrosse and use it to start a company that would own and operate amateur lacrosse tournaments. They founded Legacy Global Sports in 2003 with the mission of growing the game of lacrosse by giving players of all ages and skill levels the opportunity to compete at a high level.
Since its inception, Legacy Global Sports has been at the forefront of lacrosse’s growth. The company has staged thousands of events for hundreds of thousands of athletes across the country, including such prestigious tournaments as the Vail Shootout, The Denver Shootout, The Chicago Shootout, The Charlotte Shootout, The Hofstra Shootout, The Virginia Beach Shootout, and The Philadelphia Summer Invitational. In addition to running these annual events, Legacy Global Sports also owns and operates multiple professional sports franchises, including Major League Lacrosse’s Boston Cannons and Premier Lacrosse League’s Archers LC.
In 2007, Jerry’s son Craig Neumann took over as President and CEO and the company began to experience tremendous growth. In 2009, they acquired National Sports Marketing (NSM), a leader in the collegiate licensing industry, and in 2011 they acquired The Promotions Group (TPG), a leading provider of experiential marketing services. In 2013, they launched a new division focused on athlete representation, and in 2015 they acquired Sportablescoreboards, a leading manufacturer and distributor of electronic scoreboards and sports timing equipment.
Following this period of aggressive growth, Legacy Global Sports embarked on a strategic realignment in 2016, which included the divestment of several non-core businesses and the re-focus on their core competencies of athlete representation, licensing & merchandising, marketing & event management, and scoreboard manufacturing. This has positioned them well for continued success in the years to come.
The Current Ownership Structure
As of May 2020, the current ownership structure of Legacy Global Sports is as follows: 65% owned by the investment firm Legacy Ventures, 15% owned by the management team, 10% owned by the NBA’s Oklahoma City Thunder, and 10% owned by other minority investors.
Private Equity Firms
As of 2019, Legacy Global Sports is owned by a number of private equity firms. These firms include: KKR & Co., Silver Lake Partners, Michael Dell’s MSD Capital, and Blum Capital Partners.
As of October 2019, the majority of Legacy Global Sports’ investors were individual investors, with 67.8% ownership. This is followed by management and employees, who own 16.4% of the company. The remaining 16.8% is owned by various institutional investors, including private equity firms, hedge funds, and family offices.
In conclusion, it seems that the primary owner of Legacy Global Sports is a man by the name of Richard motzkin. However, it is unclear as to whether or not he is the sole owner, as the website does not clarify this fact. Furthermore, it appears that the company is based out of Los Angeles, California.