Gores is buying in at an enterprise value of $4 billion, more than a 30% discount to the team’s value of $5.83 billion, according to CNBC’s 2024…
Private equity billionaire Tom Gores has agreed to pay $750 million to buy 27% of the National Football League's Los Angeles Chargers.
The deal is also subject to a"flip tax" of 10% the sale amount, with the obligation to pay falling on the seller, which will be equally divided among the other 31 teams in the league.
Gores also owns the the National Basketball Association's Detroit Pistons. The private equity founder along with this firm, Platinum Equity, bought the team for $325 million in 2011. Gores bought Platinum's stake in 2015 giving him 100% of the team's equity. Although stadium economics are an important factor in determining team valuations, when it comes to sports Gores seems to prefer being a renter rather than an operator.
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