Partnership includes substantial financial investment with goal of bringing a third professional franchise to the state and the opportunity to build out Utah sports and entertainment
SALT LAKE CITY, August 19, 2022--(BUSINESS WIRE)--Smith Entertainment Group (SEG) today announced a partnership with Arctos Sports Partners (Arctos) to invest in the greater Utah sports and business community. Arctos is a private investment platform focused on professional sports franchises in North American leagues and European Soccer. SEG and Arctos are bullish on the Utah sports and entertainment market and are aligned in their commitment to the State of Utah, which includes a focus on SEG’s expansion plans, its intention to bring a third professional sports franchise to the state, and its goal to build Utah as a premier sports and entertainment center.
The Arctos partnership includes minority investment across multiple SEG properties, including Real Salt Lake, the Utah Jazz (pending board of governors approval), and Vivint Arena. Previously, Arctos has invested in over 20 professional sports groups and franchises and was the first firm of its kind to invest across MLB, MLS, NHL and NBA. Its investments include Fenway Sports Group, Chicago Cubs, Golden State Warriors, and Los Angeles Dodgers.
"My wife Ashley and I are passionate about the state of Utah and are committed to building organizations that can be a unifying force in our community. Few things do that as powerfully as sports," said Ryan Smith, chairman of Smith Entertainment Group. "We are excited to partner with Arctos. They are committed to Utah and to investing in this community and our sports teams and facilities. As SEG continues to build out the professional sports landscape in the state, the Arctos partnership brings strong commitment to Utah sports and a deep connection across all major sports leagues."
Arctos’ partner franchises are able to leverage the deep industry knowledge and operational expertise of the firm’s 30+ investment and sports business professionals as well as the firm’s senior advisors to help drive additional value.
"We believe in Utah and all the amazing things happening in the state and we believe SEG is poised to be the next big sports and entertainment group. Ryan Smith has an eye for opportunity and innovation, and we look forward to supporting his vision for Smith Entertainment Group and Utah sports fans," said Chad Hutchinson, partner of Arctos Sports Partners. "Arctos works with visionary ownership groups, and Utah has that in SEG. Their commitment to giving back to the community and building world-class franchises align perfectly with Arctos’ mission. We are excited to work with Ryan and the team to explore more sports-related opportunities around the state and the opportunity to build a premier sports and entertainment center here."
SEG led the purchase of the Utah Jazz in December 2020 and invested in Real Salt Lake in January 2022. Since that time SEG and its sports franchises have invested deeply in the community, including providing over 100 full cost-of-attendance scholarships for students in financial need from an underrepresented group for every Utah Jazz win during the past two seasons.
Smith Entertainment Group (SEG) is a sports, technology and entertainment investment group focused primarily on the state of Utah. SEG’s portfolio includes the Utah Jazz (NBA), Real Salt Lake (MLS), Vivint Arena, Rio Tinto Stadium, the Salt Lake City Stars (NBA G League), Utah Jazz Gaming (NBA 2K League), Real Monarchs (MLS NEXT Pro), management of the Salt Lake Bees, the Zone Sports Radio Network, and other Utah-centric business ventures.
Arctos Sports Partners works with innovative and visionary ownership groups and leagues across North American professional sports and European soccer. Arctos has a team of more than 30 investment and operational professionals with offices in Dallas and New York. In addition to liquidity solutions and growth capital, Arctos’ portfolio franchises are able to leverage the deep industry knowledge and operational expertise of the firm’s senior advisors, including Theo Epstein, to help drive additional value. To date, Arctos has invested in more than two dozen sports franchises and adjacent businesses and is poised to capitalize on expanding investment opportunities across the industry.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220819005346/en/
For Media Inquiries: