JPMorgan Chase has created a new sports-focused investment banking team as the Wall Street bank seeks to tap an increasingly lucrative industry, according to an internal memo seen by Reuters on Tuesday.
Top sports franchises in the U.S. and Europe are now collectively valued at more than $400 billion, according to the memo. Dealmaking in the sports industry remained robust last year despite global mergers and acquisitions volumes hitting a decade-low. Consulting giant .
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JPMorgan Appoints Heads of New Sports Investment Banking GroupJPMorgan Chase & Co. has set up a dedicated sports investment banking team as Wall Street banks battle for fees in an increasingly competitive corner of the mergers and acquisitions market.
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