WSJ News Exclusive | JPMorgan Buys Stake in Robert Kraft's Sports-Data Company

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JPMorgan is investing in New England Patriots owner Robert Kraft’s sports-data company, as the bank sees growth in sports ownership for its wealthiest clients

JPMorgan Chase & Co. has bought a stake in the analytics company that helped make New England Patriots owner Robert Kraft a sports mogul.

The unusual partnership signals the growth potential JPMorgan sees in sports ownership for its wealthiest clients. The idea is to use the heaps of data that flows from legal sports betting, mobile ticketing and concession sales, among other things, to advise clients looking to buy and owners trying to wring more profit out of their teams.

“The biggest thing we realized is everyone who buys a sports team initially, they’re very focused on the field,” said Mr. Kraft, whose team has won six Super Bowls. “Very few prioritize the business side, and this really helps to do that.” The Kraft Analytics Group, or KAGR, has more than 20 clients, including the National Football League, teams in all five major American sports leagues, and college athletic programs. JPMorgan is its first strategic investor. The parties declined to discuss the financials of the deal.

The proprietary data KAGR provides can give owners a better understanding about who their customers are and help them find other uses for their stadiums.

 

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I bet this eventually leads to a new set of really odd prop bets - o/u the number of stadium toilet flushes during halftime, greater than X% of ppl who arrived before game start, etc. DKSportsbook FDSportsbook BetMGM best_bettors

Rich men rule

I hear they're good at massaging the data

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Rich white men investing in rich white men.

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