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Money Ball: 8 Hedge Fund Managers Who Own Pro Sports Teams

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Money Ball: 8 Hedge Fund Managers Who Own Pro Sports Teams

Hedge fund billionaire Steve Cohen, CEO of Point72 Asset Management, is in talks to boost his ownership in the New York Mets baseball team to a majority stake, perhaps bringing more of a Wall Street vibe to the team out in Queens.

If the deal is completed and Cohen becomes the main owner in five years as is being discussed, he won't be the only hedge fund guy making a money play in the sports big leagues.

Here's a look at a few other hedge fund guys who have gotten the sports bug.

See Also: Steve Cohen To Buy Majority Stake Of The New York Mets

David Tepper

The founder and president of Miami-based Appaloosa Management, Tepper also owns the Carolina Panthers of the NFL, which he bought last year.

Tepper grew up in Pittsburgh and before buying the Panthers owned a share of the Pittsburgh Steelers.

John Henry

Henry is best known as the Boston Red Sox owner whose team finally broke the "Curse of the Bambino" and won a World Series in 2004, the club's first in 86 years. Henry was an early believer in sabermetrics, the money-ball analytics that have revolutionized baseball in the last decade, and his Sox have now won four World Series titles.

Henry is also principal owner owner of one of the biggest soccer clubs in the world, reigning Champions League title holders Liverpool in the English Premier League.

Henry, the son of soybean farmers, started out trading corn and soybean futures, and established John W. Henry & Co., though the hedge fund stopped managing clients' money in 2012.

Jim Pallotta

A one-time partner of the hedge fund pioneer Paul Tudor Jones, Pallotta ran the Raptor Global fund from 1993 to 2009 before forming a new investment fund called Raptor Group.

Pallotta is also part owner of the Boston Celtics of the NBA, and co-owner and chairman of iconic Italian soccer club A.S. Roma. He's also co-owner of the esports franchise Fnatic.

Wes Edens, Marc Lasry And Jamie Dinan

Lasry, Edens and Dinan are among a group of co-owners of the NBA's Milwaukee Bucks.

Lasry is co-founder and CEO of Avenue Capital Group and Dinan founded York Capital Management. Edens, who also is majority shareholder of English Premier League team Aston Villa, co-founded hedge fund firm Fortress Investment Group.

Jeffrey Vinik

Former Magellan Fund manager Vinik started the hedge fund Vinik Asset Management in the mid-1990s and closed it down in 2013. Vinik has owned the NHL's Tampa Bay Lightning since 2010.

Robert Citrone

The billionaire hedge fund manager and co-founder of Discovery Capital Management is a minority owner of the Pittsburgh Steelers.

David Abrams, Paul Leff And Daniel Goldring

Abrams, Leff and Goldring bought a 20% interest in the Oakland Raiders back in 2007. Abrams heads Boston-based hedge fund Abrams Capital Management, Leff co-founded Perry Capital in 1988 and Goldring was a Perry managing director.

Philip Falcone

Falcone is the founder of Harbinger Capital, but before his Wall Street career he was a college hockey standout at Harvard and played professionally briefly in Sweden.

Falcone bought a 40% stake of the NHL's Minnesota Wild in 2008.

Photo credit: Alicia Porter, Flickr. John Henry pictured waving to the crowd after the Red Sox 2013 World Series parade.

Posted-In: Boston Red Sox Citron Research David TepperShort Sellers Hedge Funds Sports Top Stories General Best of Benzinga

 

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