Dave Checketts, The Cynosure Group Launch Sports Venture
Veteran sports executive Dave Checketts has partnered with The Cynosure Group to form Cynosure | Checketts Sports Capital, an investment venture targeting the booming sports industry. The partnership aims to raise $1.2 billion for its first fund, with investments spanning professional and collegiate sports teams, leagues, facilities, technology firms, and media rights.
Checketts brings four decades of sports management experience to the partnership. He has held prominent leadership positions, including president of the Utah Jazz, New York Knicks, and Madison Square Garden. Additionally, Checketts has owned sports franchises such as the St. Louis Blues hockey team and the Real Salt Lake soccer team.
The Cynosure Group, founded in 2013, manages billions of dollars for family offices, university endowments, and institutional investors. Backed by the influential Eccles family—a Salt Lake City dynasty founded by businessman David Eccles—the firm recently garnered attention for being selected by the University of Utah to provide Outsourced Chief Investment Officer (OCIO) services.
The launch of Cynosure | Checketts Sports Capital reflects a broader trend of alternative investment firms entering the sports sector. Notable recent transactions include Silver Lake’s $25 billion acquisition of Endeavor Group Holdings and a $6.1 billion purchase of the Boston Celtics by a consortium featuring Sixth Street Partners. Additionally, specialized platforms like Arctos Partners have emerged, taking advantage of U.S. sports leagues’ recent decisions to permit partial franchise acquisitions by private capital firms.
“By partnering with Dave Checketts, whose expertise in building value across multiple sports properties is unmatched, we are positioning ourselves to capitalize on the most compelling opportunities in this dynamic market,” said Randal Quarles, chairman of The Cynosure Group and former vice chair of the Federal Reserve.
