Goldman Sachs is about to acquire a majority stake in Excel Sports Management, the sports talent agency representing Tiger Woods, Caitlin Clark and Derek Jeter, in a deal which is expected to value the agency at around US$1 billion (A$1.54 billion).
Plans by the investment bank’s asset management arm to buy Excel from entertainment-focused private equity group Shamrock Capital and its management team are expected to be announced as soon as next week, according to the Financial Times.
In an attempt to bolster its growth from fee-based private investments, Goldman’s asset management division has been expanding quickly in mid-sized corporate buyouts and private loans.
In 2023, Goldman Sachs launched a global sports franchise division within its investment banking unit to link clients with opportunities in sports teams, stadium projects, and leagues, while also expanding its sports financing services.
Earlier this month, Goldman Sachs Asset Management struck a deal to acquire venture capital firm Industry Ventures for nearly $1 billion.
Founded in 2002 by Jeff Schwartz, New York-based Excel Sports Management is a full-service agency providing management and marketing representation for athletes across basketball, baseball, golf, and football.
It’s understood that Excel’s potential majority sale to Goldman’s coincides with comes amid surging player contracts and endorsement values that have elevated revenue for agencies that are paid a percentage of their clients’ deals.
Over the last two decades, Excel has gone from being a niche basketball agency to one of the most formidable global talent powerhouses, challenging the dominance of rivals such as Creative Artists Agency and Endeavor.
The rising valuation of sports franchises, as well as the broader industry, has attracted the attention of sophisticated global investors, including banks and private equity managers in recent years.
Thanks to booming media rights and sports betting, global sports revenue is projected by McKinsey to surpass $800 billion by 2030.
In 2023, TPG sold CAA to the family office of French billionaire François-Henri Pinault for $7 billion, and earlier this year, Silver Lake completed its $13 billion private takeover of Endeavor.
Capitalising on pent-up demand for large-scale deals, mergers and acquisitions rebounded strongly in the third quarter of 2025, with corporate leaders moving beyond concerns over trade policy.
According to Dealogic data, global mega-deals reached $1.26 trillion between July and September — a 40% year-on-year increase and the second-highest total for a third quarter on record.
Other major U.S. banks, including JPMorgan Chase, have similarly increased their involvement in the sports business, aiming to leverage the rapidly growing financial ecosystem surrounding professional athletics.
