RedBird Capital Partners and International Media Announcements have invested in Front Office Sports (FOS), it has been officially announced.
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As a statement on Front Office Sports confirms, they have received a’ strategic investment’ from RedBird IMI, a joint venture between RedBird Capital Partners and International Media Investments focused on building high-growth companies in media, entertainment and sports.
FOS describe themselves as the ‘category leader in scale and engagement’, with an audience that delivers more than 150 million social impressions, 35 million newsletter opens, 10 million video views, and two million page views each month.
They have over 15 distribution partners, meaning their content appears on screens in more than 50,000 buildings and venues across North America, while they have advertisers such as Chevrolet, Invesco QQQ, New Balance, Cisco, PwC, FanDuel, Pepsi, Wendy’s, and Prudential.
“The business of sports has become ubiquitous in recent years, permeating across all corners of culture. It now commands mainstream attention and is part of even the most casual fan’s daily content consumption,” said Adam White, Founder and CEO of Front Office Sports.
“The foundation of our company was built on a deep understanding and connection to this shift, and has long informed our editorial strategy and product development. As we enter this next stage of expansion, we are incredibly excited to partner with Jeff Zucker, one of the media industry’s greatest minds.”
Jeff Zucker, the CEO of RedBird IMI, will join the FOS board of directors as its co-chair, alongside Jason Stein, managing partner of SC Holdings.
“The team at Front Office Sports has built an impressive platform for sports business journalism, and I’m excited to help it grow in the years ahead,” said Jeff Zucker.
“Audiences are more interested than ever in the business of sports, and this investment will allow Front Office Sports to create even more compelling news content that draws people in.”
SC Holdings, FOS’ earliest investor, will continue to hold a significant minority stake in the business.
“Front Office Sports has become a clear leader and important voice in the growing sports media landscape. We were an early believer in their approach to covering sports in a way that would influence business leaders and inform fans,” said Jason Stein, founder of SC Holdings.
“This credibility with highly coveted audiences will continue to separate them as they expand the business.”
RedBird IMI is a joint venture between RedBird Capital Partners – a New York based private-equity firm founded and led by Gerry Cardinale – and International Media Investments (IMI), a global media company based in Abu Dhabi.
RedBird IMI is focused on investing in premier companies across news, media, entertainment, sports and live event verticals. Cardinale spoke recently with the New York Post about RedBird’s vision in sport and how they want to move forward, with Milan no doubt factoring into all the strategy.
