Goldman Sachs nears $1 billion deal for majority stake in Excel Sports, FT reports

(Reuters) -Goldman Sachs is nearing a deal to buy a majority stake in talent agency Excel Sports Management at a valuation of about $1 billion, the Financial Times reported on Thursday, citing two people familiar with the matter. Goldman's asset management division is in late-stage talks to buy a controlling stake in the agency that represents Tiger Woods, Caitlin Clark and Derek Jeter, the report added. The deal could be announced as soon as next week. Goldman Sachs declined to comment, while Excel Sports did not immediately respond to Reuters' request for comment. Dealmaking rebounded in the third quarter of 2025 as boardrooms looked past uncertainties arising from trade policy changes and addressed the pent-up demand in mergers and acquisitions through big-ticket purchases. Global megadeals hit $1.26 trillion during the July-September quarter, up 40% from a year earlier, marking the second-largest third-quarter total on record, according to Dealogic data. Sports has traditionally been a lucrative sector for banks, with deals in the space often outperforming general market metrics. Goldman Sachs launched a global sports franchise unit within its investment banking division in 2023 to connect clients with investment opportunities in sports teams, stadiums and leagues, while also providing sports-financing services. Major U.S. banks such as peer JPMorgan Chase have also stepped up their foray into the sports sector primarily to tap into the booming financial ecosystem surrounding professional sports. New York City-based Excel Sports Management, founded in 2002 by Jeff Schwartz, is a full-service sports management and marketing agency that represents talents across basketball, baseball, golf and football. Apart from New York, Excel also has offices in cities such as Los Angeles and London. (Reporting by Pritam Biswas in Bengaluru; Editing by Anil D'Silva and Shreya Biswas)

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