Apollo Global Management (APO) is weighing the launch of a permanent capital vehicle dedicated to sports finance, Bloomberg reported on Friday, citing people familiar with the matter.
The company is considering a strategy that would provide long-term financing to professional sports leagues and teams, the report said.
The move would formalize the global alternative asset manager's growing interest in sports sector, which has so far included issuing loans to football clubs such as Sporting Lisbon and Nottingham Forest, and exploring transfer financing, the report added.
As part of the plan, Apollo has looked at expanding its team to support the initiative, according to Bloomberg.
Apollo Global Management did not respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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