Brand Velocity Group (BVG), the investment firm, launched its sports-focused vertical, Brand Velocity Group Sports (BVGS). Joseph Cohen, chairman and CEO, West Ridge Associates, a sports and media consulting firm, will serve as chairman of BVGS.
BVG recently announced its first sports-related acquisition last month with Score Sports, a designer, manufacturer and seller of youth team sports uniforms.
A sports investment vehicle that sits within the BVG platform, BVGS will target companies in sports-adjacent categories in both legacy categories and emerging sub-verticals. BVGS will also assess investing in professional sports teams and leagues.
Alongside the core BVG team, which includes longtime sports executive and founding partner Drew Sheinman and former NFL quarterback Eli Manning, as well as founding partners Austin Ramos and Steve Lebowitz, BVGS advisors with extensive operating experience in the sports business include:
- Charles Baker, partner and co-chair, Entertainment, Sports and Media Group, Sidley Austin;
- Gerry Byrne, vice chairman, Penske Media Group;
- Richard Diamond, president, The Headline Group;
- Don Duffy, president, ICR;
- Shelly Finkel, CEO, Shelly Finkel Consulting, LLC, Boxing Hall of Fame manager;
- Carl Hirsh, managing partner, Stafford Sports;
- Bruce Lefkowitz, founder and principal, Six Pack Media, formerly executive vice president, Fox Networks Group;
- Dan Porter, CEO and co-founder, Overtime;
- Tom Ryan, co-founder, CEO, ICR;
- Michele Roberts, former executive director, National Basketball Players Association; and
- Jim Tanner, founder and president, Tandem Sports.
“I am thrilled to partner with BVG on this exciting platform at a time when the sports landscape is rapidly evolving,” said Cohen. “I have been approached by private equity firms over the years to partner and pursue various initiatives, but I found that many lacked the domain knowledge, innovative mindset and entrepreneurial approach needed in today’s environment. The diverse backgrounds of the BVGS team and our deep connectivity across the industry will serve as our competitive advantage.”
Cohen also serves on the Boards of Directors of Madison Square Garden Sports Corp. and AMC Networks.
Drawing on their decades-long relationship, Cohen and Sheinman built out the BVGS plan over the last year, seeing an opportunity to draw on their shared backgrounds, to capitalize on the shift across the sports ecosystem.
“I’ve spent my career creating value across the sports and entertainment landscape. As investors, BVGS will strive to do the same,” said Sheinman. “Leveraging our multi-disciplinary approach and the industry expertise of our team, we have a great opportunity to drive success in alignment with our philosophy of doing well by doing good. We look forward to making our mark.”
