Stocks, Bonds and Spencer Dinwiddie’s $34 Million Deal

Galatioto Sports Partners founder Sal Galatioto joins Scott Soshnick, Eben Novy-Williams and Michael Barr to discuss a host of issues related to the business of sports, including his new $500 million baseball fund (only Galatioto’s lawyers told him he couldn’t talk about the fund). He did, however, discuss limited partnerships in sports and why professional sports leagues are changing their ownership rules to add liquidity to the market. Also discussed is an idea by Brooklyn Nets player Spencer Dinwiddie, who has created a financial instrument that would allow him and other professional athletes to take advantage of their earnings by securitizing their multi-million-dollar contracts. Galatioto also talks about the process of educating prospective team buyers, and why his approach is team and market specific -- not league specific -- when he seeks buying opportunities. He also talks about working with some of the early investors in sports, including the late Pistons and Lightning owner Bill Davidson and the late New York Giants owner Wellington Mara. Before founding GSP in 2005 Galatioto ran the sports and advisory group at Lehman Brothers.Hosts: Scott Soshnick, Eben Novy-Williams and Michael BarrProducer: Bob BraggSee omnystudio.com/listener for privacy information.