Thoma Bravo managing partner Seth Boro is among a group of investors who last month acquired the Ottawa Senators, a National Hockey League team, according to people with knowledge of the matter.
(Bloomberg) — Thoma Bravo managing partner Seth Boro is among a group of investors who last month acquired the Ottawa Senators, a National Hockey League team, according to people with knowledge of the matter.
Boro, an Ottawa native, is on the board of the team, according to the firm’s website, though his ownership hasn’t been previously reported.
A representative for Thoma Bravo and Boro, who graduated from Queen’s University School of Business in Ontario, didn’t respond to requests for comment.
An entity controlled by Canadian entrepreneur Michael Andlauer in June agreed to buy a majority stake in the team, ending a monthslong auction process that drew interest from actor Ryan Reynolds and rapper Snoop Dogg, among others. The NHL’s board of governors approved the Andlauer group’s transaction in September, enabling transfer of control, the team said in a statement. At the time, Andlauer thanked his equity partners, without naming them.
Private equity titans have long favored team franchises, which are deemed a scarce asset due to the limited availability of investment opportunities. 26North’s Josh Harris this year led a group that acquired the Washington Commanders for $6 billion, a record amount for any professional sports team. Other longer-term owners including Bain Capital’s Stephen Pagliuca, who co-owns the Boston Celtics, and David Blitzer, who alongside Harris, co-owns teams including the Philadelphia 76ers and the New Jersey Devils.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.