00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Eli Manning's private equity firm, Brand Velocity Group, is acquiring RCX Sports,
00:07the company that manages youth sports licenses for the NFL, NBA, WNBA, MLS, NHL, and MLB,
00:17according to CNBC. RCX has about 150 employees and generates revenue through sports products
00:24and services for local parks and recreation centers. Financial terms were not disclosed.
00:29The deal includes athlete investors Emmett Smith, Larry Fitzgerald, and Jameis Winston.
00:35RCX programs include NFL Flag, which involves about 1 million kids globally.
00:41Manning said the goal is to expand access and keep costs low.
00:44Democratic lawmakers introduced the Let Kids Play Act last month
00:47to ban private equity from investing in what they call the $40 billion youth sports industry.
00:53For all things money, visit Benzinga.com.
Comments