Monumental Sports & Entertainment has added Arctos Partners as a minority investor, strengthening its ownership group as it pursues long-term growth and innovation.

The Washington-based sports and media group also said Qatar Investment Authority has increased its existing stake. Financial terms were not disclosed.

Ted Leonsis, founder and chief executive of Monumental, said: “We’ve made a long-term commitment to Washington, DC focused on building a true sports ecosystem.”

Arctos specialises in providing growth capital to professional sports franchises. The firm is approved to hold equity across all five major North American sports leagues.

Monumental owns the Washington Capitals, Wizards, and Mystics, alongside Capital One Arena and Monumental Sports Network. It is leading an $800m redevelopment of the arena district.

QIA said the expanded investment reflects confidence in the long-term commercialisation of professional sports.

If you think we missed any important news, please do not hesitate to contact us at [email protected].

Can`t stop reading? Read more.