Investment firm Sixth Street Partners is nearing a deal to buy a majority stake in sports-and-entertainment events company Legends Hospitality LLC, according to people familiar with the matter.
The deal, which could be announced Monday, is expected to value Legends at $1.3 billion including debt, the people said.
Formed in 2008, Legends is a joint venture of Yankee Global Enterprises, owner of major League Baseball’s New York Yankees, and Jerry Jones of the Dallas Cowboys. Minority investors include Goldman Sachs and CIC Partners.
The company, which also has divisions that focus on sponsorships, merchandise and technology, counts Real Madrid, SoFi Stadium, the University of Notre Dame, the Los Angeles Clippers and Live Nation Entertainment Inc. among its partners.
Goldman sold its stake in 2012. The remaining owners sold a significant minority stake to private-equity firm New Mountain Capital in 2017 in a deal that valued the company at more than $700 million, according to PitchBook.
Read more: Wall Street Journal