Former NFL stars John Elway, Tim Tebow, and Blake Bortles have joined forces with Chick-fil-A chief executive Andrew Cathy and Magnolia Hill Partners to launch Momentous Sports, a new investment firm targeting sports and real estate, according to a report by Bloomberg.

The venture will focus on acquiring stakes in professional sports teams and investing in the broader real estate ecosystem surrounding them, including stadiums, retail, housing, and public spaces. “A lot of folks are out there investing in one or the other. We said we want to be in both,” said Marley Hughes, CEO of Magnolia Hill and founder of Momentous.

Momentous is starting with middle-market US opportunities such as soccer, minor league baseball, and minor league hockey. Discussions are underway with the NBA and MLB on potential stadium projects. Its first flagship initiative is Sporting Jax, a new professional men’s and women’s soccer club in Jacksonville, Florida. Once the stadium is completed, Momentous will lead the development of mixed-use real estate around the venue.

Andrew Cathy is investing through his private real estate vehicle Four Stones, which owns properties across the Sun Belt. Hughes said the firm also sees potential in European soccer, where legacy clubs often control underutilised land around stadiums that could be redeveloped.

Sports franchise values have surged on the back of multi-billion-dollar media rights deals and new stadium investments. Momentous Sports plans to capitalise on these trends by pairing ownership in teams with real estate development opportunities.

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