Chicago Atlantic Admin, LLC (“Chicago Atlantic”) announced that it has served as administrative agent for the financing of a senior secured credit facility for GF Capital Sports Holdings, LLC (“GF Sports & Entertainment”). GF Sports & Entertainment owns and operates the Dallas Open, a tennis tournament recently upgraded to ATP 500 status, which will host world-class professional tennis players at Ford Center at The Star in Frisco, the Dallas Cowboys’ global headquarters and training facility, beginning in February 2025 .
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GF Sports & Entertainment owns and operates the Dallas Open, a tennis tournament that was recently upgraded to the ATP 500 category. (Photo: Business Wire)
“We see alternative sports and sports technology as high-value emerging markets that are generally inflexible to broader economic trends. Tournaments that have been upgraded from ATP 250 to ATP 500 status have historically seen rapid financial progress as they attract elite competitors and fill major venues,” said Tony Capel, co-founder of ATP 500. Chicago Atlantic: “Combined this success with GF Sports & Entertainment’s track record, we are extremely bullish on the Dallas Open and proud to be a debt partner for this growing alternative asset class.”
The increased accessibility of sports through social media and live streaming platforms has increased the efficiency with which a variety of sports can monetize their followers. This shift, coupled with improved sports management economics, has increased demand and deal flow within the asset class, with niche sports identified as a strong area of opportunity.
“Chicago Atlantic and GF Sports & Entertainment have a shared mission to seize opportunities that others ignore, and invest our talent, energy and resources in unique opportunities that deliver superior returns. We have watched Chicago Atlantic expand “The range of truly strategic partnerships across the lower middle market and we are excited to leverage their growth financing strategies during this time of unprecedented consumer demand.”
1 Standard & Poor’s Global Market Intelligence, March 2024.
About Chicago Atlantic
Chicago Atlantic is a private markets alternative investment manager focused on industries and companies where demand for capital exceeds traditional supply. Founding partners John Mazarakis, Tony Capel and Andreas Budmer founded Chicago Atlantic to provide capital solutions to state-licensed cannabis operators. The firm’s private investment strategies have grown to include opportunistic credit, private equity, digital mining and impact investing, with a focus on loans to esoteric industries, specialty asset-based loans, liquidity and growth solutions, and technology financing. Chicago Atlantic has closed more than $2.1 billion of credit facilities to date. Chicago Atlantic’s team of 85 professionals has offices in Miami, Florida and Chicago, Illinois. For more information about Chicago Atlantic financing products, visit www.chigoatlantic.com
About GF Sports & Entertainment
GF Sports & Entertainment is a live events and sports entertainment company created by New York-based private equity firm GF Capital. In addition to the Dallas Open, the company owns and operates the ATP 250 Atlanta Open (which will be held for the last time in July 2024), the National Lacrosse League (NLL) team, the Ottawa Black Bears and the World Long Drive Tour. The company produces unforgettable events, exciting competitions, unique concepts, world-class content, but above all, vibrant and enduring franchises. To learn more, visit GFsportsandentertainment.com.
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Alice M. Edgecombe
General Director of Public Relations
(419) 202 – 3988
aedgcomb@chicagoatlantic.com
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