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Blue Equity buys another sports company
CNBC.com
June 18, 2007
Blue Equity LLC, the Louisville-based private equity firm that has built a sports agency through acquisitions during the last year, has bought sports events company Team Championship International, according to a report by the Sports Business Journal, a sister publication to Business First.
Financial terms of the deal were not disclosed.
Jonathan Blue, chairman and managing director of Blue Equity, said the acquisition of Littleton, Colo.-based TCI would not be the firms last sports deal.
We are definitely not done, he said. We are going to continue to grow this platform.
TCI owns the Hoop It Up 3-on-3 basketball tournament, the Let It Fly 4-on-4 flag football tourney and the Kick It 3-on-3 soccer competition, which recently signed Dicks Sporting Goods as its 2007 title sponsor. TCI produces more than 125 events.
Under terms of the deal, Dan Cramer will remain CEO of TCI, and the company's operations will still be based in Littleton, according to Kendra Calvert, director of marketing for Blue Equity.
Blue Equity last year acquired the tennis, media and events divisions of SFX Sports. The company also has added football agent Joel Segal and basketball agent Bill Strickland, and it recently opened offices in Argentina and Israel.
TCIs Hoop It Up 3-on-3 basketball tournament will visit Louisville on June 30 and July 1. The event will be held on Muhammad Ali Boulevard between Sixth and Seventh streets from 9 a.m. to 5 p.m. both days. For more information, go to www.3on3basketball.com.