Goldman Sachs nears $1 billion deal for majority stake in Excel Sports, FT reports

(Reuters) -Goldman Sachs is nearing a deal to buy a majority stake in talent agency Excel Sports at a valuation of about $1 billion, the Financial Times reported on Thursday, citing two people familiar with the matter. Goldman's asset management division is in late-stage talks to buy a controlling stake in the agency that represents Tiger Woods, Caitlin Clark and Derek Jeter, the report added. The deal could be announced as soon as next week. Goldman Sachs and Excel Sports did not immediately respond to Reuters' requests for comment. Major U.S. banks such as JPMorgan Chase have stepped up their foray into the sports sector primarily to tap into the booming financial ecosystem surrounding professional sports. (Reporting by Pritam Biswas in Bengaluru; Editing by Anil D'Silva)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)