Goldman Sachs is set to disrupt the sports and entertainment industry with the launch of a new division, Sports Franchise in Investment Banking. The initiative, announced on Wednesday, aims to provide its high-net-worth clients with investment opportunities in professional teams and other related entities.

The move is part of an industry-wide strategy to keep pace with the increasing values of sports franchises. By offering unique investment opportunities within this sector, Goldman Sachs demonstrates its commitment to diversify its offerings and cater to the evolving needs of its affluent clientele.

The new division will be led by Goldman Sachs executives Greg Carey and Dave Dase. They will oversee the provision of investment opportunities not only in sports teams but also in various other sectors within the sports and entertainment industry. This latest development underscores the financial services giant’s innovative approach to meeting the demands of their wealthy clients while keeping up with emerging trends in the industry.