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Jeff Moorad

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Jeff Moorad
Born
Jeffrey S. Moorad

Modesto, California, U.S.
Alma mater
Occupation(s)Sports agent, business executive, investor

Jeffrey S. Moorad is an American businessman and investor. He began his career as a sports agent, before serving as General Partner and CEO of MLB's Arizona Diamondbacks, and Vice-Chairman and CEO of MLB's San Diego Padres.

Player representation

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Moorad began specializing in athlete representation in 1983. He concentrated on Major League Baseball and signed a number of athletes, including Will Clark and four other members of the United States national baseball team in the 1984 Summer Olympics. In 1985 he partnered with Leigh Steinberg, and the two would go on to work together for eighteen years and negotiate more than $3 billion in athlete contracts.[1][2] Their firm, 'Steinberg & Moorad,' represented such athletes as Steve Young, Troy Aikman, Warren Moon, Manny Ramirez, CC Sabathia, Vernon Wells, Edgerrin James, Ed Reed, Pat Burrell, Darin Erstad, Adam Dunn, Luis Gonzalez, Orlando Hernandez, Thurman Thomas, Eric Karros, Iván Rodríguez, Mo Vaughn, Shawn Green, and Raul Mondesi, among many others.[3][4][5] 'Steinberg & Moorad' was sold in October 1999 to the Assante Corporation, a Canadian asset management firm, for a reported $120 million.[6]

Moorad was named to The Sporting News’ annual 100 Most Powerful People in Sports on eight occasions.[3]

Major League Baseball

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Arizona Diamondbacks

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In 2004, Moorad became an owner and CEO of the Arizona Diamondbacks. He owned close to 12% of the team, estimated to be worth around $18 million in 2009.[7] While with Arizona, Moorad was a General Partner, Chief Executive Officer, the spokesman for the Diamondbacks’ ownership group, and oversaw the day-to-day operations of the franchise.[3]

San Diego Padres

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In 2009, Moorad put together a group to buy the San Diego Padres from John Moores. Moorad and his group of 12 investors (including former client Troy Aikman, billionaire Chairman/CEO of Save Mart Supermarkets Bob Piccinini, and then-CEO of Panda Express Tom Davin) [8][9][10][11] began purchase of the team with Moorad serving as club CEO and Vice-Chairman. The sale was valued at about $500 million, and the group planned to purchase the team over five years.[10][12] During this time, Moorad's group also purchased the Padres' minor league Triple-A team, the Portland Beavers.[13]

In 2010, Moorad was named one of San Diego's Most Admired CEOs by the San Diego Business Journal.[14] In April 2012, Moorad negotiated a new TV deal that would lead to the creation of Fox Sports San Diego, and bring in over $1.2 billion for the Padres over the next 20 years.[15]

By 2011, Moorad had sold his 12% share of the Diamondbacks.[16][17] By January 2012, Moorad and his group held 49% ownership of the Padres, when MLB deferred voting on approval for the group to complete the sale with Moores.[18] In March 2012, Moorad withdrew the group's application to complete the full purchase of the Padres.[19][18] He stepped down as CEO of the Padres later that month, but remained with the team as Vice-Chairman.[20] Some media outlets speculated that Moorad was short of the needed support of 22 MLB team owners to complete the purchase of the Padres, though only two were suspected of opposing completion of the purchase.[19][20][21] Moores declared that the entire team was up for sale again in April, citing the good opportunity in the market after the record $2 billion sale of the Los Angeles Dodgers; Moorad's minority group would receive 49% of the proceeds of any sale of the Padres.[22] Moorad was succeeded by Ron Fowler as lead of the group of any owners transferring ownership to the new purchase.[12] In August, the Padres were sold for $800 million, a $300 million increase over the valuation in Moorad's 2009 purchase.[23]

Moorad Sports Partners

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In 2013, with partner Greg Byrnes, Moorad founded Moorad Sports Partners, an investment management company that pursues opportunities in sports-related businesses, including the purchase and management of professional sports franchises.[24][25]

PrimeSport

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In February 2015, Moorad Sports Partners, along with the Carlyle Group and RSE Ventures, acquired PrimeSport Holdings Inc., a global sports travel and events-management company.[26][24] Moorad served as PrimeSport's Chairman until its sale to On Location Experiences at the end of 2017.[24][27]

Family Circle Tennis Center

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In October 2017, Moorad Sports Partners, along with musician Darius Rucker, acquired the long-term rights to the Family Circle Tennis Center in Charleston, South Carolina.[28] The center consists of 17 courts, including the 10,200-seat Volvo Car Stadium. The center hosts concerts, outdoor events, and tennis tournaments, including the WTA Tour's Charleston Open.[28]

Morgan, Lewis, & Bockius

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In September 2017, Moorad joined global law firm Morgan, Lewis & Bockius LLP, where he serves as a partner and Chairman of the firm's global sports practice.[29] Moorad leads a team of more than 50 lawyers assisting clients on sports matters such as stadium and team finance, mergers and acquisitions, media rights, intellectual property, labor and employment, tax, litigation, retail and merchandising, antitrust regulations, and other sports business issues.[30][31]

Moorad also serves as a principal of Morgan Lewis Consulting, which helps businesses navigate through complex regulatory and legal issues in the U.S. and abroad.[29][32]

MSP Sports Capital

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In 2019, Moorad along with partners Jahm Najafi, Arne Rees, and Steve Wasserman, formed MSP Sports Capital, a sports investment company with targeted equity and debt investments in properties at the intersection of sports, global media rights, distribution technologies, content creation, sponsorship, esports, betting, and data.[33][34][35] MSP is headquartered in New York City.[36]

In July 2019, MSP partnered with David Blitzer and Blitz Capital to acquire G.D. Estoril Praia, a Portuguese football club in Estoril, Cascais.[34][37][38] Later that year, in September, MSP partnered with Blitz Capital and former Real Madrid executive Ivan Bravo to acquire AD Alcorcón, a Spanish football club based in Madrid.[39][40]

In 2020, MSP bought a "significant" minority stake in the McLaren Racing team, with Moorad being named to its board of directors.[41][42]

In October 2022, MSP acquired a majority stake in the X Games from The Walt Disney Company.[43] The MSP investors include skateboarding legend Tony Hawk, who will serve as a brand steward and join the action sports league’s advisory board. ESPN retained a minority interest in the company, and will serve as the X Games domestic linear broadcast partner as part of a multi-year agreement.[44]

Other business

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In 1993, Moorad and Steinberg were part of a group that founded Integrated Sports International, which consulted with teams, venues, and corporations on their sports sponsorship and marketing initiatives.[45][46] ISI also represented athletes and coaches for marketing and broadcasting opportunities. ISI was sold to SFX Entertainment in 1999.[47]

In 1998, Moorad and Steinberg, along with their head of media and investment initiatives, Tyler Goldman, founded Athlete Direct.[46] Athlete Direct managed the official websites and social media platforms of professional athletes, including many Steinberg & Moorad clients. Moorad and Steinberg remained involved until the company's 1999 deal with Sequoia Capital and Redpoint Ventures.[48][46]

Moorad served on the Board of Directors for Oakley, Inc., until the sale of the company to Italian manufacturer, Luxottica.[49] Moorad also served on the Board of Directors for Citizen Sports Network, a digital sports & entertainment company, until its sale to Yahoo! in 2010.[50][51] Moorad previously owned NASCAR team Hall of Fame Racing.[3]

Entertainment business

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Moorad and Steinberg appeared in and served as technical consultants for the 1996 Academy Award-winning picture Jerry Maguire. Moorad and Steinberg were the inspiration behind the Jerry Maguire character played by Tom Cruise.[52]

Moorad was the baseball technical consultant for the Universal picture For Love of the Game and had a cameo appearance in the movie.[53]

Community work

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Moorad encouraged his clients to donate millions of dollars to charities and their communities, including their own non-profit foundations and alma maters.[54] Moorad himself endowed a $100,000 baseball scholarship to his alma mater UCLA, where he has taught a 'Business of Sports' class at UCLA's Anderson School of Management since 2013.[54][55] In February 2012, Moorad committed $5 million to his alma mater Villanova University School of Law for the creation of The Jeffrey S. Moorad Center for the Study of Sports Law.[56]

After Moorad's good friend Augie Nieto (founder, Chairman, and CEO of Life Fitness) was diagnosed with amyotrophic lateral sclerosis in 2005, Moorad has been active in helping to raise funds to find a cure for ALS.[54] Moorad serves as a Vice President of the Muscular Dystrophy Association and is on the board of the Translational Genomics Research Institute, both of which he has helped partner with Augie's Quest.[54] Moorad has also served as a chairperson of Childhelp's Drive the Dream Gala.[54]

Education

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A native of Modesto, California, Moorad served as student body president of Modesto Junior College, where he graduated with an Associate of Arts degree. He then went on to obtain a Bachelor of Arts in Political Science from UCLA in 1978, and a Juris Doctor from Villanova University School of Law in 1981.[57]

Moorad lives in Newport Beach, California, and has three sons.[30][58]

See also

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References

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  1. ^ Peter Keating (April 1, 2002). "Crash Landing". ESPN The Magazine.
  2. ^ "Jeff Moorad | MIT Sloan Sports Analytics Conference". Archived from the original on April 2, 2015. Retrieved March 23, 2015.
  3. ^ a b c d "Active Roster". MLB.com. Retrieved April 11, 2023.
  4. ^ Boeck, Greg (April 29, 2005). "Changing his pinstripes". USA Today.
  5. ^ "ESPN.com: MLB - Youth rewarded: Sabathia gets $9.5M deal". A.espncdn.com. July 18, 2003. Retrieved August 19, 2022.
  6. ^ Keating, Peter (May 29, 2003). "ESPN The Magazine: "Crash Landing"". Espn.go.com. Retrieved April 16, 2013.
  7. ^ Bloom, Barry M. (February 3, 2009). "Moorad reaches deal to buy Padres". MLB.com. Archived from the original on April 2, 2015.
  8. ^ Pouliot, Matthew (August 10, 2010). "Padres owner Jeff Moorad: payroll ain't everything". NBC Sports. Retrieved December 4, 2013.
  9. ^ Powers, Jeff (March 27, 2009). "A Padres Dozen: New Ownership Group Introduced". SanDiego6.com. Archived from the original on March 28, 2009.
  10. ^ a b Page, Eric S. (March 26, 2009). "New Padres Owners Take the Field". NBCSanDiego.com. Archived from the original on September 3, 2012.
  11. ^ "Robert Piccinini". Forbes.
  12. ^ a b "Padres sale agreement in place". ESPN.com. Associated Press. August 7, 2012. Archived from the original on March 9, 2013.
  13. ^ "Moorad Completes Deal To Buy, Move Triple-A Portland Beavers". Sports Business Daily. November 4, 2010. Retrieved December 5, 2013.
  14. ^ "Jeff Moorad named one of San Diego's most admired CEOs". November 22, 2010. Archived from the original on August 19, 2014. Retrieved December 4, 2013.
  15. ^ C. Trent Rosecrans (April 6, 2012). "Reports: Padres' new TV deal could be worth more than $1 billion". CBS Sports.
  16. ^ "Wall Street Journal 9/25/09 "Owner will be Yelling: Go PadreBacks"". Online.wsj.com. September 25, 2009. Retrieved April 18, 2013.
  17. ^ Center, Bill (March 13, 2011). "Deal completed to transfer Moorad's interest in Diamondbacks". San Diego Union-Tribune. Archived from the original on August 22, 2014.
  18. ^ a b Krasovic, Tom (April 4, 2012). "How the Padres ownership deal fell apart". U-T San Diego. Archived from the original on August 22, 2014.
  19. ^ a b Morosi, Jon Paul (March 23, 2012). "Padres could serve as consolation prize". FoxSports.com. Archived from the original on June 8, 2012.
  20. ^ a b "Jeff Moorad steps down as CEO". ESPN.com. Associated Press. March 22, 2012. Archived from the original on July 1, 2012.
  21. ^ Rob Neyer (March 22, 2012). "Jeff Moorad Drops Bid To Purchase Padres". SB Nation.
  22. ^ "John Moores hires bankers". ESPN.com. April 10, 2012. Archived from the original on June 20, 2012.
  23. ^ Center, Bill (August 16, 2012). "MLB approves sale of Padres". U-T San Diego. Archived from the original on July 13, 2014.
  24. ^ a b c "News & Media | Carlyle". www.carlyle.com. Retrieved April 11, 2023.
  25. ^ "Carlyle to lead Group Acquiring PrimeSport, a One-Stop Platform for Ticketing, Hospitality and Travel | Carlyle". www.carlyle.com. Retrieved April 11, 2023.
  26. ^ "Clearlake Sells a Majority Stake in PrimeSport to Carlyle Led Group" (Press release). February 17, 2015.
  27. ^ "NFL's Super Bowl VIP Company on Location Acquires PrimeSport". Billboard. December 13, 2017.
  28. ^ a b "Net income: Family Circle parent sells 70% of its Charleston tennis business". October 27, 2017.
  29. ^ a b "Morgan Lewis Scores Ex-Padres Exec to Helm Sports Group - Law360".
  30. ^ a b Moorad new Morgan Lewis co-head of sports, to work out of L.A. area (subscription required)
  31. ^ "Jeff Moorad Joins Morgan Lewis to Lead Firm's Global Sports Industry Initiative". www.morganlewis.com. Retrieved April 11, 2023.
  32. ^ "Morgan Lewis Consulting LLC". www.morganlewis.com. Retrieved April 11, 2023.
  33. ^ "Homepage". MSP Sports Capital. Retrieved April 11, 2023.
  34. ^ a b "Moorad Buys Portuguese Soccer Club". July 24, 2019.
  35. ^ "MSP Sports Capital Announced They Are Part of Group of Sports Investors in the Acquisition of Agrupación Deportiva Alcorcon S.A.D." (Press release).
  36. ^ "MSP Sports Capital Co-Leads Sports Investors in Acquisition of Portugal's Estorial Praia Futebol. - Free Online Library". www.thefreelibrary.com. Retrieved April 11, 2023.
  37. ^ "Fundo de investimento MSP Sports Capital adquire SAD do Estoril Praia". SAPO Desporto. Retrieved April 11, 2023.
  38. ^ "MSP Sports Capital announced it has co-led a group of North American sports investors to acquire Estoril Praia Futebol SAD" (Press release).
  39. ^ "Alcorcon adds to MSP's growing portfolio". September 17, 2019.
  40. ^ "MSP adds Agrupación Deportiva Alcorcon SAD to its growing portfolio". September 17, 2019.
  41. ^ "McLaren sells big stake in F1 team to consortium in £560m deal".
  42. ^ "McLaren confirms details of stake sale". December 13, 2020.
  43. ^ "ESPN sells majority X Games stake to equity firm". October 26, 2022.
  44. ^ "ESPN Sells Controlling Stake in X Games to MSP Sports Capital, Which Wants to Expand Digital Livestreaming of Events". October 26, 2022.
  45. ^ "Trove".
  46. ^ a b c Arkush, Michael (2015). The Agent: My 40-Year Career Making Deals and Changing the Game. St. Martin's Press. p. 245. ISBN 978-1250067746.
  47. ^ "SFX gains marketing yardage with ISI buy". January 29, 1999.
  48. ^ "IPOs - Latest & Upcoming IPOs - Taking a Company Public". Nasdaq. Retrieved April 11, 2023.
  49. ^ "Oakley Appoints Jeff Moorad, Arizona Diamondbacks' General Partner, to Its Board of Directors" (Press release). December 13, 2006.
  50. ^ "Innovating in the World of Sports Media". Huffington Post. November 11, 2009.
  51. ^ "Yahoo Acquires Citizen Sports". March 17, 2010.
  52. ^ Gomez, Eric (February 6, 2009). "Who Is New Padres Owner Jeff Moorad?". Bleacher Report. Retrieved December 5, 2013.
  53. ^ Kelly, Jason. "Jeff Moorad Biography". Bloomberg Link. Archived from the original on June 16, 2013. Retrieved December 5, 2013.
  54. ^ a b c d e "Jeff Moorad San Diego Padres Front Office". MLB.com. Retrieved December 5, 2013.
  55. ^ "The business of sports: It's not just a game".
  56. ^ Blumenthal, Jeff (February 13, 2012). "San Diego Padres CEO Moorad donates $5M to Villanova law school". Philadelphia Business Journal. Retrieved December 5, 2013.
  57. ^ "Jeff Moorad's Biography". SportMarketingAssociation.com. Archived from the original on May 7, 2010.
  58. ^ "Padres CEO Jeff Moorad gives his all to manage pro sports and players". December 28, 2011.
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