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According to reports, the company Sportfive, which represents Jon Rahm, Phil Mickelson and many other major golfers, is going up for sale. HIG Capital, the parent company, is weighing the sale of the agency per Josh Carpenter on X (formerly Twitter).
Reuters reported the story, saying that the firm has hired Citi to explore a sale of the sports business, which also manages media rights for events including the World Aquatics and World Weightlifting Championships. This was revealed under anonymity.
The company has performed very well, so HIG is looking to sell high and capitalize on their success. Everything is at the earliest stage, so a sale isn't imminent.
Aside from Mickelson and Rahm, Sportfive also represents athletes such as table tennis champion Timo Boll and badminton star Viktor Axelsen. They are looking at earnings exceeding $58 million next year.
HIG Capital's ownership of Sportfive began in January 2020 when it took a 75.1% stake in what was then the sports marketing arm of French media and retail group Lagardere. It blossomed from there and has grown significantly over the last few years.
Sportfive then bought Global Golf Management, an events management and consultancy firm for the sport in 2021. It also bought marketing specialist Wolfe Solutions in 2022.
What this means for Phil Mickelson, Jon Rahm
It remains unclear what this means for Phil Mickelson and Jon Rahm. When the sale goes through, the players will likely fall under a new parent company. Sometimes, that doesn't mean anything for the golfers or athletes represented.
Other times, policies change and other things stop, so there could be some decisions made by the golfers. If they don't want to be under the new rules, they can leave and find new representation depending on their contract.
Overall, this is strictly on the financial side for the most part. Their status on the PGA Tour and LIV Golf will not change, nor will their records, accolades or anything else.
