Thomas Wagner on Sports Investing With Tom Brady

Masters in Business

Bloomberg

Business, Entrepreneurship, Investing

4.4 • 2.2K Ratings

🗓️ 14 July 2023

⏱️ 107 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bloomberg Radio host Barry Ritholtz speaks with Thomas Wagner, co-chairman and co-founder of Knighthead Capital Management LLC, which has $10 billion in assets under management. He is a co-investor, with Tom Brady, in several sports assets, including a pickleball team, the English Football League's Birmingham City club and an endurance auto racing team. Before founding Knighthead Capital, Wagner was a managing director responsible for running the distressed and high-yield credit trading desks at Goldman Sachs & Co. Wagner began his career doing hedge fund accounting at Ernst & Young; prior to joining Goldman in 2000, he was a high-yield trader and special-situations desk analyst at Credit Suisse First Boston.

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0:21.1	Bloomberg Surveillance. Join Tom Keane, Jonathan Farrow and me every week day for a unique
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0:30.0	insight from the names that shaped the world's markets.
0:32.5	Savage Solomon DeGolden and Sachs CEO. Ian Brammer of Eurasia Group.
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0:37.7	Subscribe to Bloomberg Surveillance today on Apple, Spotify or wherever you get your podcasts.
0:47.3	This is Masters in Business with Very Redholz on Bloomberg Radio.
0:52.8	This week on the podcast, I have an extra special guest. Tom Wagner, co-founder and portfolio
1:01.2	manager at Nighthead Capital. They run about $10 billion across all sorts of really fascinating
1:07.3	investing lines. Not only do they do distressed investing and deep value investing, but they have
1:13.5	an insurance business. They have a sports practice. They really look anywhere and everywhere.
1:20.4	Talk about an unconstrained fund that can just find opportunities in all sorts of ways.
1:28.2	Not only do they buy sports teams and have been really pushing the envelope in things like
1:37.3	buying soccer clubs in the UK, investing in pickleball in the United States, investing in endurance
1:43.4	racing around the world, but they also run a long short fund and find opportunities in things like
1:51.7	Hertz, which was a deep value bankruptcy investment or PG&E in California post campfire where there
2:00.5	was all sorts of regulatory and litigation risk. Just a fascinating approach to understanding value
2:08.2	investing, understanding how to allocate capital and take risks. I thought this was a fascinating
	...

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