Harbinger Sports Partners Founder Rashuan Williams discusses the 'explosion' and diversification of revenue by many sports franchises, and the switch to 'sports 2.0,' a new business model aimed at maximizing real estate surrounding sporting venues. He talks with Romaine Bostick and Katie Greifeld on "The Close."

Harbinger Sports Partners, the private equity firm that recently closed the first $466M of its debut fund, is close to making its first franchise investment in one of what it calls the “big three” leagues: MLB, NBA and NFL.

Harbinger Sports Partners, an Atlanta-based private equity fund targeting minority stakes in major US sports leagues, has reached $450m in investor commitments at the first close of its flagship fund.

Harbinger Sports Partners (“Harbinger”) today announced the successful initial closing of the Harbinger Sports Partners Fund I strategy (the “Fund I Strategy”). Following the closing, Harbinger has secured over $450 million in assets under management related to the Fund I Strategy.

A private equity fund focused on professional sports and led by Mark Cuban has secured $450 million in investor commitments at the first close of its flagship fund, according to people familiar with the matter.

Rashaun Williams, founder of Harbinger Sports Partners and guest shark on ABC’s Shark Tank, says that both the buyer and the seller of a major sports team stand to benefit. He speaks with Romaine Bostick and Katie Greifeld on "The Close."