William Blair today announced it has entered into a definitive agreement to acquire Inner Circle Sports, a leading boutique investment bank focused on the global sports, media, and entertainment ecosystem.
The transaction, subject to customary closing conditions and regulatory approval, expands William Blair’s investment banking platform and underscores the firm’s continued commitment to building advisory and capital markets capabilities aligned with long-term client needs. Inner Circle Sports will continue to operate with its same name for a period of time post-acquisition.
Founded in 2002, Inner Circle Sports is a trusted advisor across the sports, media, and entertainment space including team owners, leagues, investors, sports operating companies, municipalities, universities, and media/entertainment companies. The firm is widely recognized for its deep sector expertise, long-standing relationships, and bespoke approach to complex, high-profile transactions.
Inner Circle Sports advises clients across the full lifecycle of sports, media, and entertainment investments, including buy-side and sell-side M&A, limited partner transactions, capital raising, valuations, as well as debt financing. Its advisory work is grounded in proprietary market intelligence and a highly specialized understanding of the strategic and financial dynamics shaping the evolution of the sports, media, and entertainment ecosystem.
“Inner Circle Sports has built an outstanding franchise anchored by deep sector expertise, trusted relationships, and a strong entrepreneurial culture,” William Blair Chief Executive Officer Brent Gledhill said. “Their approach aligns closely with William Blair’s client‑first philosophy and independent partnership model. As our investment banking activity continues to accelerate, we look forward to expanding opportunities with Inner Circle Sports across our exceptional financial services platform.”
“Expanding our capabilities in sports, media, and entertainment is a key strategic priority for William Blair,” said Matt Zimmer, global head of investment banking. “The sector is experiencing strong secular tailwinds, spanning professional sports as well as youth and collegiate athletics, alongside meaningful opportunities across the broader sports, media, and entertainment ecosystem. Inner Circle Sports further enhances our ability to serve clients and deliver value across these markets, including our private equity clients with exposure to the asset class.”
“When we founded Inner Circle Sports, I could not have imagined how much the industry would evolve,” said Rob Tilliss, co-founder of Inner Circle Sports. “Partnering with William Blair is a natural fit, given our shared values and their ability to further expand our platform and resources. This combination will provide our clients with even greater opportunities going forward, and we are thrilled to be joining Brent, Matt, and their team.”
“Joining William Blair represents a compelling next chapter for Inner Circle Sports,” added Steve Horowitz, co-founder of Inner Circle Sports. “Since our founding, we have been one of the most active advisors on control transactions in the team sports industry across the U.S. and Europe. We have had the privilege of supporting exceptional clients during some of their most important and visible decisions.”
“From our early efforts with Liverpool FC and the Philadelphia 76ers to today, we take great pride in the breadth and impact of our work across the global sports, media, and entertainment sector,” Horowitz said. “Our success has been driven by the talent, integrity, and commitment of the people at Inner Circle Sports.”
Winston & Strawn LLP served as legal advisor to William Blair. Solomon Partners served as financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to Inner Circle Sports.
About William Blair Investment Banking
William Blair’s investment banking group enables corporations, financial sponsors, and owner/entrepreneurs around the world to achieve their growth, liquidity, and financing objectives. Drawing on the collective intellectual capital and deep sector expertise of a global team that reaches over 20 cities on four continents, the investment banking group brings a rigorous and innovative approach to corporate board advisory projects, mergers and acquisitions, and equity and debt financing. From January 2021 through December 2025, the team advised on more than $850 billion in completed transaction volume.
About William Blair
William Blair is the premier global partnership with expertise in investment banking, investment management, and private wealth management. We provide advisory services, strategies, and solutions to meet our clients’ evolving needs. As an independent and employee-owned firm, together with our strategic partners, we operate in more than 30 offices worldwide.*
*Includes strategic partnerships with Allier Capital, BDA Partners, and Poalim Capital Markets.
About Inner Circle Sports
Inner Circle Sports is a boutique investment bank focused on the global sports, media, and entertainment industry. We specialize in corporate finance and capital raising services, including buy-side and sell-side advisory, acquisition and facility financing, as well as valuation and consulting services to our global client base. Our vertical focus, industry expertise, and network of relationships have made us the global leader in sports, media, and entertainment finance. https://www.innercirclesports.com