The Borgen household, traders within the NWSL’s Denver Summit enlargement crew, are a part of the group that in Austin FC at an enterprise worth of $912 million.
FirstTracks Sports activities Ventures, which is managed by Jon-Erik Borgen, closed its funding earlier this month. The group is a part of the sequence of transactions largely introduced again in July that introduced new traders Jenny Simply and Matt Hulsizer, the co-founders of PEAK6 Investments and prior backers of some European soccer groups; billionaire Tench Coxe, a Nvidia board member; Dave Snyderman, Magnetar Capital managing companion; and Tanuj Gulati, co-founder and former CTO of Securonix.
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Sportico reported at the moment that the enterprise worth—crew fairness plus debt—within the offers was “greater than $900 million.” The particular quantity is about $912 million, in keeping with a number of individuals aware of the matter, who have been granted anonymity as a result of the small print are personal.
A rep for the membership confirmed the FirstTracks Sports activities funding however declined to touch upon the phrases. Whereas it’s unclear precisely who bought the fairness, or how a lot was bought, all seven of Austin FC’s stay homeowners in some capability, Sportico beforehand reported. Anthony Precourt stays the membership’s majority shareholder and first governor. Hulsizer is the crew’s alternate governor.
Borgen is managing director of FirstTracks Sports activities, which additionally contains his siblings Kaia and Randi Borgen. FirstTracks Ventures is an affiliate of the Borgen Funding Group, with has that features dozens of corporations throughout tech, media, wellness and different industries. The Borgen household is within the Denver/Vail areas.
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Like the remainder of the brand new 2025 backers, FirstTracks is coming into Two Oaks Ventures, which owns the MLS crew and operates its academy, its MLS Subsequent Professional franchise and Q2 Stadium. Two Oaks privately funded the $260 million venue, which opened in 2021, however it’s owned by town.
Traditionally, minority stakes in main U.S. sports activities groups have bought at a reduction to the management stake, however MLS has seen numerous lately. Sportico’s MLS valuations, that are calculated as the value a management stake would possibly promote for, put Austin FC at . That ranks No. 6 within the league. Membership income in 2024 was estimated at $96 million, which was fifth within the league.
Austin FC is the one main professional sports activities crew within the Texas capital, which has seen its inhabitants develop by roughly 40% within the final 25 years, in keeping with census knowledge. (The College of Texas at Austin can be situated on the town.) The membership has bought out 87 straight dwelling video games, the longest energetic sellout streak within the league.
Austin completed the common season 13-13-8, in sixth place within the Western Convention. The membership faces LAFC within the first spherical of the playoffs beginning Oct. 29.
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(This story has eliminated a reference to Austin-hosted MLS All-Star Recreation, which occurred in July, within the sixth paragraph.)
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