Sloan, Sagansky Join In Spirited Ziffren IN-Sports Conversation

November 2, 2020
Jeffrey Sagansky and Harry Sloan discussed SPACs in an Oct. 26 IN-Sports event.
Jeffrey Sagansky and Harry Sloan discussed SPACs in an Oct. 26 IN-Sports event.

Leading media executives Harry Sloan and Jeffrey Sagansky participated in a spirited discussion on Oct. 26 about the recent explosion of interest in special purpose acquisition companies (SPACs). The webinar was the latest in the Ziffren Institute for Media, Entertainment, Technology and Sports Law’s series of high-level IN-Sports conversations.

Sloan is chairman and CEO of Eagle Equity Partners, of which Sagansky was founding investor. Ziffren Institute founder Ken Ziffren ’65 moderated the discussion.

The executives detailed their journey in the world of SPACs – companies that raise capital through an IPO for the purpose of acquiring an existing company in a targeted business sector. Among other accomplishments since their partnership began 10 years ago, Sloan and Sagansky successfully navigated the fantasy gaming platform DraftKings to an IPO.

They said that SPACs provide the greatest advantage for new and unique businesses where there are no competitors. They also acknowledged that, as an investment vehicle, SPACs have recently become an enticing opportunity for investors and underwriters because they allow for ownership in an emerging company.

But Sloan and Sagansky had different views on where SPACs go from here. Sloan said that there is immense potential in the sports industry because no team has ever been taken public via SPAC. Sagansky, on the other hand, maintained that tech remains the competitive market and will continue to be.

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