Private equity investor Wes Edens has moved in a big way into sports in recent years. He made a name for himself having co-founded Fortress Investment Group in 1998 where he led the effort to invest in promising privately held firms with compelling business plans. He has been a principal of this New York City-based firm ever since he co-founded it.
Wes Edens has been very involved in sports throughout his life. When he was a teenager he was a competitive skier. As an adult, he is engaged in climbing mountains and competitive horse jumping. This explains his keen interest in other sports such as football (soccer in the United States) and the National Basketball Association, two sports in which he is now a team owner.
The first professional sports team that Wes Edens became an owner of was the Milwaukee Bucks. He partnered with businessman Marc Lasry to buy this team in 2014 for the price of $550 million. The promised when they were buying the team to keep it in Milwaukee and additionally replace the very outdated BMO Harris Bradley Center. See more information about Wes Edens at wealthx.com
He fulfilled his promise and a new arena has been completed in Milwaukee in time for the 2018-2019 season. This arena is the new home of the Bucks and can also be used for many other purposes such as conventions and possibly hockey. The naming rights went to Fiserv so it is called the Fiserv Forum and can seat 17,500 people.
Wes Edens says that the Milwaukee Bucks can win despite not having won a championship since 1971. He is right as the team has gotten off to a great 11-4 start to the 2018 season and has shown a lot of promise on defense and offense.
More recently, Wes Edens also became a co-owner of the Alton Villa football team. This team had been financially trouble before he and Egyptian billionaire Nassef Sawiris stepped in to right the ship. The goal is to return this team to the Premier League where they played for many years before being unpromoted due to too many losses.