Established and emerging sports leagues are opening up and attracting institutional investors to a range of opportunities.
Teamsters Local 111, Marine Carpenters Fund, UFCW Tri-State Plan and I.B.E.W Pacific Coast Fund, all distressed funds, were provided with support.
The C$648.8 billion pension giant will own a 90% stake, while real estate firm Kennedy Wilson will take a 10% interest and manage the operation.
The sports investor was one of several private equity firms approved earlier this year to buy a stake in a National Football League franchise.