Chicago Atlantic Provides Debt Financing to GF Sports & Entertainment

Chicago Atlantic Admin, LLC (“Chicago Atlantic”) announced that it acted as administrative agent on the funding of a senior secured credit facility for GF Capital Sports Holdings, LLC (“GF Sports & Entertainment”). GF Sports & Entertainment owns and operates the Dallas Open, a tennis tournament recently upgraded to ATP 500 status, which will host global professional tennis players at the Ford Center at The Star in Frisco, the Dallas Cowboys’ world corporate headquarters and training facility, beginning February 2025.

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GF Sports & Entertainment owns and operates the Dallas Open, a tennis tournament recently upgraded to ATP 500 status. (Photo: Business Wire)

“We see alternative sports and sports tech as high-value emerging markets generally inelastic to broader economic trends. Tournaments upgraded from ATP 250 to ATP 500 status have historically experienced rapid financial progress as they attract elite competitors and fill mainstream venues. Coupling that success with the track record of GF Sports & Entertainment, we are extremely optimistic about the Dallas Open and proud to be a debt partner to this growing alternative asset class,” said Tony Cappell, Chicago Atlantic Founding Partner.

Increased accessibility of sports through social and streaming platforms has increased the efficiency at which a diverse array of sports can monetize their followings. This shift, coupled with improved economics of sports management, has driven increased demand and deal flow within the asset class, with niche sports identified as a strong area of opportunity.¹

“Chicago Atlantic and GF Sports & Entertainment have a common mission to seize opportunities that others overlook, investing our talents, energies and resources in unique opportunities that deliver superior returns. We’ve watched Chicago Atlantic scale true strategic partnerships across the lower middle market and are thrilled to utilize their growth finance strategies during this time of unprecedented consumer demand,”said Gary Fuhrman, Chairman of GF Sports & Entertainment.

^{1 S&P Global Market Intelligence, March 2024.}

About Chicago Atlantic

Chicago Atlantic is a private markets alternative investment manager focused on industries and companies where demand for capital exceeds traditional supply. Founding Partners John Mazarakis, Tony Cappell and Andreas Bodmeier established Chicago Atlantic to provide capital solutions to state-licensed cannabis operators. The firm’s private investment strategies have grown to include opportunistic credit, private equity, digital mining and impact investing, with focuses on loans to esoteric industries, specialty asset-based loans, liquidity solutions and growth and technology finance. Chicago Atlantic has closed over $2.1 billion in credit facilities to date. Chicago Atlantic’s team of 85 professionals has offices in Miami, Florida and Chicago, Illinois. For more information on Chicago Atlantic’s financing products, visit chicagoatlantic.com

About GF Sports & Entertainment

GF Sports & Entertainment is a live events and sports entertainment company established by the New York-based private equity firm, GF Capital. In addition to the Dallas Open, the company owns and operates the ATP 250 Atlanta Open (taking place for the final time July 2024), the National Lacrosse League (NLL) team the Ottawa Black Bears and The World Long Drive Tour.The firm produces memorable events and riveting competitions, unique concepts and global content, but above all, vital and enduring franchises. To learn more, visit GFsportsandentertainment.com.

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