Jeffrey Skoll, the founder and chairman of Participant Media, has joined Monumental Sports & Entertainment as a minority investor, according to Scott Soshnick and Eben Novy-Williams of Sportico.
Skoll has a net worth of about $5.58 billion according to Bloomberg. His first claim to fame cam as being the first president of eBay. Since his eBay days, Skoll has focused more of his efforts on Participant Media, a movie production company and philanthropy.
Skoll’s addition to Monumental Sports signals that the company is looking for additional partners, perhaps because of their recent investments. MSE is rumored to be among the frontrunners to purchase the Washington Nationals MLB team team from the Lerner family, who is also a minority owner in MSE. And they recently purchased NBC Sports Washington. These purchases aren’t cheap, even for billionaires.
There is no word on how much of MSE Skoll owns or whether he is among the largest investors after CEO Ted Leonsis and Laurene Powell-Jobs. But it’s pretty clear that the company will be run as a corporate-type enterprise instead of a mom-and-pop shop.