Philadelphia Union Announce Updates To Ownership Group

Richard Leibovitch purchases stake in team from existing minority owner, will become Vice Chairman and occupy Alternate Governor seat for club;

Rich Graham and the Graham family increase existing investment commitment and purchase additional interest in team from same minority owner

CHESTER, Pa. (Mar. 16, 2018) – Chairman and Majority Owner Jay Sugarman announced today two updates to the Philadelphia Union’s ownership group. First, Richard Leibovitch, the founder of Arel Capital, has committed to acquire a majority of the stake currently held by an existing minority owner.

“I am excited to welcome Richard to the ownership group as we continue to focus on building a strong and growing club,” said Mr. Sugarman. “Richard’s passion for the Union is already deep and I am delighted he will help represent the Union as our Alternate Governor at league meetings.”

Added Mr. Leibovitch: “This was a unique opportunity to become part of the Union ownership and to join with Jay and the other owners in building on the strong foundations that have been put in place. Having had a chance to study the league and the club for several months, I am convinced the Union are very well positioned for success, and I hope to play my part in helping us achieve our ambitious goals.”

Additionally, Rich Graham and the Graham family have increased their overall investment in the Philadelphia Union. Their investment includes a newly formed multi-year youth development commitment, which uniquely positions Philadelphia Union to be among the leaders in player development in North America. The Union have signed five Homegrown Players to the club’s First Team over the past two seasons.

“We’re excited to step up our investment in Major League Soccer,” said Graham. “I want to thank Jay Sugarman and the rest of the ownership group for the opportunity to further my commitment to this organization, to soccer in Philadelphia, and to development of the American player. I wholeheartedly believe in our local talent pool and I am thrilled to be a part of a club that is passionate in seeing a future where the quality of Philadelphia's homegrown soccer players rivals that of any in the world."

Sugarman continued: “I would like to thank Richie and the Graham family for their increased commitment and support for the Union. Richie is from Philadelphia and uniquely understands the soccer community here. He and I share a strong belief in the development of the American soccer player and the program at YSC Sports and YSC Academy is among the strongest in our country.”

Closing of the transactions are expected to happen simultaneously with the signing of an expanded Youth Development Agreement between YSC Sports, YSC Academy and Keystone Sports and Entertainment to cement Philadelphia Union’s position as a leader in youth development and its unique “Path to the Pros.”

Inner Circle Sports, the global sports-focused investment bank based in New York, served as the financial advisor to Keystone Sports and Entertainment as part of the transactions.

ABOUT RICHARD LEIBOVITCH

An investment professional with over 30 years of experience, managing risk and identifying investment opportunities across a wide array of asset classes, Mr. Leibovitch founded Arel Capital in 2013 to focus on U.S. multifamily real estate. The firm currently owns approximately $2 billion in multifamily properties in New York, Texas, North Carolina and Colorado.

From 2003 to 2012, Mr. Leibovitch served as the Chief Investment Officer, a member of its Executive Committee and board member of Gottex Fund Management, a publicly-traded fund of hedge fund firm with over $7 billion in assets under management. From 1998 to 2003, Mr. Leibovitch was the Global Head of Trading and Derivatives for Putnam Investments. He was a member of their Executive and Management Committees. From 1985 to 1998, Mr. Leibovitch was a senior executive at JP Morgan, where he held a number of senior trading positions including Head of Derivatives Trading, Head of Mortgage-Backed Securities Trading and Co-Head of Equity Derivatives.

Mr. Leibovitch received a B.A (Hons.) from McGill University and an M.Phil from Cambridge University.

ABOUT RICH GRAHAM

Rich Graham serves as a member of the MLS Product Strategy Committee and is the founder of YSC Academy, Philadelphia Union’s affiliate high school for soccer players in grades 8-12. Mr. Graham and the Graham family initially invested in the Philadelphia Union in 2011.

Graham is a former soccer player, having competed collegiately in soccer for Dartmouth College (Class of 1991), and for the Philadelphia Freedom in the now defunct USISL.