We are Three Lions Capital
Investing where sport creates enduring value.
Three Lions Capital is a principal-led investment firm built by operators who have owned, built, and grown sports assets across three continents.
Our story
A firm built by owners, not allocators.
Three Lions Capital was founded by Brett Johnson and Berke Bakay, two partners who have spent the better part of a decade building sports assets from the ground up. In 2016, they co-founded Phoenix Rising FC, establishing it as one of the most successful clubs in USL history.
That track record opened the door to Ipswich Town FC. On April 7, 2021, Brett and Berke led an institutional acquisition of the club from League One, the third tier of English football. Four years of hands-on ownership - new management, new infrastructure, disciplined capital - produced three promotions in four years and a return to the Premier League. In 2025, Three Lions Capital took controlling interest in the club through Portman Holdings, in partnership with Clara Vista and ORG.
Three Lions Capital is the vehicle through which that experience - the network, judgment, and the deal flow it has generated - is deployed at scale.
Value in sport is built over years, not quarters.
Strategy
A thesis, not a mandate.
We invest in sports assets - franchises, operating platforms, and adjacent businesses - where our network creates access and our operating experience creates value.
Why Sports
Sports assets generate cash flows that are structurally uncorrelated with broader markets, benefit from secular tailwinds in media rights and global fandom, and can trade at a discount to intrinsic value when management is weak. Regulatory changes across every major U.S. league have unlocked institutional ownership, accelerating capital formation in a category that has historically been inaccessible.
Why Three Lions
Ownership experience
We have built clubs, constructed stadiums, hired managers, and driven promotions. We invest as owners, not observers.
Proprietary deal flow
Our ownership network across clubs, leagues, and operating platforms generates access to opportunities that are not typically marketed.
Institutional discipline
Transactional rigor, governance, and downside analysis applied to a category where most capital still moves on instinct.
Long-horizon conviction
We invest with patience. Value in sports is built over years: through management, infrastructure, brand, and community.
Investment focus
We pursue three types of opportunities:
Controlling or significant minority stakes in professional sports clubs.
Sports operating platforms with durable infrastructure and recurring revenue.
Adjacent businesses - entertainment, life sciences, real assets - where the partners' networks create a specific edge.
We invest as owners, not as observers.
Portfolio
Built through proprietary access and active ownership.
A concentrated portfolio of sports, entertainment, and life sciences investments.
Team
Founder-led. Operator-aware.
We invest as owners. The partners have built clubs, constructed stadiums, and structured capital across sport, real estate, and the public markets.
Founding Members
The Team
The best opportunities are never marketed.
Contact
Begin a conversation.
We work with a select group of sophisticated investors and partners. For general inquiries, please use the form. Fund materials are made available only to verified, eligible investors through a secure portal.
La Jolla, California
Investor access
Verified investors can access private fund materials through the secure portal.
Investor Access