“So I do think there’s a lot of characteristics in private equity that apply to other things, which is not a surprise,” he said. “I had invested in soccer clubs before, but I had never helped run a soccer club. “Private equity and quote ‘regular business’ comes in and generally takes control of the company on more than 50%, installs their own management team, makes necessary changes to benefit the shareholders,” he said. “In sports, private equity is a great source of capital… but the most they can own is 30%, and they have no governance rights.” “Larry’s private equity background, and the understanding of factors of success, meaning people, process and culture, it’s what we built at LAFC,” he said.