Eli Manning's private equity firm acquires licensing company for NFL Flag in bet on youth sports

Key Points Eli Manning's private equity firm Brand Velocity Capital is acquiring RCX, the youth sports operating partner for the NFL, NBA, WNBA, MLS, NHL and MLB. Last month, a group of Democratic congressmen announced a bill that would ban some private equity firms from investing in youth sports. Manning has long championed flag football and told CNBC he wants it to be sanctioned as a high school varsity sport for both boys and girls. A version of this article appeared in the CNBC Sport newsletter with Alex Sherman, which brings you the biggest news and exclusive interviews from the worlds of sports business and media. Sign up to receive future editions, straight to your inbox. Former New York Giants quarterback Eli Manning's private equity firm Brand Velocity Group is acquiring RCX Sports, the company that manages the licenses of the official youth sports programs of the NFL, NBA, WNBA, MLS, NHL and MLB. RCX has about 150 employees and makes money distributing sports products such as uniforms and equipment and servicing local parks and recreation centers. Financial terms of the deal weren't disclosed. The transaction is supported by a broad investor group including other former and current athlete partners Emmitt Smith, Larry Fitzgerald and Jameis Winston. Parents of kids who play youth sports are likely quite familiar with the programs: NFL Flag; Jr. NBA; Jr. WNBA; MLS GO; NHL Street and MLB Pitch Hit & Run. …