Goldman Sachs' (GS) wealth management business, which has some New York Knicks players as clients, is getting a boost to its operations after the basketball team won the NBA championship in June, Bloomberg reported Friday, citing people familiar with the matter.
The players were together awarded more than $9 million from the event, with star players getting even more from sponsorship deals, the report said.
The company's athlete clients, who have a long-term investment horizon, are more comfortable with private investments, a person familiar with the unit told the media outlet.
Goldman Sachs did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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