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Big Law

A Former Georgetown University Basketball Coach Becomes a Minority Owner in the American Cornhole League

Former Georgetown University men’s basketball coach John Thompson III is now an owner of a cornhole sports company.

Thompson and Asland Capital Partners CEO James Simmons III invested in the American Cornhole League. The transaction is ACL’s first funding round, but specific terms were not provided.

In an interview with CNBC on Monday, Thompson, son of legendary Georgetown University coach John Thompson Jr., explained the investment in ACL, adding the league is positioned to increase revenue over this decade due to its growing popularity.

“You kind of chuckle when you think about it,” Thompson said of investing in cornhole. “But as you dive in and do the research, cornhole is one of the fastest-growing sports in the world.”

Read the source article at cnbc.com

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