Another mortgage exec aims to own a sports team

Bill Cosgrove, the CEO of Union Home Mortgage, is the latest mortgage industry player looking to move into sports team ownership.

Cosgrove is listed as part of a group headed by another housing industry participant, Dream Finders Homes founder, president and CEO Patrick Zalupski looking to purchase the Tampa Bay Rays, the team confirmed to MLB.com on June 18.

Dream Finders is also in the mortgage and title businesses through its ownership of Cherry Creek Mortgage and Alliant National Title.

Because of nondisclosure agreements, Cosgrove is unable to comment.

In addition to his role at Union Home, Cosgrove is a past chairman of the Mortgage Bankers Association.

If the deal takes place, he would join Dan Gilbert, the owner of the Cleveland Cavaliers, and Mat Ishbia, who bought the Phoenix Suns as well the WNBA's Mercury as mortgage industry names who own sports teams.

Bill Foley, who has current and past ties with several mortgage and housing businesses, including Fidelity National Financial and Black Knight, is the owner of the National Hockey League's Las Vegas Golden Knights.

A 2024 agreement with both the NBA and WNBA created a partnership between those leagues and UWM's Mortgage Matchup website.

Ishbia is also part of a group headed by his brother Justin that have an agreement to acquire the Chicago White Sox.

Ironically, the White Sox play in what is now called Rate Field following a sponsorship agreement.

Loandepot is also the "official mortgage provider of Major League Baseball" and the sponsor of the Marlins' home field in Miami.

Gilbert's team plays in Rocket Arena. The company is also known for its multiple sport sponsorship efforts. It returned to advertising during the Super Bowl this year, highlighted by a live in-stadium sing-along to Country Roads Take Me Home.

Pennymac Financial Services is the official mortgage provider for Team USA and the 2028 Los Angeles Olympic and Paralympic Games.

Past stadium sponsorship deals included Ameriquest (which went out of business in 2007) having the naming rights to what was then the home field for the Texas Rangers. Ameriquest's subsidiary Argent was the primary sponsor for 2004 Indy 500 winner Buddy Rice as well as Danica Patrick early in her open-wheel racing career.

But sometimes such sponsorships have gone awry. Equity Prime Mortgage's sports marketing sponsorship efforts on a couple of fronts, have ended up in the legal system.