Vice President, Sports Finance - Project Finance

The Role:

Morningstar DBRS is seeking a Vice President, Sports Finance to help expand our analytical coverage across sports and project finance in North America. This role offers a rare opportunity to work across two highly specialized areas of the ratings market, combining coverage of professional sports franchises, stadium financings, and sports media-related credits with project finance and infrastructure transactions.

You'll play a visible role in the market, leading credit analysis, engaging directly with issuers and investors, and helping shape Morningstar DBRS's perspective on sectors that continue to attract significant financing activity. The role combines portfolio responsibility, new rating assignments, market engagement, and analytical leadership.

Working closely with colleagues across Sports Finance, Project Finance, and Infrastructure Finance, you'll cover credits connected to leagues and assets including the NFL, NBA, MLB, NHL, MLS, and European football, while also supporting analytical coverage of project-financed and infrastructure-related transactions across North America.

What you'll be doing:

• Lead analysis and surveillance of sports franchise, stadium, and sports media-related ratings while contributing to new rating assignments across sports and project finance.
• Evaluate complex financing structures, financial performance, management strategy, and credit risks across a range of issuers, projects, and infrastructure assets.
• Develop rating recommendations and present analytical conclusions to rating committees, supporting transparent and well-reasoned rating outcomes.
• Produce rating reports, press releases, and research that provide insight into developments across sports finance, project finance, and related infrastructure sectors.
• Engage directly with issuers, investors, advisors, and other market participants, serving as a key analytical contact for the sectors you cover.
• Review financing agreements, transaction documents, and legal structures supporting sports, project finance, and infrastructure transactions.
• Contribute to the development and refinement of rating methodologies and analytical frameworks.
• Represent Morningstar DBRS at conferences, industry events, media engagements, and other external forums as appropriate.
• Mentor junior analysts and support the continued development of the broader analytical team.

What we're looking for:

• At least eight years of experience in project finance, infrastructure finance, corporate credit analysis, banking, consulting, or a related field.
• Experience evaluating project-financed transactions, infrastructure assets, structured financings, or comparable credit exposures.
• Strong financial statement analysis, forecasting, and corporate credit assessment skills.
• Knowledge of sports finance and the business and financing dynamics of professional sports leagues, franchises, stadiums, and related media assets, including the NFL, NBA, MLB, NHL, MLS, and European football.
• Experience reviewing legal documentation, financing agreements, and transaction structures.
• Strong written and verbal communication skills, with the ability to explain complex credit considerations to a range of audiences.
• Ability to form independent analytical views, exercise sound judgment, and defend credit recommendations.
• Knowledge of IFRS and U.S. GAAP accounting standards.
• Bachelor's or Master's degree in business, economics, finance, commerce, or a related discipline.
• CFA designation or progress toward completion is an asset.
• Previous rating agency experience is an asset.
• Experience in public-private partnerships (PPP), infrastructure finance, or energy and infrastructure-related sectors is an asset.
• Willingness to travel as required.

The Group:

The Sports Finance team is part of Morningstar DBRS's broader Project Finance and Infrastructure platform. The team provides independent credit analysis and ratings on sports franchises, stadium financings, and related media assets, while working closely with colleagues across project finance and infrastructure sectors.

About Us
Morningstar DBRS is a leading provider of independent rating services and opinions for corporate and sovereign entities, financial institutions, and project and structured finance instruments globally. Rating more than 4,000 issuers and 60,000 securities, it is one of the top four credit rating agencies in the world.

Morningstar DBRS empowers investor success by bringing more transparency and a much-needed diversity of opinion in the credit rating industry. Our approach and size allow us to be nimble enough to respond to customers' needs in their local markets, but large enough to provide the necessary expertise and resources they require. Market innovators choose to work with us because of our agility, tech-forward approach, and exceptional customer service.

Morningstar DBRS is the next generation of credit ratings.

Compensation and Benefits

At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:

• Financial Health

  • 100% 401k match up to 6% of salary

  • Stock Ownership Potential

  • Company provided life insurance - 1x salary + commission

• Physical Health 

  • Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages

  • Additional medical Wellness Incentives - up to $300-$600 annual

  • Company-provided long- and short-term disability insurance

• Emotional Health 

  • Trust-Based Time Off

  • 6-week Paid Sabbatical Program

  • 6-Week Paid Family Caregiving Leave

  • Competitive 8-24 Week Paid Parental Leave

  • Adoption Assistance

  • Leadership Coaching & Formal Mentorship Opportunities

  • Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses

  • Tuition Reimbursement

• Social Health 

  • Charitable Matching Gifts program

  • Dollars for Doers volunteer program

  • Paid volunteering days

  • 15+ Employee Resource & Affinity Groups

Base Salary Compensation Range

$113,308.00-$178,794.66

Incentive Target Percentage

30% Annual

If you receive and accept an offer from us, we require that personal and any related investments be disclosed confidentiality to our Compliance team (days vary by region). These investments will be reviewed to ensure they meet Code of Ethics requirements. If any conflicts of interest are identified, then you will be required to liquidate those holdings immediately. In addition, dependent on your department and location of work certain employee accounts must be held with an approved broker (for example all, U.S. employee accounts). If this applies and your account(s) are not with an approved broker, you will be required to move your holdings to an approved broker.

Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.

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