The sale by team owners Bob Funk Jr., Tim McLaughlin and Donna Clark coincides with Funk assuming a greater role in running Express Employment Professionals where he is executive vice president.
“Our goal has always been to do what is best for Oklahoma City,” Funk said. “We founded the club in that mindset. We’re continuing on with sitting down with Christian and his group to take on the Energy. We found the right person and the right group that will always want to do what is best for Oklahoma City. This is going to be a great partnership and we have the right guy involved. He has the appropriate vision and mindset for Oklahoma City and the fans.”
The transaction amount was not disclosed. It comes just weeks after Echo, led by Kanady, sold less than half of its minerals affiliate for a price reported at more than $500 million to Sixth Street Partners, a global investment firm based in San Francisco.
“They did a great job of founding the club,” Kanady said. “But they are at a different stage in their lives. Bob is taking a more active role at Express and Tim is an empty nester and wants to travel with his wife. Tim is also wanting to focus his time on Fields and Futures and Square Deal investments. They approached me about purchasing the team and we have the opportunity to put it on steroids moving forward.”
Kanady founded Echo in 2010 and has diversified its investments to biosciences, real estate and entertainment since moving into the Ziggurat building overlooking Kerr Park in 2020. Echo is the leading investor in Prairie Surf Studios and Wheeler Bio.
“At the end of the day, if I can do two things l love at the same time, I do it,” Kanady said. “And those two things are investing and improving Oklahoma City.”