Morgan Stanley has taken a majority stake in and Stadium Capital Associates, a developer of a proprietary process to raise capital for professional sports teams, universities, and entertainment venues.

The majority interest was acquired by Morgan Stanley Principal Investments in a newly formed entity. Terms of the transaction were not announced.

The existing management of Stadium Capital will continue to run the business and continue to build a full staff of experienced professionals.

Stadium Capital Financing Group, the name of the newly formed entity, assists teams in raising capital without incurring debt or diluting ownership or governing control. It will seek to provide “turnkey” services including financial advisory services, upfront purchaser financing packages, sports marketing and communication services, legal documentation services, tax and accounting analysis, and a proprietary secondary market ticket exchange program for underlying tickets.

“Stadium Capital’s proprietary program fulfills a market need for alternative stadium financing without issuing debt. It’s exciting for Morgan Stanley to have this proprietary market transforming technique on an exclusive basis,” said Don Cornwell, executive director of Morgan Stanley’s investment banking division, in a release.

“We are excited to participate in this investment in Stadium Capital,” said Eddy Zervigon, executive director of MSPI. “We believe that this methodology will revolutionize the manner in which teams and universities finance sports and stadium needs here in the United States and around the world.”