ENVISION RX CO-FOUNDER, CEO AND SACRAMENTO BUSINESS LEADER KEVIN NAGLE TO LEAD MLS OWNERSHIP GROUP FOR CLUB
Nagle led Envision RX to $4 billion in revenue in 2013 in addition to local land holdings including El Dorado Hills Town Center.
Sacramento Republic FC announced today that Sacramento business leader and co-founder of national pharmaceutical benefits powerhouse Envision RX, Kevin Nagle, will lead its prospective Major League Soccer (MLS) ownership group. If the club is selected for expansion by MLS, Nagle will be its single largest owner.
“I love Sacramento – its community, resilience and potential,” said Kevin Nagle. “Early on, I admired Republic FC’s success and efforts to galvanize this region; its bid for MLS is not only about sports, but also a shared vision for Sacramento. I am honored to work side-by-side with Mayor Kevin Johnson and Republic FC President Warren Smith to procure MLS for Sacramento and demonstrate why this region is built for MLS.”
Nagle will immediately integrate into Republic FC’s business strategy and efforts to procure MLS for Sacramento. He represented both Republic FC and Sacramento Kings during Mayor Johnson’s meeting with Deputy Commissioner Mark Abbott on August 6, 2014 at MLS All-Star Game. In addition, Nagle will work closely with Republic FC on the continued structuring of the club’s MLS ownership group and the building of a privately-financed soccer stadium.
“Kevin’s leadership and investment in Republic FC positions us as one of the top ownership groups in the sport,” said Republic FC President Warren Smith. “His success, credibility and financial wherewithal provide us the capability to succeed with our MLS bid. But what first endeared me to Kevin and what I love most is his passion for Sacramento.”
Nagle is the largest local shareholder and executive voting member of the Sacramento Kings (NBA). He served an integral leadership role in retaining the franchise in 2013. He worked tirelessly to recruit businesses as team sponsors and was recognized by then NBA Commissioner David Stern for his record setting efforts by selling more season tickets in one day, compared to all other NBA teams, following the sale of the team in 2013.
“This is a big win for Republic FC and our efforts to secure an MLS franchise,” said Mayor Kevin Johnson. “Kevin’s success in business speaks for itself. But his love of this community – borne out by his heroics during the Kings fight, and now, his bold action on MLS, speak volumes to how much he believes in Sacramento and how ready he is to play to win.”
Nagle is the co-founder and former Chief Executive Officer of Envision RX Holdings, Inc, a position he held from its inception until voluntarily stepping down in March of 2014. As one of the five largest prescription benefit managers (PBM), Envision consistently outperformed its competitors in virtually every critical metric recognized by industry analysts, including nearly $4 billion in revenue in 2013. Nagle currently serves as Vice Chairman of the Board of Directors and remains the largest non-institutional shareholder. The privately held company holds major offices in California, Ohio and Florida, and it employs over 900 people. Envision RX has been recognized for its industry innovation and leadership in transparency in the health care marketplace. In addition, Nagle serves as President and sole owner of The Nagle Company, Inc., an organization that is engaged in real estate development and other investments, including El Dorado Hills Town Center.
MLS officials will visit Sacramento on September 18-19 to evaluate the region’s viability for MLS expansion. Details including a full itinerary to be released. Read Nagle’s full biography.
More in News