Billionaire Kevin Plank sells Baltimore Water Taxi

Plank's Sagamore Ventures subsidiary offloads the water taxi business to previous owner Harborcare Inc.

Mar. 26, 2026 at 10:32pm

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Kevin Plank, the billionaire founder of Under Armour, has sold the Baltimore Water Taxi business through his Sagamore Ventures subsidiary. The new ownership group includes previous owner Michael McDaniel, who had sold the company to Plank's firm in 2016.

Why it matters

This sale is part of Plank's ongoing efforts to offload his local Baltimore portfolio as he shifts his focus away from the city. The water taxi business had been one of Plank's investments in the city's transportation and tourism infrastructure.

The details

Sagamore Ventures, a subsidiary of Plank's investment firm, sold Harbor Boating Inc., which operates the Baltimore Water Taxi, to Harborcare Inc. last October. The new ownership group includes Harbor Boating CEO Michael McDaniel, who had owned the company for six years before selling it to Plank's firm in 2016. The sale price was not disclosed.

  • The sale of the Baltimore Water Taxi business occurred in October 2026.

The players

Kevin Plank

The billionaire founder of Under Armour who has been offloading his local Baltimore portfolio in recent years.

Sagamore Ventures

A subsidiary of Plank's investment firm that sold the Baltimore Water Taxi business.

Harbor Boating Inc.

The company that operates the Baltimore Water Taxi, which was sold by Sagamore Ventures.

Harborcare Inc.

The new ownership group that purchased the Baltimore Water Taxi business, including previous owner Michael McDaniel.

Michael McDaniel

The CEO of Harbor Boating Inc. who had owned the Baltimore Water Taxi business for six years before selling it to Plank's firm in 2016, and has now repurchased it.

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What they’re saying

“You know, here we are.”

— Michael McDaniel, CEO, Harbor Boating Inc.

The takeaway

This sale represents the continued unwinding of Kevin Plank's local Baltimore investments as he shifts his focus away from the city, with the water taxi business returning to previous ownership under Michael McDaniel.