Billionaires Cover All the Bases with Sports Investments

Billionaires don’t just want to bet on the Stanley Cup. They want to own the New York Rangers.

A new JPMorgan survey of 111 billionaire families found that 20% now own controlling stakes in sports teams, up from just 6% in 2022. Over a third are investing in stadiums and franchises, ranking sports above other luxury assets, like fine art and classic cars. Once a passion project for the ultra-rich, sports ownership is becoming a more mainstream portfolio holding. “Sports have gone from being a wealthy individual’s hobby to a really serious business,” one billionaire said in the survey. “We’re overallocated to sports, but it’s been phenomenal.”

Are You Ready for Some Football?

Major sporting events like the Super Bowl and FIFA World Cup dominate global viewership. With reliable revenue and global reach, it’s no wonder billionaire families want in. This year alone has seen massive deals:

• The Koch family acquired a minority stake in the New York Giants, valuing the team at more than $10 billion.
• Guggenheim Partners CEO Mark Walter completed his $10 billion purchase of a majority stake in the Los Angeles Lakers.
• For a comparatively modest $600 million, the Miller family, longtime former owners of the Utah Jazz, bought controlling interest in RSL Football Holdings, operator of Real Salt Lake, Utah Royals FC and related stadium assets.

“This asset class has transcended fandom,” JPMorgan said in the report. “For many principals, ownership is both a strategic and emotional endeavor.”

Good News, Sports Fans. While direct ownership remains limited to accredited investors, ordinary fans can still get in the game. Madison Square Garden Sports and Manchester United are both publicly traded on the NYSE, while the company that owns the Atlanta Braves is listed on the Nasdaq. Private-equity giants Apollo and Ares Management are also developing sports investment funds to give retail investors access to the booming arena of sports ownership.