Goldman Sachs Exchanges
Investing in Sports: The Next Trillion Dollar Market?
Nov 15, 2024
In this engaging discussion, Josh Harris, co-founder of Apollo Global Management and a notable sports franchise owner, shares insights on the surge of institutional investors in professional sports. Dave Dase and Elis Jones from Goldman Sachs delve into the booming sports investment landscape, emphasizing the rising media rights and potential in women's sports. They also explore how Formula One's transformation into an entertainment juggernaut boosts its visibility. The emotional and financial aspects of sports investments are highlighted, showcasing the unique blend of passion and profit.
37:36
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Quick takeaways
- The shift from individual ownership to institutional investment in professional sports reflects evolving market dynamics and regulatory changes.
- Investing in women's sports is emerging as a significant opportunity, driven by rising viewership and the demand for inclusivity in athletics.
Deep dives
Evolution of Sports Ownership
Owning a professional sports team has transitioned from a personal investment dominated by individual owners to a model that increasingly welcomes institutional capital. Historically, ownership in leagues like the NFL was limited to individuals or groups of friends and family, with strict regulations against institutional ventures. However, valuations of NFL teams have surged, rendering the traditional model less feasible as team purchases now require billions in equity. The relaxation of ownership rules, especially after the purchase of the Washington Commanders, marks a significant shift in how teams can be owned, potentially diversifying and increasing the capital available within the industry.
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