Returns in sports ownership have outpaced public market indices by ~4-6% per year over the last decade. And just recently, leagues have begun allowing institutions to acquire interests in sports teams. These rule changes paved the way for a banner year for sports private equity investments in 2021. Firms invested nearly $2 billion into acquiring stakes in professional teams; namely, Sixth Street Partners and Dell took a 30% stake in the San Antonio Spurs, and Arctos Sports Partners acquired 10% of the Minnesota Wild. This panel convenes titans from JP Morgan and Arctos, NBA ownership in NBA Champion Wes Edens, and the MLS President who opened the league to more diverse ownership structures. This will be a lively discussion on what makes sports teams an attractive investment opportunity, the private equity plan for ownership, how primary team ownership has evolved, and where investors will be looking for alpha in the future.