Key Takeaways
- • DBS estimated in a May 2026 report that the world's 50 most valuable sports teams were worth US$353 billion, a figure that had more than doubled in four years.
- • Sports investment has shifted from wealthy individuals' passion projects to a professionalised asset class, with private equity, sovereign wealth funds and consortia now participating, according to Morgan Lewis partner Mark Geday.
- • Goldman Sachs Private Wealth Management notes that streaming platforms including Amazon, YouTube, Netflix and Apple have committed more than US$32 billion to marquee sports rights since 2022.
- • Investors are increasingly looking beyond established leagues to emerging properties such as TGL, SailGP and the WNBA, where women's sports are seen as offering higher upside.
- • Minority investors typically have little or no control over the teams they partly own, a structural friction that HKU's Dr Yifei Zhang highlights.
Summary
Sports has become a serious alternative asset class, according to a feature in Tatler Asia. The article cites a May 2026 DBS report valuing the world's 50 most valuable sports teams at US$353 billion, more than double the figure of four years earlier. Franchise values have reached multibillion-dollar levels, illustrated by the sale of the LA Lakers to venture capitalist Josh Kushner and former Disney CEO Bob Iger for US$12.5 billion in August 2026, a year after previous owner Mark Walter had bought the team for US$10 billion.
According to the article, sports offers diversification benefits. Jason Lam, investment strategist at DBS Hong Kong, said limited supply concentrates broadcasting and sponsorship revenue among a few owners, supporting stable cashflows, and that the correlation of sports investments with public markets is low and in some cases negative. Tony Simpson of Oliver Wyman argued that team valuations have trended upward, so owners who hold for around ten years may still generate returns even if day-to-day operations lose money.
Investment access has broadened. Geday of Morgan Lewis said individuals can now participate through private equity and institutions through consortia, though regulations traditionally concentrate control in a single owner. Arctos, the KKR-affiliated sports private equity business, said leading owners are building broader sports, media, entertainment and real estate platforms. Goldman Sachs Private Wealth Management's Nicole Pullen Ross said established leagues such as the NBA and NFL can resemble public equities, while emerging leagues resemble venture or growth equity, with women's sports and properties such as TGL, SailGP and the WNBA offering potentially greater upside.
Standard Chartered, which launched a sport-focused fund through its Global Private Bank in 2025, described women's sport as one of the most compelling growth stories, with audience, sponsorship and media coverage rising from low bases. Dr Yifei Zhang of the University of Hong Kong noted that sport retains a strong emotional element that makes it less predictable than other asset classes. The article also notes that Asian investors have historically been underrepresented in western major leagues, but are increasingly seeking exposure.
According to the article, sports offers diversification benefits. Jason Lam, investment strategist at DBS Hong Kong, said limited supply concentrates broadcasting and sponsorship revenue among a few owners, supporting stable cashflows, and that the correlation of sports investments with public markets is low and in some cases negative. Tony Simpson of Oliver Wyman argued that team valuations have trended upward, so owners who hold for around ten years may still generate returns even if day-to-day operations lose money.
Investment access has broadened. Geday of Morgan Lewis said individuals can now participate through private equity and institutions through consortia, though regulations traditionally concentrate control in a single owner. Arctos, the KKR-affiliated sports private equity business, said leading owners are building broader sports, media, entertainment and real estate platforms. Goldman Sachs Private Wealth Management's Nicole Pullen Ross said established leagues such as the NBA and NFL can resemble public equities, while emerging leagues resemble venture or growth equity, with women's sports and properties such as TGL, SailGP and the WNBA offering potentially greater upside.
Standard Chartered, which launched a sport-focused fund through its Global Private Bank in 2025, described women's sport as one of the most compelling growth stories, with audience, sponsorship and media coverage rising from low bases. Dr Yifei Zhang of the University of Hong Kong noted that sport retains a strong emotional element that makes it less predictable than other asset classes. The article also notes that Asian investors have historically been underrepresented in western major leagues, but are increasingly seeking exposure.
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