Move beyond traditional high-net-worth assets such as art sales and classic automobiles. Contemporary billionaires are now directing substantial funds toward their preferred sports franchises, transforming them into significant investment opportunities.
TL;DR
- Billionaires are now prioritizing sports teams over art and cars as their top investment.
- Ownership of sports teams has shifted from a hobby to a strategic business move for the wealthy.
- JPMorgan reports 34% of principals allocate funds to sports teams and arenas, surpassing art and cars.
- The share of billionaires holding controlling stakes in sports teams has jumped to 20% from 6% in 2022.
Sports team ownership has evolved from a pastime for the affluent to a strategic business move for top global earners, diverging from traditional luxury investments, as indicated by a recent survey from JPMorgan Private Bank.
Indeed, investing substantial earnings into sports teams and venues represents the primary alternative asset for these extremely affluent families. The bank reported that 34% of principals allocate funds to teams and arenas, contrasting with 23% for art and 10% for automobiles.
The report was part of JPMorgan’s 23 Wall division, which advises the wealthiest 0.01%. It surveyed 111 billionaire family-office principals controlling more than $500 billion in assets, and the share of those holding controlling stakes in sports teams has leaped to 20%, up from just 6% in 2022.
Mark Walter, among other billionaires, has been profiting from transactions totaling approximately $10 billion.
The CEO of Guggenheim Partners, Mark Walter, is a prime example of this emerging investment pattern. After receiving the green light from The National Basketball Association, he purchased a controlling interest in the Los Angeles Lakers for a sum close to $10 billion.
Walter also owns the L.A. Dodgers. His net worth is valued around $7.3 billion.
Other wealthy individuals such as Mark Cuban have also experienced substantial profits from their sports franchises. Back in 2000, Cuban acquired the Dallas Mavericks for approximately $285 million, subsequently divesting his controlling interest in late 2023 for close to $3.5 billion.
Private equity is growing within professional sports organizations, and women's sports present a significant area for investment.
Billionaires' involvement in sports is a two-way street, with major sports leagues such as the NBA and NFL also increasing their presence in private equity.
Nearly two-thirds of NBA teams entering the current 2025-26 season have at least some connection to private-equity money, a report found. That shift signals both rising valuations and institutional investors’ growing sway in professional sports.
“This is a business pleasure, and something we really want to do,” one principal wrote in the report. “We are making a lot of money over time.”
“Twenty years from now, people will not believe that you could acquire a women’s team for $100 million,” another said.
There's increasing interest in women's sports. According to a separate study by McKinsey & Company , women's sports have the potential to generate a minimum of $2.5 billion in value for rights holders in the U.S. By 2030, marking a 250% surge from the $1 billion generated in 2024.