A nice report on investing in sports teams, leagues, and related businesses from JPMAM.
Why now? Historically ownership of sports teams in the US was for the ultra-wealthy, but this is about to change.
“Forbes also constructs a valuation index for each league. As shown below on the left, these indexes have substantially eclipsed the S&P 500 since 2005. To be clear, sports teams are much more expensive than equities: most teams are now valued at 5x-12x sales compared to ~3x sales for the S&P 500.”
