The Surge of Private Equity and Venture Capital in Sports

Inside the Capital Machine Powering Teams, Tech, and Leagues

For decades, owning a team was a billionaire’s hobby — a trophy on the mantelpiece. Today, it’s an investment strategy. From Wall Street to Silicon Valley, a new class of private equity and venture funds is turning sport into one of the world’s fastest-growing asset classes.

Franchise valuations are compounding faster than tech stocks, media rights have …