Wealthy Families Investing in the Lucrative Sports Industry
Introduction
Families with extreme wealth often have unique investment strategies, and one area they have been increasingly turning to is the world of sports. According to a recent survey by Goldman Sachs, half of family offices have already invested in sports or are interested in doing so. From major leagues to social clubs, these ultra-rich families are finding ways to capitalize on the lucrative and ever-growing sports industry.
Key Details
One way that family offices are investing in sports is through purchasing minority stakes in professional sports teams. For example, the Glazer family, who owns the NFL's Tampa Bay Buccaneers, also holds stakes in other sports teams such as Manchester United and the Tampa Bay Lightning. Other families are investing in smaller, niche sports teams, like the Ricketts family who own the Chicago Cubs and also have a stake in the American Ultimate Disc League.
In addition to team ownership, family offices are also investing in sports media. The Kraft family, owners of the NFL's New England Patriots, have a stake in the sports media company, DraftKings. This allows them to not only make money through team ownership, but also through the media coverage and advertising surrounding the sports industry.
Impact
Investing in sports can be a lucrative and exciting venture for ultra-rich families, but it also has a larger impact on the sports world as a whole. These investments
