(Click here to subscribe to the Delivering Alpha newsletter.)

Investing in sports teams has long been seen as a lucrative venture, with the potential for great returns. However, it was typically reserved for the ultra-wealthy. Recently, major U.S. sports leagues have changed their ownership rules to allow private-equity firms to have minority stakes in teams. This shift has opened up new investment opportunities in the sports industry.

Since 2019, over $120 billion in private equity and venture capital funds have flowed into the sports sector, according to PitchBook. One notable player in this space is Sixth Street Partners, a $74 billion firm known for its expertise in direct lending and growth investments. Sixth Street has made significant investments in the sports world, including co-founding Bay FC in the National Women’s Soccer League and partnering with FC Barcelona and Legends. They have also led a strategic investment in the San Antonio Spurs basketball team.

In this article, we explore the potential returns and risks associated with investing in sports teams, as well as the changing dynamics of the industry.

Historically, investing in the sports space has yielded impressive returns. Between 2002 and 2021, the average price return for stakes in NFL, MLB, and NBA teams surpassed that of the S&P 500, with the NHL slightly trailing behind, according to PitchBook. However, it’s important to note that future returns may be lower than the previous 20-year period.

While minority stakes in sports teams were typically sold at a discount due to limited control, the increasing interest from institutional firms has narrowed this gap. Dedicated funds for sports investments have emerged, leading to heightened competition and potentially higher prices.

Given these factors, can someone lose money investing in sports? According to Alan Waxman, CEO and co-founder of Sixth Street Partners, it’s crucial to protect oneself from unforeseen circumstances, such as the COVID-19 pandemic. While he acknowledges the potential risks, Waxman emphasizes that Sixth Street aims to create customized solutions that both benefit the sports team and safeguard investors’ capital.

(Click here to subscribe to the Delivering Alpha newsletter.)

Investing in sports teams has long been seen as a lucrative venture, with the potential for great returns. However, it was typically reserved for the ultra-wealthy. Recently, major U.S. sports leagues have changed their ownership rules to allow private-equity firms to have minority stakes in teams. This shift has opened up new investment opportunities in the sports industry.

Since 2019, over $120 billion in private equity and venture capital funds have flowed into the sports sector, according to PitchBook. One notable player in this space is Sixth Street Partners, a $74 billion firm known for its expertise in direct lending and growth investments. Sixth Street has made significant investments in the sports world, including co-founding Bay FC in the National Women’s Soccer League and partnering with FC Barcelona and Legends. They have also led a strategic investment in the San Antonio Spurs basketball team.

In this article, we explore the potential returns and risks associated with investing in sports teams, as well as the changing dynamics of the industry.

Historically, investing in the sports space has yielded impressive returns. Between 2002 and 2021, the average price return for stakes in NFL, MLB, and NBA teams surpassed that of the S&P 500, with the NHL slightly trailing behind, according to PitchBook. However, it’s important to note that future returns may be lower than the previous 20-year period.

While minority stakes in sports teams were typically sold at a discount due to limited control, the increasing interest from institutional firms has narrowed this gap. Dedicated funds for sports investments have emerged, leading to heightened competition and potentially higher prices.

Given these factors, can someone lose money investing in sports? According to Alan Waxman, CEO and co-founder of Sixth Street Partners, it’s crucial to protect oneself from unforeseen circumstances, such as the COVID-19 pandemic. While he acknowledges the potential risks, Waxman emphasizes that Sixth Street aims to create customized solutions that both benefit the sports team and safeguard investors’ capital.

(Click here to subscribe to the Delivering Alpha newsletter.)

Investing in sports teams has long been seen as a lucrative venture, with the potential for great returns. However, it was typically reserved for the ultra-wealthy. Recently, major U.S. sports leagues have changed their ownership rules to allow private-equity firms to have minority stakes in teams. This shift has opened up new investment opportunities in the sports industry.

Since 2019, over $120 billion in private equity and venture capital funds have flowed into the sports sector, according to PitchBook. One notable player in this space is Sixth Street Partners, a $74 billion firm known for its expertise in direct lending and growth investments. Sixth Street has made significant investments in the sports world, including co-founding Bay FC in the National Women’s Soccer League and partnering with FC Barcelona and Legends. They have also led a strategic investment in the San Antonio Spurs basketball team.

In this article, we explore the potential returns and risks associated with investing in sports teams, as well as the changing dynamics of the industry.

Historically, investing in the sports space has yielded impressive returns. Between 2002 and 2021, the average price return for stakes in NFL, MLB, and NBA teams surpassed that of the S&P 500, with the NHL slightly trailing behind, according to PitchBook. However, it’s important to note that future returns may be lower than the previous 20-year period.

While minority stakes in sports teams were typically sold at a discount due to limited control, the increasing interest from institutional firms has narrowed this gap. Dedicated funds for sports investments have emerged, leading to heightened competition and potentially higher prices.

Given these factors, can someone lose money investing in sports? According to Alan Waxman, CEO and co-founder of Sixth Street Partners, it’s crucial to protect oneself from unforeseen circumstances, such as the COVID-19 pandemic. While he acknowledges the potential risks, Waxman emphasizes that Sixth Street aims to create customized solutions that both benefit the sports team and safeguard investors’ capital.

(Click here to subscribe to the Delivering Alpha newsletter.)

Investing in sports teams has long been seen as a lucrative venture, with the potential for great returns. However, it was typically reserved for the ultra-wealthy. Recently, major U.S. sports leagues have changed their ownership rules to allow private-equity firms to have minority stakes in teams. This shift has opened up new investment opportunities in the sports industry.

Since 2019, over $120 billion in private equity and venture capital funds have flowed into the sports sector, according to PitchBook. One notable player in this space is Sixth Street Partners, a $74 billion firm known for its expertise in direct lending and growth investments. Sixth Street has made significant investments in the sports world, including co-founding Bay FC in the National Women’s Soccer League and partnering with FC Barcelona and Legends. They have also led a strategic investment in the San Antonio Spurs basketball team.

In this article, we explore the potential returns and risks associated with investing in sports teams, as well as the changing dynamics of the industry.

Historically, investing in the sports space has yielded impressive returns. Between 2002 and 2021, the average price return for stakes in NFL, MLB, and NBA teams surpassed that of the S&P 500, with the NHL slightly trailing behind, according to PitchBook. However, it’s important to note that future returns may be lower than the previous 20-year period.

While minority stakes in sports teams were typically sold at a discount due to limited control, the increasing interest from institutional firms has narrowed this gap. Dedicated funds for sports investments have emerged, leading to heightened competition and potentially higher prices.

Given these factors, can someone lose money investing in sports? According to Alan Waxman, CEO and co-founder of Sixth Street Partners, it’s crucial to protect oneself from unforeseen circumstances, such as the COVID-19 pandemic. While he acknowledges the potential risks, Waxman emphasizes that Sixth Street aims to create customized solutions that both benefit the sports team and safeguard investors’ capital.

(Click here to subscribe to the Delivering Alpha newsletter.)

Investing in sports teams has long been seen as a lucrative venture, with the potential for great returns. However, it was typically reserved for the ultra-wealthy. Recently, major U.S. sports leagues have changed their ownership rules to allow private-equity firms to have minority stakes in teams. This shift has opened up new investment opportunities in the sports industry.

Since 2019, over $120 billion in private equity and venture capital funds have flowed into the sports sector, according to PitchBook. One notable player in this space is Sixth Street Partners, a $74 billion firm known for its expertise in direct lending and growth investments. Sixth Street has made significant investments in the sports world, including co-founding Bay FC in the National Women’s Soccer League and partnering with FC Barcelona and Legends. They have also led a strategic investment in the San Antonio Spurs basketball team.

In this article, we explore the potential returns and risks associated with investing in sports teams, as well as the changing dynamics of the industry.

Historically, investing in the sports space has yielded impressive returns. Between 2002 and 2021, the average price return for stakes in NFL, MLB, and NBA teams surpassed that of the S&P 500, with the NHL slightly trailing behind, according to PitchBook. However, it’s important to note that future returns may be lower than the previous 20-year period.

While minority stakes in sports teams were typically sold at a discount due to limited control, the increasing interest from institutional firms has narrowed this gap. Dedicated funds for sports investments have emerged, leading to heightened competition and potentially higher prices.

Given these factors, can someone lose money investing in sports? According to Alan Waxman, CEO and co-founder of Sixth Street Partners, it’s crucial to protect oneself from unforeseen circumstances, such as the COVID-19 pandemic. While he acknowledges the potential risks, Waxman emphasizes that Sixth Street aims to create customized solutions that both benefit the sports team and safeguard investors’ capital.

(Click here to subscribe to the Delivering Alpha newsletter.)

Investing in sports teams has long been seen as a lucrative venture, with the potential for great returns. However, it was typically reserved for the ultra-wealthy. Recently, major U.S. sports leagues have changed their ownership rules to allow private-equity firms to have minority stakes in teams. This shift has opened up new investment opportunities in the sports industry.

Since 2019, over $120 billion in private equity and venture capital funds have flowed into the sports sector, according to PitchBook. One notable player in this space is Sixth Street Partners, a $74 billion firm known for its expertise in direct lending and growth investments. Sixth Street has made significant investments in the sports world, including co-founding Bay FC in the National Women’s Soccer League and partnering with FC Barcelona and Legends. They have also led a strategic investment in the San Antonio Spurs basketball team.

In this article, we explore the potential returns and risks associated with investing in sports teams, as well as the changing dynamics of the industry.

Historically, investing in the sports space has yielded impressive returns. Between 2002 and 2021, the average price return for stakes in NFL, MLB, and NBA teams surpassed that of the S&P 500, with the NHL slightly trailing behind, according to PitchBook. However, it’s important to note that future returns may be lower than the previous 20-year period.

While minority stakes in sports teams were typically sold at a discount due to limited control, the increasing interest from institutional firms has narrowed this gap. Dedicated funds for sports investments have emerged, leading to heightened competition and potentially higher prices.

Given these factors, can someone lose money investing in sports? According to Alan Waxman, CEO and co-founder of Sixth Street Partners, it’s crucial to protect oneself from unforeseen circumstances, such as the COVID-19 pandemic. While he acknowledges the potential risks, Waxman emphasizes that Sixth Street aims to create customized solutions that both benefit the sports team and safeguard investors’ capital.

(Click here to subscribe to the Delivering Alpha newsletter.)

Investing in sports teams has long been seen as a lucrative venture, with the potential for great returns. However, it was typically reserved for the ultra-wealthy. Recently, major U.S. sports leagues have changed their ownership rules to allow private-equity firms to have minority stakes in teams. This shift has opened up new investment opportunities in the sports industry.

Since 2019, over $120 billion in private equity and venture capital funds have flowed into the sports sector, according to PitchBook. One notable player in this space is Sixth Street Partners, a $74 billion firm known for its expertise in direct lending and growth investments. Sixth Street has made significant investments in the sports world, including co-founding Bay FC in the National Women’s Soccer League and partnering with FC Barcelona and Legends. They have also led a strategic investment in the San Antonio Spurs basketball team.

In this article, we explore the potential returns and risks associated with investing in sports teams, as well as the changing dynamics of the industry.

Historically, investing in the sports space has yielded impressive returns. Between 2002 and 2021, the average price return for stakes in NFL, MLB, and NBA teams surpassed that of the S&P 500, with the NHL slightly trailing behind, according to PitchBook. However, it’s important to note that future returns may be lower than the previous 20-year period.

While minority stakes in sports teams were typically sold at a discount due to limited control, the increasing interest from institutional firms has narrowed this gap. Dedicated funds for sports investments have emerged, leading to heightened competition and potentially higher prices.

Given these factors, can someone lose money investing in sports? According to Alan Waxman, CEO and co-founder of Sixth Street Partners, it’s crucial to protect oneself from unforeseen circumstances, such as the COVID-19 pandemic. While he acknowledges the potential risks, Waxman emphasizes that Sixth Street aims to create customized solutions that both benefit the sports team and safeguard investors’ capital.

(Click here to subscribe to the Delivering Alpha newsletter.)

Investing in sports teams has long been seen as a lucrative venture, with the potential for great returns. However, it was typically reserved for the ultra-wealthy. Recently, major U.S. sports leagues have changed their ownership rules to allow private-equity firms to have minority stakes in teams. This shift has opened up new investment opportunities in the sports industry.

Since 2019, over $120 billion in private equity and venture capital funds have flowed into the sports sector, according to PitchBook. One notable player in this space is Sixth Street Partners, a $74 billion firm known for its expertise in direct lending and growth investments. Sixth Street has made significant investments in the sports world, including co-founding Bay FC in the National Women’s Soccer League and partnering with FC Barcelona and Legends. They have also led a strategic investment in the San Antonio Spurs basketball team.

In this article, we explore the potential returns and risks associated with investing in sports teams, as well as the changing dynamics of the industry.

Historically, investing in the sports space has yielded impressive returns. Between 2002 and 2021, the average price return for stakes in NFL, MLB, and NBA teams surpassed that of the S&P 500, with the NHL slightly trailing behind, according to PitchBook. However, it’s important to note that future returns may be lower than the previous 20-year period.

While minority stakes in sports teams were typically sold at a discount due to limited control, the increasing interest from institutional firms has narrowed this gap. Dedicated funds for sports investments have emerged, leading to heightened competition and potentially higher prices.

Given these factors, can someone lose money investing in sports? According to Alan Waxman, CEO and co-founder of Sixth Street Partners, it’s crucial to protect oneself from unforeseen circumstances, such as the COVID-19 pandemic. While he acknowledges the potential risks, Waxman emphasizes that Sixth Street aims to create customized solutions that both benefit the sports team and safeguard investors’ capital.