Institutionalizing sports investing
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Buying ownership stakes in professional teams has become a new credential for the most successful investors. A new PitchBook analyst note goes into detail about why that trend may continue, but with an institutional twist. In the last handful of years, the NBA, MLB and MLS have all altered their ownership rules to allow minority investments by PE-style funds into multiple teams. The return prospects are compelling—minority stakes investors target 15% to 20% in annual returns.