cover of episode Investing in Sports: The Next Trillion Dollar Market?

Investing in Sports: The Next Trillion Dollar Market?

2024/11/15
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D
Dave Dase
全球体育投资银行业务共同负责人，领导金曼萨克斯的体育投资银行业务。
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Elis Jones
担任金曼萨克斯体育投资银行部门EMEA区域负责人，专注于欧洲体育市场的投资机会和趋势。
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Josh Harris
领导多个顶级体育团队和投资平台的亿万富翁和企业家。
Topics
Elis Jones 指出，体育市场的潜在市场巨大，随着技术发展触达范围更广，疫情凸显了体育产业的重要性，同时也暴露了其发展滞后性，存在巨大的投资和增长机会。欧洲体育联盟的所有权和收入分配模式与北美不同，导致欧洲体育吸纳了更多类型的资本，一级方程式赛车就是一个成功案例。Dave Dase 认为，体育投资回报与市场其他回报不相关，且具有长期性，对机构资本有吸引力。北美体育联盟的强治理结构既限制了资本进入，也提供了明确的运营模式和收入预期。体育球队应该被视为运营企业，其价值被低估了。投资者正在寻求体育投资的多元化盈利途径，整个体育生态系统的关键在于增加收入，控制成本并提供更多实用性。体育市场的潜在规模巨大，因为全球人口都是潜在的受众，并且许多体育联盟的每用户平均收入仍有很大提升空间。

Deep Dive

Chapters
The episode explores the shift in sports team ownership from personal investments to institutional capital, highlighting the changes in NFL ownership rules and the increasing valuations of sports teams.
  • Institutional capital like hedge funds and private equity firms were initially not allowed to buy sports teams.
  • The NFL was restrictive in allowing only a certain number of owners per team.
  • Sports team valuations have tripled in the last ten years, requiring more capital for investment.

Shownotes Transcript

The sports ecosystem has exploded as an area of investment, with professional leagues loosening rules on private equity ownership, the value of media rights deals skyrocketing, and the many sports-adjacent businesses taking on new dimensions. In the first episode of a four-part series on the changing dynamics in the business of sports, host Nicole Pullen Ross speaks to Apollo Co-Founder Josh Harris about what it means to own and run professional sports teams in the NBA, NHL, NFL, and English Premier League. She’ll also discuss the scale of the investment opportunity in sports with Dave Dase, Global Co-Head of Sports Investment Banking, and Elis Jones, Head of Sports Investment Banking for EMEA. Nicole Pullen Ross is Head of Sports and Entertainment for Goldman Sachs Private Wealth Management. She is also Head of the Private Wealth Management business for the New York region at Goldman Sachs.