Professional sports franchises have become stable, strategic investments for high-net-worth individuals. With limited supply and growing global revenue, their value has climbed steadily. Marc Lasry, co-founder of Avenue Capital Group, sees franchise ownership as a structurally sound, long-term asset.
This shift reflects a broader evolution in how teams are managed, not just as sports organizations, but as diversified commercial enterprises, leveraging media rights, branding, real estate, and tech to drive returns.
Scarcity and the Supply-Demand Imbalance
Franchise availability is limited by design, and that scarcity drives competitive valuations.
Why Fixed Team Numbers Drive Value
Professional leagues place firm limits on the number of teams in circulation. Whether it’s the NBA, NFL, or the Premier League, expansion is slow and tightly controlled. This creates a natural cap on availability, driving intense bidding activity whenever a team becomes available.
The Celtics Example and Lasry’s Perspective
That dynamic is a critical reason why these assets have appreciated so reliably. Institutional buyers and billionaires alike now compete for entry, with recent transactions underscoring the magnitude of this demand. The Boston Celtics, one of the NBA’s most storied franchises, were recently valued at $6.1 billion—a number that reflects both performance and long-term market positioning.
In a recent Marc Lasry value of pro teams building interview, the investor underscored how such valuations are driven not only by team success but by the infrastructure and brand equity that ownership groups build around them. That holistic strategy, according to him, is what positions franchises to outperform traditional assets over time.
Built-In Loyalty and Intergenerational Appeal
These assets come with cultural weight and multigenerational support that protects long-term value.
Loyalty as a Financial Asset
While many investments depend on fluctuating demand cycles, sports teams offer built-in stability. Fan loyalty is generational, not transactional. People support teams with a passion that outlasts economic cycles, political shifts, and technological disruption.
Stability of Revenue Channels
From Lasry’s perspective, this loyalty also translates into consistent revenue. Matchday income, merchandise, digital content, and licensing combine to form a business model with multiple income channels. For investors seeking reliable yields in uncertain times, that consistency is hard to match.
Innovation Is Expanding Revenue Potential
Modern sports franchises are now behaving more like media and tech firms than traditional clubs.
Revenue Beyond the Stadium
Teams have increasingly adopted a corporate structure that mimics media companies or diversified conglomerates. Revenue now comes from a spectrum of sources—streaming deals, virtual fan experiences, international games, and brand extensions.
New Tech, New Income
Betting partnerships, mobile engagement tools, and e-commerce platforms have further improved monetisation opportunities. These innovations are not only enhancing income but also attracting younger demographics who consume sports content differently. For Lasry, such evolution only reinforces the long-term investment case.
Performance Backed by Strategic Ownership
Case studies of smart ownership highlight why this asset class continues to deliver results.
The Milwaukee Blueprint
Lasry’s past investment in the Milwaukee Bucks provides a clear view into how thoughtful ownership yields measurable returns. During his tenure, the club grew its market value, secured corporate partnerships, and clinched an NBA championship. Upon exit, the uplift in valuation demonstrated that the model works, especially when backed by capable management and forward-thinking operations.
Rising Valuations Across the Board
The Milwaukee Bucks model is being replicated across leagues. Ownership groups are professionalising operations, investing in data analytics, and focusing on international growth. As a result, even mid-tier teams are becoming billion-dollar entities, regardless of their win-loss record.
Global Reach Strengthens the Investment Case
With international audiences, the market for sports franchises is bigger than ever before.
Borderless Brand Growth
Sport is no longer confined by geography. American teams have fans in Asia, Europe, and Africa. Merchandise is shipped globally. Games are broadcast in dozens of languages. This worldwide reach enhances brand visibility and gives franchises the scale and influence of global corporations.
Global Demand for Media Rights
Lasry sees this globalisation as a multiplier effect. The more accessible teams become to international audiences, the more valuable their digital and media rights will grow. This expansion plays directly into the playbook of institutional investors who favour scale, sustainability, and high-margin operations.
Capital Is Flowing In—and Fast
Private equity, hedge funds, and sovereign wealth funds are increasingly entering the sports space. What was once the playground of wealthy individuals is now drawing interest from sophisticated institutional players. That trend is accelerating, and valuations are rising accordingly.
