A growing share of the world’s richest families are shifting their investment strategies toward sports franchises, transforming what were once status symbols into mainstream financial assets. A new survey from J.P. Morgan Private Bank’s 23 Wall division shows that ultra-high-net-worth investors are increasingly treating teams and arenas as long-term vehicles for both returns and influence.
The survey, conducted between March and August, polled 111 principals of private family investment firms representing more than 500 billion dollars in combined wealth. Twenty percent of respondents said they now own controlling stakes in sports teams, up sharply from six percent in 2022. Overall, 34 percent reported investing in sports assets, surpassing traditional luxury categories such as art, collected by 23 percent, and high-end cars, at 10 percent.
Sports valuations surge as family offices seek involvement
Andrew Cohen, executive chairman of J.P. Morgan’s global private bank, said the momentum behind sports investments is unlikely to slow. He highlighted rising franchise valuations supported by lucrative media rights agreements, sponsorships and global fan bases. The bank estimates that U.S. and European teams are worth a combined 400 billion dollars, with investment activity rising eightfold over the past five years.
Cohen said part of the appeal is that sports ownership offers direct engagement in ways passive luxury assets cannot. Many billionaire principals take board seats, participate in strategic decisions or attend operations meetings, blending business oversight with personal passion. The trend aligns with what the bank calls a shift toward families acting as “active architects” in their investments.
While financial returns matter, survey respondents also cited personal motivations. Some said ownership helped unify multigenerational families, while female investors reported supporting women’s sports to promote equality and expand opportunities for female athletes and executives.
Minority stakes and adjacent sectors gain traction
As valuations soar, competition for majority ownership has intensified, even pricing out some ultra-wealthy bidders. Cohen said that the rise in franchise prices is encouraging investors to explore alternative entry points. Options include buying minority stakes through syndicates, participating in ownership groups, investing in arenas or engaging in sports-adjacent sectors such as data analytics, ticketing platforms and merchandising.
Many large family offices now pursue multiple angles within the sports ecosystem. David Blitzer of Blackstone, the first person to own equity across all five major men’s U.S. leagues, has invested in at least six sports-related businesses this year through his family office Bolt Ventures. His portfolio includes a padel club chain and a betting app, reflecting how investors are expanding beyond traditional team ownership.
Sports assets shift from status symbols to strategic holdings
J.P. Morgan’s findings illustrate a significant evolution: sports teams are no longer viewed solely as prestige purchases but as structured investments with measurable returns and diversified revenue streams. Media rights deals, global fan engagement and the potential for international expansion have all helped transform franchises into durable asset classes.
Cohen said the emotional element remains a driving force, especially as families seek investments that build legacy as well as wealth. But increasingly, sports ownership is described as part of a broader strategy to blend financial performance with operational involvement and cultural impact.
As the industry continues to globalize, J.P. Morgan expects more family offices to treat sports as a core part of their portfolios. Whether through majority stakes, shared ownership or adjacent ventures, the report suggests that the ultra-wealthy now see sports as one of the most dynamic opportunities in the private investment landscape.
