In pro sports, even the superrich are being priced out of owning a team
Private equity now backs 74 North American teams, Goldman Sachs says. Wealthy individuals increasingly get in through minority stakes, funds, and bank financing.
Even the wealthiest individuals are finding it increasingly difficult to afford ownership in professional sports teams, as demand outpaces supply, according to a new report from Goldman Sachs. Nicole Pullen Ross, a senior executive at the bank, stated that only a select group of the world's richest people can now afford to buy a team outright.
The report, which focuses on sports investing for the bank's private wealth clients, highlights the growing influence of institutional money in driving up team valuations and making it harder for high-net-worth individuals to secure control ownership.
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