Weekend Sports Roundup: Latest sports updates from the realm of private equity
Private Equity Firms Transform Professional Sports Ownership Landscape
In a significant shift, private equity (PE) firms are increasingly investing heavily in sports teams and organizations, marking a transformative change in the sports ownership landscape. This trend, prevalent in 2025, includes both majority acquisitions of individual teams and the creation of multi-club ownership groups.
One of the key developments is the sale of the Boston Celtics to a PE-led group headed by Bill Chisholm for $6.1 billion, setting a record for an NBA team sale. The Los Angeles Lakers’ majority stake sale to Mark Walter, CEO of TWG Global, for an estimated $10 billion, and the 2023 acquisition of the Washington Commanders by a consortium led by Josh Harris of Apollo Global Management for $6.05 billion, are other notable examples.
Major leagues like the NBA, MLB, NHL, MLS, and recently the NFL have relaxed ownership restrictions, allowing PE funds to acquire minority stakes (up to 10% in the NFL). This move has opened billions in new investment opportunities.
The emergence of multi-club ownership models is another notable trend. The Friedkin Group’s launch of Pursuit Sports, overseeing several football clubs including AS Roma, Everton FC, and AS Cannes, exemplifies this approach. Multi-club ownership enables operational synergies such as shared technology, data, medical staff, and back-office systems, maximizing scalability and efficiency.
Industry leaders view PE involvement as injecting liquidity and financial flexibility into traditionally family-owned franchises, allowing reinvestment for growth, despite some fan concerns over potential price increases.
While professional sports have embraced PE investments briskly, college sports conferences like the Atlantic Coast Conference (ACC) remain cautious, still evaluating private equity participation alongside emerging revenue streams like sports betting.
In the UK, Powerleague, the largest five-a-side football operator, has recently experienced a change in ownership. Broadsword Investment Management has acquired a majority stake in Powerleague. The company, founded in Paisley and currently operating 43 clubs across the UK, manages over 250 third-party venues offering football and netball. Powerleague has nine million annual customers.
Justin Ishbia, founder of Shore Capital Partners, has agreed to acquire a controlling stake in the Chicago White Sox. The acquisition will accelerate Powerleague’s growth and diversification into new sports. Ishbia has already bought out a number of minority investors, and the deal positions Ishbia to become majority owner as early as 2029.
In another development, EQT is reportedly preparing a bid worth approximately £500m ($675m) to acquire WRC Promoter, the commercial rights holder of the World Rally Championship (WRC). No comments were made by WRC regarding the sale exploration.
Lastly, Velocity Capital Management, Elevate, and the Texas Permanent School Fund Corporation have launched a $500m fund targeting commercial and infrastructure investments across US college sports.
These developments underscore the growing role of private equity firms in professional sports ownership, utilizing both large team purchases and multi-club portfolios. However, interest in PE by collegiate sports remains tentative.
- Bill Chisholm, heading a PE-led group, bought the Boston Celtics for a record $6.1 billion, highlighting PE firms' increasing investment in sports.
- The Los Angeles Lakers' majority stake and the Washington Commanders were also sold to PE groups, with estimated values of $10 billion and $6.05 billion respectively.
- Major leagues have eased ownership restrictions, enabling PE funds to acquire up to 10% minority stakes in teams.
- The Friedkin Group, a PE-backed company, launched Pursuit Sports, managing multiple football clubs, demonstrating the rise of multi-club ownership models.
- Industry leaders argue that PE investment injects liquidity into traditional sports franchises, allowing for reinvestment and growth, although fan concerns over price increases persist.
- Powerleague, the UK's largest five-a-side football operator, experienced a change in ownership, with Broadsword Investment Management acquiring a majority stake.
- Justin Ishbia, founder of Shore Capital Partners, agreed to acquire a controlling stake in the Chicago White Sox, further expanding PE firms' presence in professional sports.
