Sports Teams Present Attractive Investment Opportunities for High Powered Investors
Arent Fox Sports Practice Group Leader Rich Brand was quoted in the Law360 article, “Skyrocketing Team Values Attracting Sophisticated Investors,” on the increasing trend in sports team ownership by wealthy investors.
Sports teams, long viewed as luxury purchases, continue to generate strong return on investment, attracting high powered, sophisticated investors. such as billionaire hedge fund manager David Tepper, who recently purchased the Carolina Panthers for a record-breaking $2.275 billion.
“When you buy an NFL or NBA team, you are doing something that almost no one else in the world can do. It is a precious asset. It is an exciting thing to do,” said Rich, adding that the combination of the relatively small number of sports teams and the even fewer that are actually for sale creates bidding wars that end up pricing out many would-be buyers.
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