Industry: Sports
Sports private equity
Funds now buy stakes in clubs, teams, leagues and golf courses, often under caps set by the league. Owners selling a stake, and funds raising money to buy one, need numbers that survive league approval and due diligence.
- Buyer, fund and lender lists by league and stake size
- CIMs, models and valuations for clubs, teams and sports funds
- Waveup prepares investor materials for sports clubs, teams and funds: $3B+ raised for 600+ startups since 2014
In short
What is sports private equity?
Sports private equity is money from investment funds that buys stakes in clubs, teams, leagues and the businesses around them. Most deals are minority stakes, because leagues cap what funds may own. Since August 2024, NFL teams can sell up to 10% to approved funds. Owners use the cash for liquidity, stadiums and facilities.
- Who it's for
- Club and team owners, leagues, multi-club groups, golf club owners and sports funds
- What we build
- Investor deck, CIM, financial model, valuation, buyer and investor list, data room
- Prices
- Deck from $6,000, model from $3,000. Flat fees
- Track record
- $3B+ raised for 600+ startups since 2014
Market data checked on 8 November 2026. Sources are under each section.
Why is private equity buying into sport in 2026?
Team values have outgrown what most single owners can fund, so leagues have let institutional money in. Funds bring cash for owners and stadiums, but they buy under caps, long holds and approval rules.
The opportunity
Owners want cash without giving up control, and funds want scarce assets with long contracts.
- NFL teams can sell up to 10% to approved funds
- Investors in European football are turning to second-division clubs and minority stakes
- Multi-club groups own clubs on several continents
The problem
Many clubs still spend more than they earn, and leagues limit what outside money can do. UEFA counted €1.1B of pre-tax losses at Europe's top-division clubs in its February 2026 report.
Market size
How much are sports teams worth in 2026?
PitchBook counts 77 major North American teams with private equity ties. Together they were worth $333.1B in October 2026. Four forces push values and deal flow:
- Shared league money: 66% of NFL revenue, in Sportico's data from February 2024
- Rising values: the average NFL team was worth $5.7B in 2024, Forbes data show
- New owners in Europe: nine US investors took control of top-division clubs in 2025
- Golf: the US had about 16,000 golf courses at the end of 2025
Private capital
How much private money goes into sport?
Sports investment worldwide reached $56B in 2024, McKinsey's tracker shows. Most of it went to companies around the game, not to clubs and leagues.
of 2024's total went to clubs and leagues, by our arithmetic on McKinsey's split
European top-division clubs changed control in 2025, UEFA counts
team stake for Sixth Street, when it closed its New England Patriots deal in November 2025
Which private equity firms invest in sports?
Two sports investment firms, a global investment firm, two club owners and a buyer of golf clubs.
Investor database
Sports and fitness investors in our database
The funds with the most sports investments. Pick a stage, or open a fund for its cheque sizes.
Top 5 by sports investments
Investments by industry
- Software & Apps32%
- Sports & Fitness13%
- Healthtech & Wellness8%
- Rounds
- Pre-seedSeedSeries ASeries B
- Average cheque
- $100K–$500K$500K–$1M$1M–$3M
- Based in
- Santa Monica, United States
- Invests in
- Israel, MENA, LatAm +5
279 investments in total, 10 tagged Sports & Fitness.Open the full fund profile
Investments by industry
- Software & Apps20%
- Sports & Fitness11%
- Gaming9%
- Rounds
- SeedSeries ASeries BSeries C+
- Average cheque
- Not listed
- Based in
- Menlo Park, United States
- Invests in
- East Asia, USA
367 investments in total, 10 tagged Sports & Fitness.Open the full fund profile
Investments by industry
- Healthtech & Wellness15%
- Sports & Fitness15%
- Hardware. Robotics & IoT8%
- Rounds
- SeedSeries A
- Average cheque
- $0–$100K$3M–$10M$10M–$50M
- Based in
- Los Angeles, United States
66 investments in total, 4 tagged Sports & Fitness.Open the full fund profile
Investments by industry
- Software & Apps17%
- Web 3.011%
- Fintech & Financial services11%
- Sports & Fitness6%
- Rounds
- Pre-seedSeedSeries A
- Average cheque
- $0–$100K$100K–$500K$500K–$1M$1M–$3M
- Based in
- Miami, United States
- Invests in
- Southeast Asia, USA
23 investments in total, 3 tagged Sports & Fitness.Open the full fund profile
Investments by industry
- Software & Apps17%
- E-commerce & Retail14%
- Transportation & Mobility5%
- Sports & Fitness5%
- Rounds
- Pre-seedSeedSeries A
- Average cheque
- $500K–$1M$1M–$3M$3M–$10M
- Based in
- Canada
194 investments in total, 3 tagged Sports & Fitness.Open the full fund profile
From our investor database.
What makes a sports deal hard to close in 2026?
In our Fundraising 2025 study, 56 VCs named revenue growth, unit economics, burn and missed milestones as top reasons to pass. Defensibility and crowded categories came next. Sports buyers test the same numbers, then the rules around them.
Long holds and no vote
A fund that buys into an NFL team must hold the stake for six years. It gets no vote on how the team is run.
What investors ask
- How and when can we sell this stake, and to whom?
What your deck shows
- Every league rule that applies to the stake, with its date
- Exit routes: the control owner, another fund or a recap
Rising costs at clubs
Costs other than wages will take 36% of club revenue in 2025, UEFA projects. That share is the highest in 15 years.
What investors ask
- When does the club cover its costs without new money from its owners?
What your deck shows
- Revenue by line: media, matchday, sponsors and player sales
- Wages and other costs as a share of revenue, season by season
Debt the league caps
A typical US major-league team borrows about 10% of its value, Apollo estimates. League debt rules help keep that share low.
What investors ask
- How much debt can the team carry, and who must approve it?
What your deck shows
- Debt capacity under league and lender limits
- Cash flow after wages, stadium costs and interest
Owner tests and shared clubs
Since February 2026, England's football regulator has 90 days to rule on a new owner, longer if extended. UEFA also keeps clubs with a shared owner apart in its competitions.
What investors ask
- Will every league and regulator approve the new owner, and when?
What your deck shows
- A map of every owner, stake and linked club
- A timeline for each approval, from league to regulator
How we help you raise
Flat fees agreed before we start. No success fee on advisory work.
The asset, its income and the league rules in one story.
Media, matchday, sponsor and wage lines, season by season.
A price range set against league multiples and recent stake sales.
Sports funds, club groups and family offices that fit the stake.
Player contracts, media deals, debt and league filings, in order.
For a club sale, a minority stake or a golf club recapitalisation.
Our sports projects include a football fund, a football club platform and a players' association. Below: a lender deck for a sport and dining show, a $50M first fund and an acquisition loan.
Who we are
Waveup is a London-based fundraising and growth advisory, working in 60+ countries and 90+ industries. Since 2014 we have built the decks, models, CIMs and valuations behind $3B+ raised for 600+ startups. 30% of our clients are funds; fund raises from $10M to $300M+.
About usSports private equity FAQ
Are any sports teams owned by private equity?
What are the biggest private equity firms in sports?
Is private equity good for sports?
How do sports teams make money?
How do golf courses get financing?
How much does help with a sports raise or stake sale cost?
Raising for a club, team or sports fund?
Send us the asset, the stake on offer and the league it plays in. We'll map the buyers and the approvals before you start talks.
