Sports Franchises Are Becoming Family-Office Assets: The Investment Economics of Owning Scarcity
For most private businesses, high valuations can attract new competitors. If demand is strong enough, entrepreneurs can build another company, another hotel or another platform. Major professional sports franchises operate differently. Investors cannot simply create another top-tier team when valuations become attractive. Leagues control expansion, entry and ownership structures, making the supply of premier franchises […]
