Bloomberg Surveillance · Wednesday, September 23, 2026
David Rubenstein, author of "Inside the Owner's Box," explains that the increasing value of sports franchises necessitates institutional money and private equity involvement. He notes that while direct control by such entities is not yet common in major American leagues, it is a potential future development.
“Well, the reason this is happening is in part because the values of franchises have gone up so much that very few individuals can buy a team.”
“Therefore, you need to get outside money. The NFL now allows teams to buy, certain private equity firms, to buy up to 10 percent. Other private leagues allow sovereign wealth funds to invest, all in minority stakes.”
“We haven't gone to the point yet where a private equity firm or a sovereign wealth fund can own a major American franchise in control, but that could happen down the road.”