Celebrities are becoming players in the sports world with increasing frequency, trading on their fame and fortune to secure supporting roles as team owners for professional franchises in the U.S. and abroad. It’s a sign that sports teams are being recognized as appreciating assets, no longer as just trophy assets of old-money families and newly minted billionaires.
The higher valuations in more established franchises and leagues mean even small stakes in teams require bigger bank accounts than just a few years ago. Many celebrities may not be able to stroke the type of multibillion-dollar check that sports investment banker extraordinaire Sal Galatioto says it takes to buy a Big 4 team, but they can afford to get a piece of a team by investing less money alongside another coveted asset: a devoted fan base of followers. With their social media accounts and public platforms, stars can exponentially expand a pro team’s reach to new and existing fans.
