Capital and Governance
Private capital is now a permanent owner in sport
From 13 deals in 2014 to 71 deals worth 18.45 billion dollars by the end of 2025: what changed in the rules, who is buying, and what it means for owners.
PitchBook data cited by Fortune counts 13 private equity deals in sports teams and leagues worth 1.9 billion dollars in 2014, and 71 deals worth 18.45 billion dollars by the end of 2025 (Fortune, 31 July 2026). Private capital is no longer a guest in sport. It is an owner.
The rules opened the door
Baseball allowed institutional ownership first, in 2019, then basketball and hockey in 2021, and the NFL in 2024. NFL teams can now sell up to 10 % of their equity to qualifying funds. The NBA, NHL and MLS allow up to 30 % institutional ownership per team, and baseball raised the cap for a single fund from 15 % to 20 % in 2026.
Europe followed through leagues
CVC bought 13 % of the commercial company of French professional football for 1.5 billion euros in 2022, and 14.3 % of Six Nations Rugby for 365 million pounds in 2021. UEFA recorded 123 investment deals in European men's and women's club football in 2025, an all-time high, and controlling stakes changed hands at 29 top-division clubs.
What owners should ask
What the investor brings beyond cash, how long it stays, what governance it expects, and how the league's own rules shape the exit. These are the questions of Day 1 of the Forum, asked in a room where both sides are present, and answered in the closed Dealroom.
Sources and further reading
- Fortune, PitchBook data on sports deals (31 July 2026)
- Sportico, NFL private equity vote (August 2024)
- Akin Gump, institutional investment in sports (August 2024)
- CVC, the LFP commercial company (April 2022)
- UEFA, European Club Finance and Investment Landscape
Photograph: Pexels, licensed. No person shown is connected with the Forum.
