Where the Wealthy Are Betting Big on Sports

The rich are putting their money into sports, but not in a balanced way. They are focusing mostly on major leagues like the NFL and NBA. This leaves smaller leagues and women's sports with less attention and funding. A recent study found that a significant number of wealthy families have already invested in sports. Even more are considering it. This trend is notable because, while they are investing less in startups, sports remain a priority for them. For instance, Julia Koch recently acquired a stake in the New York Giants. Mark Walter, CEO of Guggenheim Partners, spent a massive $10 billion on a significant portion of the Los Angeles Lakers. Additionally, some families from the Bay Area have invested in the San Francisco 49ers. However, these investors are not keen on supporting women's sports or minor leagues. Only a few have invested in or are considering women's leagues, despite their growing popularity. Even fewer are interested in men's minor leagues. There are some exceptions. A few billionaires have recently purchased WNBA teams, but their motivation is not quick profits. They are betting on the long-term value of these teams. So, why do the wealthy prefer big-league sports? Meena Flynn from Goldman Sachs suggests it's about passion and patience. These investors can afford to wait for their investments to grow. But here's a critical question: Is it fair that the wealthy are only backing the big leagues? Shouldn't they also support smaller or women's sports? It's a topic worth pondering, especially as these sports gain more popularity.