At the 2024 Robin Hood Investors Conference, Marc Lasry, CEO and Co-Founder of Avenue Capital Group, and Michael Strahan, Emmy-winning journalist and former NFL star, discussed the shifting landscape of sports as an investment class. Moderated by Mary Callahan Erdoes of JPMorgan, their conversation revealed how new technologies, changing viewership habits, and athlete influence are transforming sports investments from simple ownership stakes into strategic, high-yield opportunities.
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The Big Picture: Surging Valuations and the Power of Media Rights
Lasry began by underscoring that sports franchise and media rights valuations are set to rise dramatically, fueled by digital streaming, artificial intelligence, and new technology integrations. He noted that sports have become uniquely valuable as an investment class, with franchises retaining and even growing fan bases despite on-field performance. Using the NFL as a case in point, he explained that even a winless team can still thrive financially. Fan loyalty, bolstered by diversified revenue streams from ticket sales, media rights, and sponsorships, makes sports franchises resilient assets in fluctuating markets.