Sports as an asset class: The future is now

Once a passion project for hometown heroes or legacy billionaires, sport has entered a new era – one where it’s no longer just played or watched. It’s bought, built, scaled and monetized. Welcome to the age of sport as an asset class. 

The global sports market reached $463 billion in revenue in 2024, expected to expand to nearly $863 billion by 2033. What was once solely an emotional investment is now a legitimate, diversified and globally attractive platform – capable of delivering influence, returns, cultural relevance and long-term impact. 

At Elixirr, we bring the same commercial, operational and strategic excellence we’ve delivered across technology, financial services, consumer markets and the public sector – and apply it to sport. We simply treat sports organizations as what they are: businesses. Finally, the investment world is starting to agree. This shift is accelerating, demonstrated as private equity deals in sport nearly doubled between 2023 and 2024 alone. Private equity, sovereign wealth funds, venture capital and even celebrities are now approaching sport not as a side bet, but as a core portfolio play – and the same expectations for performance, governance and growth now apply. Sport is our new frontier and we’re bringing a proven playbook. 

The Elixirr ‘modern sporting landscape’ framework

We’ve launched a dedicated sports offering, built around our view of the modern sporting landscape, and what it will take to win in the years ahead. 

1. Sport as an asset class

The evolution of ownership – from passion to portfolio. From private equity and sovereign wealth to venture capital and multi-club structures, ownership models are becoming more sophisticated, global and strategic. 

2. Traditional revenue

The staples of sport – sponsorship, broadcast, ticketing and merchandising, still matter. But the model needs modernization, innovation and commercial rigour to keep pace with rising valuations and shifting consumer habits. 

3. Growth revenue

Fan engagement is moving from stadiums to screens. Revenue is growing through digital content, direct-to-fan experiences and media rights (which topped $10bn globally in 2024) driving revenue growth and global relevance – and that’s without the mention of e-sports, new leagues, formats and geographies. 

4. Athletes and audiences

The center of gravity is shifting. Athletes are brands. Fans are stakeholders. And storytelling, player empowerment and second-screen experiences are creating deeper relationships and more dynamic ecosystems. 

5. Data & digital

From instinct to insight: with global sports tech investment expected to reach $33 billion by 2028, the shift toward data, immersive technology and digital-first models is accelerating fast. The future of sport will be built on intelligence – across performance, content and commercial strategy. 

Our perspective

Sport is becoming one of the most investable, scalable and emotionally resonant industries in the world – but only for those who treat it with both commercial clarity and cultural sensitivity. At Elixirr, we’re working with clubs, leagues, investors and media platforms to do exactly that – delivering strategy, governance, brand, digital and operational enablement at every level. Sport doesn’t just need new owners. It needs new playbooks. 

Thought leadership series

To explore our perspective in more depth, we’re launching a five-part series – one for each of the pillars shaping the future of sport. We begin with the first, and arguably most frequently talked about, lens: 

Sport as an asset class

In this four-part series, we explore the key forces redefining ownership and investment in sport, and what it means for the future of the industry: 

Part 1: Multi-club ownership

Multi-club ownership has gone from trend to template. It’s not about owning more clubs – it’s about building a system. Are they an effective investment vehicle for both investors and the clubs themselves?

Part 2: Private equity in sport

Private equity is reshaping how sport is owned and operated – but the real challenge lies in execution. Can the same model that drives margin also deliver meaning?

Part 3: Sovereign wealth in sport

Sovereign wealth funds aren’t chasing returns – they’re building global influence through sport. Can long-horizon capital drive performance without losing local connection? 

Part 4: Celebrity ownership

Celebrity owners are changing what it means to ‘own’ a team – blending fandom, content and commerce. Can cultural capital be turned into competitive advantage? 

Final word

Sport is no longer just about performance. It’s about platform. Ownership is no longer just about control – it’s about capability, narrative, infrastructure and scale. We’re proud to be leading the conversation on how sport can evolve – not just with capital, but with clarity, creativity and commercial rigour. The playbook is changing and we’re helping write it. 

Stay connected

Keep an eye out as we release each article in the series over the coming weeks. 

If you’re investing in, operating, or advising in sport – and want to build a model that scales with purpose – get in touch here. We’ve helped organizations become great businesses across every sector. Sport is no different. Now, we’re bringing that success to the world’s most exciting industry.