Clifford Chance

Financial Investors Circle US Professional Sports Leagues

September 25, 2024

For many years, the ownership of US professional sports franchises was the preserve of wealthy individuals. However, that began to change in 2019, when Major League Baseball (MLB) eased its ownership and investment rules to permit financial investors to invest in its teams. Major League Soccer (MLS), the National Basketball Association (NBA), the National Hockey Association (NHL) and the National Women’s Soccer League (NWSL) soon followed suit and by early 2024, over 30 sports teams across these leagues had received some degree of financial investor backing. In August 2024, the National Football League (NFL) changed its ownership rules, becoming the last US major sports league to permit investments by financial investors. Notably, the NFL has taken a more conservative approach than the other US professional sports leagues.

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