Next season maybe we’ll be watching PE executives joining in with endzone celebrations… sure the fans would love to see that. So what’s the hype? Well, a new report by financial advisory firm Oaklins reveals that M&A sports deals involving PE groups nearly doubled year-on-year, rising from 96 in 2023 to 190 in 2024. These deals are suddenly being viewed as real ‘trophy assets’ for GPs, as evidenced by Arctos Partners and Ares Management each acquiring 10 percent stakes in the Buffalo Bills and Miami Dolphins. Strong fan engagement, lucrative media rights and merchandising make sports team ownership a compelling opportunity. Oaktree Capital Management has also entered the arena with the acquisition of Inter Milan. And you can understand why. According to Pitchbook, US sports teams’ valuations have grown faster than the S&P 500 in recent decades. Just a quick word of warning to all new PE sports team owners…if you’re stood on the sidelines admiring your new team take care to avoid getting a Gatorade dunking!