SEATTLE, WA – SEPTEMBER 07: George Kittle #85 of the San Francisco 49ers celebrates with fans and teammates after scoring a touchdown against the Seattle Seahawks during the game at Lumen Field on September 07, 2025 in Seattle, Washington. (Photo by Robin Alam\/Icon Sportswire via Getty Images)<\/p>\n
Icon Sportswire | Icon Sportswire | Getty Images<\/p>\n
A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer.\u00a0Sign up<\/a>\u00a0to receive future editions, straight to your inbox.<\/p>\n While ultra-wealthy families and their investment firms are investing in fewer startups<\/a>, they are still clamoring for a piece of the action when it comes to sports.<\/a>\u00a0<\/p>\n According to a new survey by Goldman Sachs, 25% of family offices have invested in sports or related assets like ticketing or arenas, and another quarter are interested in doing so.<\/p>\n Last week, Julia Koch, the widow of billionaire David Koch, and her family agreed to buy a minority stake<\/a> in the NFL’s New York Giants, according to Bloomberg<\/a>. In June, Guggenheim Partners CEO and billionaire Mark Walter reached a deal to buy a majority stake in the NBA’s Los Angeles Lakers<\/a> at a valuation of $10 billion. And a trio of Bay Area families, including venture capitalist Vinod Khosla’s, bought a 6% stake in the San Francisco 49ers<\/a> in May.<\/p>\n However, while women’s leagues and emerging sports like pickleball have garnered more buzz, investor appetite hasn’t caught up, according to the bank’s survey. Only 19% of 245 family offices said they had invested in or are interested in investing in women’s established leagues, while 71% expressed interest in major men’s leagues. A smaller percentage (16%) indicated past investment or interest in women’s emerging leagues or men’s minor leagues.<\/p>\n There are some high-profile examples, with a cohort of billionaire investors securing three new WNBA team franchises<\/a> in June. However, these investors are betting on future equity growth rather than cashflow for financial return, as previously reported by CNBC’s Alex Sherman<\/a>.<\/p>\n Goldman Sachs’ Meena Flynn told Inside Wealth that family offices, which invest for the long term, can afford to be patient with team ownership, no matter what kind of sports they’re getting into.<\/p>\n “It really combines their interests from a passion perspective as well as long term value creation,” she said.<\/p>\n Get Inside Wealth directly to your inbox<\/p>\n Moreover, family offices see sports as hedges against inflation since they have multiple revenue sources such as streaming rights and ticketing, according to Flynn, Goldman Sachs’ co-head of global private wealth management.<\/p>\n