FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Feb. 15, 2023 /PRNewswire/ -- Fans of sports teams around the globe often think they know more about what their team (soccer, football, baseball, basketball etc) should be doing than the owners! Lots of people dream about owning a sports franchise, but those who actually fulfill that dream belong to a very exclusive club. For the rest of us, there are opportunities for fractional ownership of sports teams by investing in the corporate parents that own those teams. An article on The Motley Fool site said: "Sporting events have been around for thousands of years. For the vast majority of that time, they were largely a spectator event, and, outside of gambling, only the organizers and most talented contestants were able to make money from games. Today it's possible to be an investor in a select number of publicly traded sports companies. After a pause during COVID-19 pandemic lockdowns, sports are back and are as popular as ever. It could be a good time to take a swing at a sports-related investment." Investopedia added: "While professional sports may appear to be lucrative due to the huge player contracts, the reality is many team owners don't seek profits but an increase in value. Even before the global lockdown and quarantines disrupted play (and thus profits) of every professional sports league, the truth is a number of teams were consistently losing money. The value of franchises like the Dallas Cowboys, however, have increased in value year after year (since the pandemic). Active companies in the markets this week include: Brera Holdings PLC (NASDAQ: BREA), Manchester United (NYSE: MANU), Madison Square Garden Sports Corp. (NYSE: MSGS), FuboTV Inc. (NYSE: FUBO), DraftKings Inc. (NASDAQ: DKNG).
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