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Is private equity’s sports boom really a bubble?

Will this year see a correction, or will more investors join the game?

Redbird Capital Partners' Gerry Cardinale might be all smiles at AC Milan, but he has called for more calm in sports investing
Redbird Capital Partners' Gerry Cardinale might be all smiles at AC Milan, but he has called for more calm in sports investing Photo: Claudio Villa/Getty Images

When Walmart heir Rob Walton bought the US National Football League’s Denver Broncos for $4.65bn in 2022, it became the highest price ever paid for a sports franchise.

Walton held his record for less than a year.

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