An interesting 24 hours in the world of sports finance with National Football League (NFL) legend JJ Watt and wife Kealia, former National Women’s Soccer League (NWSL) and USWNT player investing in Burnley Football Club who are returning to The Premier League next season.
As well, Hip-hop artist & entrepreneur Snoop Dogg has joined a group led by LA entrepreneur Neko Sparks bidding to own the National Hockey League (NHL)’s Ottawa Senators Hockey Club and competing against actor Ryan Reynolds who is a co-owner of Wrexham AFC and part of the The Remington Group’s bid.
More and more athletes & celebrities are investing in pro sports teams & have the potential for an even greater impact than may be initially evident and are also examples of the increasing global intersection of:
1️⃣Increased Access to Invest in Sports Teams
Rising team valuations make it difficult for one or a few individuals to own teams and leagues are making it easier to invest in teams. Teams want to diversity their cap tables and include athletes and celebrities that can increase the teams’s global profile.
2️⃣Sports Legends Promoting Leagues/Teams on Other Continents
JJ Watt will help drive exposure for Burnley and Premier League football in the US to NFL Fans.
3️⃣Sports Docuseries Inspiring Others
Ryan Reynolds and Rob McElhenney saw their franchise’s value skyrocket with “Welcome to Wrexham” and have also positively impacted the community in Wrexham. In interviews the Watt’s mentioned that they were inspired by the “Welcome to Wrexham” series.
4️⃣The Global Growth of Women’s Sports
In an ESPN interview regarding Burnley Keila Watt mentioned “In the US, I’ve seen the NWSL grow into something really incredible, and we’d love to be a part of growing the women’s team here and be a part of their journey.”
5️⃣Diversity in Sports
Snoop Dogg recently posted on his IG said ”I wanna bring hockey to our community.” If his group’s Senators bid is successful it will be the most diverse ownership group in the NHL.
6️⃣Purpose In Sports-The Importance of Community
JJ Watt is well known for his extensive fundraising & community work when he played for the Houston Texans. Burnley will benefit from Watt’s passion to give back to the community.
7️⃣Celebrity Team Brand Building
Snoop Dogg has long been a huge fan of the NHL He is deeply connected in the media & entertainment industry & known for endorsing and creating commercial brands. Imagine the global exposure he could generate for the Ottawa Senators globally by leveraging his over 100 million social media followers or trying his hand at broadcasting like Peyton Manning & eli manning.
This list is just a start and please comment with other examples. Asia Sports Tech is working on several opportunities across the above themes – Reach out to us to learn more!