When we think of professional athletes, we often picture dunks, goals, and touchdowns. But increasingly, the world’s biggest sports stars are making just as big a mark off the field. Once relegated to the role of brand ambassadors, professional athletes are now making a name for themselves as owners, investors, and architects of the next era of sports business.
Players like Patrick Mahomes, Breanna Stewart, Serena Williams, and countless others are becoming stakeholders in teams, leagues, and businesses across the sports landscape. Whereas before these athletes would have been content with diversifying their financial portfolios, they’re now reshaping the values and priorities of the entire industry.
And they’re not doing it alone.
Firms like Limited Ventures, led by managing partner Kai Cunningham, are working behind the scenes to help athletes navigate the world of investments, ownership, and equity. Cunningham recently noted in a Portfolio Players podcast that when it comes to sports, traditional investment metrics often don’t apply; the value of a team isn’t just measured in revenue streams, but in community, culture, and passion.
The Athlete Investor Revolution
The rise of the athlete-investor represents a shift from the past.
For decades, athletes were expected to earn during their playing careers and, if they were lucky, land a few endorsement deals to supplement their income. Ownership of sports teams — long considered the ultimate status symbol — was reserved for old-money tycoons and private equity billionaires.
Today, that dynamic is changing. Empowered by greater financial literacy, career-long brand building, and an appetite for influence beyond the playing field, athletes are stepping into ownership roles in leagues around the world.
American athletes like Tom Brady and J.J. Watt have invested in English football clubs – Birmingham City and Burnley FC. This reflects a broader trend of US investors seeking opportunities in international sports markets.
This trend is not surprising given the potential financial returns. In 2011, LeBron James invested $6.5m for a 2% stake in Liverpool FC. By 2024, this stake, converted into a 1% share in Fenway Sports Group, was estimated to be worth up to $100m, reflecting the substantial growth in sports franchise valuations.
The previously mentioned, NFL quarterback Mahomes, has stakes in MLB’s Kansas City Royals, MLS’s Sporting Kansas City, and the NWSL’s Kansas City Current. In 2020, fresh off the back of his first Super Bowl title and a $450m contract, he agreed to invest in the franchise – becoming the youngest part-owner in sports at 24 years old.
“I love baseball,” Mahomes said at the time. “I grew up in clubhouses. I love everything about it. When the Royals were bought last year by [John Sherman], I wanted to be a part of it. It took a little bit of time. These things take time.
“So it took almost a year to get the language right and doing it at the right time with everything going on in the world. But we were able to do it and they were able to let me join in with them and be a part of something that’s going to be long-term.”
Building a New Kind of Legacy
While salaries and endorsements come and go, an ownership stake offers permanence. It allows athletes to continue influencing the game long after their playing days are over.
Importantly, these investments aren’t limited to the sports athletes play. NFL’s Kyler Murray and Lamar Jackson, advised by Limited Ventures, are among the many athletes showing that cross-sport investment is the new normal. This diversification not only spreads financial risk but brings fresh perspectives to leagues that might otherwise grow stale under traditional management.
Private equity’s growing presence in sports ownership, particularly after the NFL updated its policies to allow minority private equity investment, means that opportunities for athletes to own slices of major franchises are greater than ever.
The door is open wider than it’s ever been — and athletes are walking through with purpose.
Changing the Culture of Sports Ownership
Athlete-owners are pushing professional sports into a new era — one that places greater emphasis on community, inclusivity, and innovation. These owners know firsthand what it’s like to play in front of thousands, to feel the weight of fans’ expectations, and to recognise the importance of mental health, equitable treatment, and building opportunities for the next generation.
In women’s sports, this change is particularly evident. Angel City FC‘s valuation recently topped $250m, making it the most valuable women’s sports team in the world. The club’s success shows that when athlete-owners invest in underserved markets, they don’t just make a difference, they make a profit.
Tennis legend Serena Williams, one of Angel City FC’s investors, has been vocal about her ventures into sports ownership, emphasising the broader impact of investing in women’s sports. When she joined the ownership group of the WNBA’s Toronto Tempo, she said:
“This moment is not just about basketball; it is about showcasing the true value and potential of female athletes — I have always said that women’s sports are an incredible investment opportunity.”
And the potential of women’s sports is only going to continue to grow. For instance, the WNBA secured a $200m annual media rights deal, highlighting the expanding commercial potential of women’s sports.
Athletes also bring an understanding of how today’s fans engage with sports. They’re often more willing to experiment with new technologies, social media engagement strategies, and community-building initiatives, helping to future-proof their investments.
The Road Ahead
Of course, the road to successful ownership is not without bumps.
Owning a sports team or investing in an emerging league requires deep industry knowledge, patience, and a tolerance for risk. Not every investment will be a slam dunk. As more athletes enter this space, the need for sound advisory services will become even more critical.
Moreover, athletes may still encounter systemic barriers. Ownership circles remain predominantly white and male, and cracking into the highest levels of team governance will require persistent effort and collective action.
Yet the momentum is undeniable.
