Preferred Parking’s Post

A group of buyers acquired the Boston Celtics for $360 million in 2002. In 2024, after winning a championship and signing two of the largest contracts in NBA history with Jayson Tatum ($314M, 5 years) and Jaylen Brown ($304M, 5 years), they're putting the Celtics up for sale. Estimates for the final transaction are $4 billion+ (surpassing the sale of the Phoenix Suns in 2022). Two things: 1. The growth in valuation is a huge reason why investing in sports franchises (and their Netflix documentary counterparts) are so hot right now: Michael Jordan and the Charlotte Hornets, A-Rod and the Timberwolves, Ryan Reynolds and Wrexham AFC + Alpine (F1), David Beckham and Inter Miami FC, etc. There's a lot of attention and money that goes into sports, and men's sports in particular, especially if you've got anchor stars that are driving that attention. 2. Signing the largest player contracts in NBA history, then walking away so someone else pays for it - that's a mic drop if I've ever seen one 😂

It's incredible to see the Bay Area and the Golden State Warriors invest in women's sports! Smart decision all around. We're seeing so much more interest and viewership for the WNBA, Women's NCAA, soccer, tennis, and much more. This change hasn’t occurred in a vacuum, it’s the result of brands, broadcasters, and advertisers investing in and prioritizing women’s sports. This is so much more than low-hanging fruit. Some fun stats for you: ⭐️ The 2023 WNCAA tournament drew nearly 10 million viewers for the final game between Iowa and LSU—up 103% from the previous year.  ⭐️ Nearly 3.4 million people watched Coco Gauff win the U.S. Open, while 2.3 million tuned in for Djokovic’s fourth U.S. Open win. Gauff's championship was the most-viewed women’s final of any tennis major ever broadcast on ESPN, and viewership was up 92% from the last year's women’s championship. ⭐️Nielsen analysis found interest in the Women’s Super League increased 81% from 2022 to 20232, and this year, 41% of the global population is excited for the Women’s World Cup, rising from 34% before the 2019 Women’s World Cup. ⭐️Speaking of the World Cup, according to Nielsen 69% of Women’s World Cup fans believe brands are more appealing when they participate in sports sponsorships—that’s 15 points higher than the general population. EVERYONE benefits from supporting women's sports. The excuse that people just "don't watch" or are "not interested" in women's sports is just straight up false. The interest is there, and broadcasting and advertising it more widely to get more eyes is advantageous to all - the fans, the players, advertisers, brands, and franchises. Oh yeah, and then let's pay the women more fairly as well 😉 I'll be the first one in line at the Chase Center to cheer them on 🎉 Congratulations to the Bay Area and the WNBA (Women's National Basketball Association). 2025 cannot come soon enough! Sources: https://lnkd.in/gPh-StXs https://lnkd.in/gva3r_Tr #WNBA #WomensSports #GenderEquality

Celtics are on the block after taking NBA title. The team’s ownership group, Boston Basketball Partners LLC, has decided to sell the franchise for estate and family planning considerations, according to a Celtics statement. The owners expect to sell a majority interest this year or early 2025, with the remainder closing in 2028. The Celtics are going on sale at a time of surging valuations for pro sports teams. That’s prompted more franchises to sell minority stakes or offer up control. In the past year, the NBA alone has seen three franchises change hands, with the Phoenix Suns, Charlotte Hornets and Dallas Mavericks all going for $3 billion or more. Sportico values the Celtics at $5.1 billion, the fourth-highest in the league. The current ownership group, led by Wyc Grousbeck and including Stephen Pagliuca, bought the team for $360 million in 2002. #estateplanning #premiumfunding #lifeinsurance #premiumfinance #taxstrategies #estatetax #PPLI

The recent trend of casino families acquiring stakes in professional sports teams is a notable development. This aligns seamlessly with the strategic direction of Sports Kitchen Entertainment Group, as we are actively establishing our own sports enterprises, media platforms, and a comprehensive representation network for multiple sports and athletes. The rationale behind our approach is grounded in economic realities. The acquisition of a sports team, often costing billions of dollars, inevitably leads to increased prices for tickets, broadcasting rights, branded merchandise, and overall fan engagement. Such high expenditures can seldom be recuperated without imposing financial burdens on the fan base. In contrast, our vision is to construct a future where fans are not merely spectators but stakeholders. We aim to democratize the ownership of sports entities, thereby returning sports to its rightful owners - the fans. While our strategy is more intricate than this brief overview, the essence is to foster a more inclusive and financially accessible sports environment. #sportsbusiness #GamblingIndusrty #SportsBetting #Casino #Mavericks #MarkCuban #Adelson #LasVegasSands #DallasMavericks #NBA #LasVegas

It's not surprising that the NFL--BY FAR the most competitively balanced league in professional sports--is the most valuable on a per-team basis. But to also have 30 of the top 50 most valuable franchises worldwide? Wild. Whether we like it or not, the parity trend we're seeing (F1 car redesigns, CFB realignment, push for European Super League, etc.) is only just beginning. Too much value on left on the table otherwise. https://lnkd.in/gZsxMirQ

Minor league baseball is a major business. There’s 1 company knocking it out of the park you may not have heard of. Diamond Baseball Holdings. They own and operate ~30 MiLB clubs, with a goal to get to 50. If they achieve this, they will own 42% of the market. There are a few reasons why this business model makes sense for DBH: 1) Centralize operations to reduce costs 2) Implement an operational playbook to create more efficient clubs 3) Sell national brand partnerships 4) Ride the wave of sports team valuations The recent Woo-Sox acquisition was for $70M (the same team was acquired for $25M in 2015) which shows there is big growth potential with these teams. Keep your eye on DBH as they continue to expand in MiLB. #baseball #MiLB #Sportsbiz #Linkedinsports

Goldman solidifying its sports advisory practice speaks volumes to the potential they see in the marketplace for HNW individuals and entities to join the growing demand for ownership in major league sports. Will be interesting to see how the leagues (MLB, NBA, NFL, NHL) amend their ownership rules to allow for minority investments by firms. The NBA has already acted, curious to see how others follow #sportsbiz #sportsbusiness #goldmansachs #teamownership https://lnkd.in/ea3r2jCW

#BusterOlney posted this "Within other organizations, there is a lot of disgust with how the A’s have handled the ballpark situation — especially when there’s no actual ballpark plan settled in #LasVegas. And there is an assumption the A’s will tank in the next few years, because their #revenuestream will be down to a trickle. 'This makes us all look bad,' said one person." Lets be honest the Oakland Athletics would not be in this situation if it wasn't for these so called "other organizations." They unanimously #approved #Vegas without a legitimate plan for #JohnFisher and #DaveKaval. Also, it is not like Fisher has not relied on "revenue sharing," signed their top prospects to long-term deals, or done anything to continue to keep the A's competitive when the franchise started winning. So who has enabled the #Athletics? Those who are now complaining about a team that is willing to play for at minimum in a #minorleagueballpark for three seasons, possibly more while a nonexistent stadium in another state may not even come to fruition. While completing ignoring that the city of #Oakland finally stood ground against the A's. Got nearly $1 billion in funding to build a ballpark at #HowardTerminal. We're not buying what other organizations are saying Buster. Then again it is also sad said person could not put a name to their face for when they said "this makes us all look bad." Sorry but Major League Baseball (MLB) and owners have looked bad for a long time when it comes to the situation regarding Oakland. Funny thing is this all could have been avoided if #MLB had a #legitimateleadership and a #competent #commissioner.

🏀 In 2002, Wyc Grousbeck bought the Boston Celtics for $360 Million. In 2023, the Celtics were valued at $4.7 Billion. That's an increase of 1200%. Grousbeck is now looking to sell the team and it will likely sell for a value much higher than $4.7 Billion considering the continuing increase of team values and the positive momentum specifically for the Celtics, which includes winning the NBA Championship this year. While I expect NBA team values to keep growing, it's a great time for Grousbeck to sell after such a strong return on investment. NBA Teams are a fantastic investment and the Boston Celtics are such a cultural monument that the next person or group who buys the Celtics will have not only a power house sports team with religiously devoted fans, but also a great financial investment for the future. In 2001, the average value of an NBA franchise was $207 Million. In 2023, the average value of an NBA franchise was $3.85 Billion. (Via Statista) That's an increase of 1750% and we're looking at the average, not even zooming in on the most valuable teams. For example, this year Ron Burkle sold the NWSL team San Diego Wave FC for $120 Million after paying only $2 Million for the team two years ago. That's an increase of 5900%. While not everyone can afford to buy the Boston Celtics or the San Diego Wave, I've seen a lot of people look more deeply into sports investments for similar returns. There is an explosion of new sports formats, leagues, and teams as people take sports more seriously as an asset class. Each case study like Ron Burkle or Wyc Grousbeck and subsequent year that team values increase will encourage more investors to look more closely at sports. #celtics #sports #sportsbusiness #nba #basketball #investment

#BusterOlney posted this "Within other organizations, there is a lot of disgust with how the A’s have handled the ballpark situation — especially when there’s no actual ballpark plan settled in #LasVegas. And there is an assumption the A’s will tank in the next few years, because their #revenuestream will be down to a trickle. 'This makes us all look bad,' said one person." Lets be honest the Oakland Athletics would not be in this situation if it wasn't for these so called "other organizations." They unanimously #approved #Vegas without a legitimate plan for #JohnFisher and #DaveKaval. Also, it is not like Fisher has not relied on "revenue sharing," signed their top prospects to long-term deals, or done anything to continue to keep the A's competitive when the franchise started winning. So who has enabled the #Athletics? Those who are now complaining about a team that is willing to play for at minimum in a #minorleagueballpark for three seasons, possibly more while a nonexistent stadium in another state may not even come to fruition. While completing ignoring that the city of #Oakland finally stood ground against the A's. Got nearly $1 billion in funding to build a ballpark at #HowardTerminal. We're not buying what other organizations are saying Buster. Then again it is also sad said person could not put a name to their face for when they said "this makes us all look bad." Sorry but Major League Baseball (MLB) and owners have looked bad for a long time when it comes to the situation regarding Oakland. Funny thing is this all could have been avoided if #MLB had a #legitimateleadership and a #competent #commissioner.