Athletes are increasingly acquiring ownership stakes in professional sports teams, a trend that shows no signs of slowing and is changing how franchises approach ownership and community engagement.
Wale Ogunleye, an 11-year NFL defensive end and current UBS executive who heads sports and entertainment at the investment bank, said he receives weekly calls about potential team buyers who want athlete inclusion in their deals.
Ogunleye spoke at Front Office Sports' third annual Huddle in the Hamptons, where he described growing interest from both athletes and billionaire owners in connecting through team ownership.
High-profile athletes including LeBron James, Tom Brady and Patrick Mahomes already hold investments in multiple sports properties, setting a precedent for this new wave of athlete-investors.
Travis Kelce is a recent addition to that group. He acquired a minority stake in the Cleveland Guardians in May, adding to his prior investment in the Alpina Formula 1 team.
Investors and billionaire owners target players for their established relationships within local communities. An athlete's involvement can provide validation for an ownership group, building trust with fans.
Ogunleye said the primary driver is not the athletes' capital. Investors value the reputation and influence athletes have built — something he said cannot be purchased.
For many athletes, acquiring ownership stakes aligns with longer-term goals. Ogunleye said athletes want to be recognized as entrepreneurs, building identities beyond their playing careers.
Tina Charles, the 2012 WNBA MVP and founder of 78 Brewing Co. echoed that view alongside Ogunleye. Charles said team or business ownership allows athletes to control their public narrative.
She said athletes become part of creating assets, making decisions and taking risks — and that active role is essential for changing public perception.
Private equity firms are also expanding their presence in sports ownership, acquiring clubs to influence management, improve financial performance and capitalize on sports' growing popularity.
Because many leagues restrict majority ownership by institutional investors, private equity firms must find creative approaches to structure their investments.
