Valuations show no signs of cooling off with billionaires and private equity firms in bidding wars.
Bankers to the rich told Insider which sports are drawing moneyed clients.
Now rich individuals have to compete with institutional investors like private equity firms and sovereign wealth funds for a limited number of teams.
As a result, aspiring team owners have gotten more creative to seal the deal.
"It's never going to be a private equity type of model where these assets will be exited every five years," he told Insider.
Persons:
Ryan Reynolds, Rob McElhenney, LeBron James, Milwaukee Bucks Marc Lasry, Brian Kantarian, Josh Harris, Kantarian, Ivo Voynov, It's, Gerry Cardinale, Voynov
Organizations:
Bankers, Sports, NBA, Wrexham AFC, Milwaukee Bucks, NFL, Citi Private Bank, Europe's Big Five, XFL, JPMorgan
Locations:
Washington, Europe, Plenty, Wall