Reported 1 day ago
JPMorgan Chase & Co. reports that its billionaire clients are increasingly favoring investments in sports teams over fine art, with about 20% of 111 families now owning controlling stakes in such teams, a rise from 6% three years ago. Benefits from team valuation increases, driven by strong TV ratings and lucrative revenue streams, have led more ultra-wealthy families to engage in this asset class, pushing sports investments to the forefront of their portfolios.
Source: YAHOO