Rising valuations and rapid movement among professional sports team deals in 2026

Investors are flocking to the sports sector in droves. And professional sports teams are the main attraction. Due to a scarcity of assets and the consistent rise of pro sports team valuations, investors have seen an opportunity to pick up stakes in teams across the National Football League, National Basketball Association and Major League Baseball.

Deals, both big and small, are happening across football, baseball and basketball. And some of the most prominent teams in sports are the recipients, such as the Los Angeles Lakers, New York Yankees and Seattle Seahawks.

PE Hub has been tracking the deal activity in the sector, which has picked up recently. Five deals have been announced or reported on during the month. PE firms like Apollo and KKR-backed Arctos are active, but we’re also seeing the heads of PE and VC firms like José E Feliciano and Joshua Kushner make splashy sports moves.

Let’s sift through sports deals involving professional sports teams from 2026.

1. Marc Stad agrees to take majority control of Minnesota Timberwolves and Lynx

Marc Lore in August agreed to sell his majority stake of the NBA’s Minnesota Timberwolves and WNBA’s Minnesota Lynx to Marc Stad.

Stad was already a minority investor in the Timberwolves and Lynx, according to an ESPN report. He is founder and managing partner at Dragoneer Investment Group, a San Francisco-based investment firm.

Minority stake owner, co-chairman and alternate governor Alex Rodriguez shared in a post on X that he will be increasing his investment in the Timberwolves and Lynx. He will continue in the same role. Lore will remain an investor in the Timberwolves and Lynx.

2. KKR-backed Arctos to take minority stake in Atlanta Falcons

In another August deal, KKR-backed Arctos agreed to acquire a minority stake in the Atlanta Falcons, according to CNBC Sport. The reported stake is for 10 percent. Atlanta would be Arctos’ fourth investment in an NFL team. Previously, the firm has taken stakes in the Los Angeles Chargers, Buffalo Bills and Cleveland Browns.

Arctos and the Atlanta Falcons both declined to comment when PE Hub reached out about the potential deal.

3. Kwanza Jones and José E Feliciano to acquire San Diego Padres at $3.9 billion valuation

An ownership group led by Kwanza Jones and José E Feliciano is acquiring the San Diego Padres from the Seidler family. Major League Baseball owners unanimously approved the deal earlier in August. The transaction values the Padres at $3.9 billion.

Feliciano is managing partner and co-founder of Clearlake Capital Group. In a Fireside Chat at NEXUS 2026 with PE Hub editor-in-chief Mary Kathleen (MK) Flynn, Feliciano explained that sports have become a predictable revenue source that’s extremely sticky.

4. Joshua Kushner and Bob Iger to buy Los Angeles Lakers in $12.5 billion deal

Earlier in August, Joshua Kushner and Bob Iger agreed to acquire the Los Angeles Lakers from Mark Walter in a $12.5 billion transaction. Kushner will be the controlling owner, according to a source close to the deal. The deal is still subject to approval from NBA owners.

Thrive Eternal is expected to be part of the financing in the transaction, according to a source. Founded in 2026, Thrive Eternal is a permanent capital holding company that will be concentrated on a small number of assets that it can “steward over many decades.”

5. Apollo to acquire stake in New York Yankees

In another August deal, Apollo Sports Capital has agreed to provide $2.6 billion to Yankee Global Enterprises, the holding company of MLB team the New York Yankees.

According to a release, the capital infusion will be used to support the continued growth of the Yankees franchise as well as refinancing of existing debt. The transaction is expected to close imminently.

Apollo Sports Capital CEO Al Tylis will join YGE’s board, which will expand by one seat. The Steinbrenner family will maintain full control of the Yankees, and Hal Steinbrenner will remain as the managing general partner of the Yankees and continue to represent the team as the MLB control person.

6. Harbinger Sports Partners takes minority stake from MLB’s Athletics

Harbinger Sports Partners acquired a minority ownership stake in the MLB’s Athletics in July. The Athletics are based in Las Vegas.

The transaction is part of the club’s completed equity financing for construction of its new ballpark on the Las Vegas Strip. It also marks the first investment for Harbinger’s inaugural fund.

Read PE Hub’s 2025 interview with Mark Cuban about Harbinger’s investment strategy.

7. Seattle Seahawks agree to sale to Khosla family in $9.6 billion deal

In July, an ownership group led by the Khosla family, including Vinod Khosla, agreed to acquire the Seattle Seahawks NFL franchise from the estate of Paul Allen. The transaction valued the Seahawks at $9.612 billion, according to ESPN. The deal remains subject to NFL approval.

Vinod Khosla is the founder of Khosla Ventures, a venture capital firm based in Menlo Park, California.

8. Blue Owl makes minority investment in Cleveland Cavaliers

In another July deal, Blue Owl acquired a minority stake in the Cleveland Cavaliers, a professional team in the National Basketball Association. Cavaliers owner Dan Gilbert will maintain his majority stake in the franchise.

The investment was made out of Blue Owl’s HomeCourt Partners fund, a division of Blue Owl’s GP Strategic Capital platform.

“Sports investing is a rapidly growing alternative investment strategy due to the diversification and stable income stream it can potentially provide investors,” Michael Rees, co-president at Blue Owl, said in a statement.

9. Sportsology Capital Partners takes minority stake in Texas Rangers

In February, Sportsology Capital Partners made a minority investment in the Texas Rangers of the MLB. The deal is SCP’s first investment in the MLB.

Prior to the Rangers transaction, SCP acquired a minority stake in the France SailGP Team alongside Ares and soccer icon Kylian Mbappé.