Long Live Sports
Grant@ggibson__
· 1
−1.6%
since Oct 7
The idea
Sports keeps outlasting every format built to carry it, and it feels stronger now than ever, still pulling crowds into buildings and eyes onto screens every single night. So I own the game itself: the teams and leagues, the venues, ticketing and promoters that get people into the seats, and the platforms where fans watch live. Spread across all of it rather than betting on one name, with a small cash cushion, built to hold for years. If live sports ever stopped pulling people together in real time, that's when I'd rethink it.
What it owns
- Owning a team or league means owning something scarce, and franchise values have climbed for decades. · TKO Group HoldingsIt operates UFC and WWE, pure live spectacles where fans pay to be in the room and watch in real time, with sellout events driving live rights value., Liberty Media Formula OneIt owns Formula One outright, and a race weekend is the ultimate live event, with attendance and global viewership continuing to grow., Atlanta Braves HoldingsIt owns the Atlanta Braves, one of the few publicly traded teams, plus the stadium district built around game day activity., Madison Square Garden SportsIt owns the Knicks and Rangers, scarce big-market teams in the largest U.S. media market, with value tied to rising professional team valuations., Manchester UnitedIt is one of the few publicly traded global football clubs with a worldwide fanbase, with value dependent on club scarcity and the enduring global appeal of live football., Rogers CommunicationsIt owns Toronto's professional sports teams, with the position tied to those sports holdings remaining part of the company.41%
- Promoters, buildings, tickets and concessions all get paid when fans show up in person, regardless of the outcome. · AramarkIt sells food and beverages in stadiums and venues, a direct picks-and-shovels play that depends on fans walking through gates., Live Nation EntertainmentIt is the largest live event promoter and owns Ticketmaster, the ticket distributor for all kinds of live events, benefiting as demand for in-person attendance outpaces available seats., StubHub HoldingsIt operates the largest resale marketplace for event tickets, a picks-and-shovels play that profits when fans pay secondary market premiums to attend., Vivid SeatsIt operates a secondary ticket marketplace, a picks-and-shovels play that benefits if resale demand remains strong enough to support multiple platforms., Madison Square Garden EntertainmentIt owns Madison Square Garden, the venue itself where live events happen roughly a hundred nights per year, benefiting as the world's most famous arena keeps filling., Sphere EntertainmentIt operates Sphere, a new venue format designed to be the draw itself, with the position depending on the format proving that people will travel for the experience.31%
- Wherever fans watch live events, from traditional broadcast to streaming platforms, the screen carrying the action captures the audience. · AlphabetYouTube serves as an on-ramp for live sports culture and streams live sporting events, with the position depending on YouTube winning and retaining major live rights., AmazonIt carries live sports through Twitch and NFL rights on Prime Video, relying on continued spending for live game rights and Twitch's role as a live viewing platform., NetflixIt is expanding into live events because live programming is the one thing scripted streaming cannot replace, with growth tied to adding sports to its lineup., Fox CorporationIt built its television business around live content that people must watch in real time, with sports programming positioned to survive the decline of scripted television., Walt DisneyIt owns ESPN, the largest sports broadcaster in America, with exposure to ESPN's ability to maintain major league rights and transition to streaming platforms.20%
- Cash8%