Billionaires are buying sports clubs
all over the world. According to a report by UBS and PwC
, more than 140 top sports clubs are owned by just 109 billionaires. Sixty of those super-rich club owners are from the U.S., 29 from Asia and 20 from Europe. The average age of the wealthy sports baron is 68 years, with an average wealth of $5 billion under their wings.
In the U.S., more than two thirds of the NBA and NFL teams, and half of the MLB teams, are owned by billionaires. In the UK, almost half (9 out of 20) Premier League soccer clubs are governed by billionaires, the report states. While Chinese tycoons were erstwhile investing a lot in European soccer, they have now turned to their own market, investing heavily in China itself.