The Denver Broncos were already a hot commodity, but an additional factor may have helped push forward their record-setting $4.65 billion sale to a group led by Walmart heir Rob Walton: Sports franchises are seen more and more as recession-proof properties.

Amid market uncertainty, particularly in tech stocks and cryptocurrencies, sports teams have emerged as assets that show consistent growth, insulated from market conditions. 

On top of that, the number of potential buyers is rising: By Forbes’ count, there are now 2,668 billionaires – a 31% increase from 2017. Their average net worth has grown 26.9% in that time to $4.8 billion.

Team values are rising annually across leagues. 

• NFL teams grew 14% year-over-year to $3.5 billion last year, per Forbes.
• NBA team values increased 4% last year to reach an average of $2.2 billion.
• MLB teams rose 9% to $2.1 billion on average.
• The average NHL team grew 32% to $865 million in value. 

No Brakes on Stakes

While Chelsea FC set a global record with its $5.2 billion sale price (which includes promised investments in the team and its venue), the Broncos’ $4.65 billion price tag is the largest ever for a North American team. There is an equally robust market for non-controlling team stakes.

Last year, private equity firms spent $51 billion on sports transactions, including $3 billion in minority stakes in North American teams.

Philadelphia 76ers and New Jersey Devils owner Harris Blitzer Sports and Entertainment struck a deal this month to sell a more-than-5% stake to private equity firm Arctos Sports Partners at a $3 billion valuation.

The NFL is turning its attention to Africa.

The league will host events in Ghana beginning June 21, including a talent identification camp, fan event, and flag football clinic.

These will be the league’s first official events on the continent. 

• There are more than 100 players on NFL rosters of African descent, either born on the continent or first-generation American, according to the league.
• Talent identification camps will feature 40 players selected from regional camps led by retired defensive end Osi Umenyiora.
• The NFL is looking at future events and camps in Nigeria and other African countries.

“Top talent from the camp could be invited to participate in International Combines, the International Player Pathway program, and for those athletes ages 16 to 19, there’s the opportunity to attend the NFL Academy in London,” said NFL chief operating officer of international Damani Leech.

Untapped Talent

American sports leagues have made scant investments in Africa, with the exception of the NBA. Along with the International Basketball Federation — a relationship that’s reportedly valued at nearly $1 billion — the NBA runs the Basketball Africa League, which launched in 2021.

The league has 12 teams, each from a different country, and is sponsored by Nike, Air Jordan, and Pepsi. It is broadcast in Africa on ESPN Africa and Canal+ Afrique, in the U.S. on ESPN+, and in China on Tencent Video.

FIFA continues to capitalize on the growing interest in women’s sports.

Last week, soccer’s governing body launched an invitation to tender for the sale of media rights to the 2023 Women’s World Cup to France, adding to the 38 European and Central Asian territories it invited in April.

“The tender process will allow FIFA to select the French media companies and organizations that are best placed to achieve FIFA’s overall objectives to deliver high-quality, comprehensive coverage,” a statement from FIFA reads.

France is no stranger to the Women’s World Cup, which FIFA says is the most-watched single-sport event for women globally. 

Numbers Don’t Lie

France hosted the latest Women’s World Cup in 2019, bringing in a record number of domestic viewers — an average of more than 10 million tuned in for French national team matches, with over 1.1 billion total viewers.

• In the 2019 World Cup, South America and Europe had the highest percentage of fans reached at 44.8% and 38.5%, respectively.
• That year’s final was also the most-watched in tournament history, up 56% from the 2015 edition.
• In 2019, France’s main broadcaster TF1 had to hike advertising slots by 50% to 60% after France’s first match.

The 2023 Women’s World Cup takes place in Australia and New Zealand and will have 32 teams for the first time — it previously hosted 24.

ByteDance, the owner of TikTok, is considering selling a minority stake in Poizon, an online fashion marketplace for sneakers and apparel, according to Bloomberg. 

The Beijing-based company is looking to offload a stake in Poizon, which has roughly 100 million monthly active users, as it downsizes its business operations, particularly its investment arm and VC team. ByteDance anticipates a crackdown by Chinese regulators on tech companies. 

• Poizon is valued at more than $10 billion.
• A sale would be for a stake less than 10%.
• ByteDance prefers to sell the minority stake to an existing investor.
• No deal is imminent, as ByteDance may decide to keep the stake. 

ByteDance, which is privately held, was looking to go public last year in the U.S. or Hong Kong but scrapped its plan for an IPO after Chinese regulators asked the company to address data security risks and other issues. As of April, ByteDance is reportedly valued at $140 billion. 

Growing Tension 

ByteDance’s plans to sell a portion of Poizon come amid tension within the sneaker resale market. 

In February, Nike sued resale platform StockX over NFTs, accusing the latter of trademark infringement when some of the NFTs included Nike shoes. Two months later, Nike claimed it purchased four pairs of counterfeit shoes from StockX — including one matching an NFT.

Earlier this week, StockX, which reached a $3.8 billion valuation in 2021, filed a response to the lawsuit with the U.S. District Court in New York claiming Nike’s allegations “lack merit.”