UEFA Women’s Euro 2025
The Lionesses secured a decisive victory in the UEFA Women’s Euro 2025 Championship, winning 3–1 on penalties against a formidable Spanish team. This remarkable achievement has inspired the theme of this blog, which explores investment in sport and the development of this sector as an increasingly appealing opportunity for investors. The blog will highlight the growing popularity of women’s sport among the public, as well as the rising interest it is attracting from both public and private sector actors.
Growth of Private Equity in Sport
Private equity investment in sports rights-holders, including clubs, leagues, federations and promoters, has grown rapidly since 2020 and appears set to continue expanding in the coming years. Leading firms in this area include CVC Capital Partners (CVC), Bridgepoint, Silver Lake, Clearlake, Arctos and Dyal. While some have long-standing experience in sport, others are newer entrants or have created sport-specific investment vehicles. These companies form part of a broader and increasingly competitive investment landscape, which also includes other private equity firms, institutional investors, high-net-worth individuals (often former athletes), and mixed consortiums. Other prominent names active in the sector include RedBird Capital, Elliott Management, Ares Management, 777 Partners and many more.
Firms Advising on These Deals
Several prominent law firms have played leading roles in these high-profile transactions, including:
Returns on Early Investments & Why Sport Appeals to Investors
Despite the sector still being relatively young, several investments have already reached maturity and delivered significant returns. For example, CVC turned a $2 billion investment in Formula One into $8.2 billion over the course of a decade. Providence Equity tripled its money with a stake in Major League Soccer’s Soccer United Marketing, while Dyal saw the value of its stake in the Phoenix Suns basketball franchise rise from a valuation of $1.55 billion to $4 billion in under two years. Other successful exits include Bridgepoint’s ongoing involvement in MotoGP through Dorna, KKR’s investment in Bundesliga club Hertha Berlin, and Elliott Management’s profitable sale of AC Milan to RedBird Capital.
Sport is seen by many investors as a resilient and attractive asset class. In the United States in particular, sports leagues benefit from a closed structure without promotion or relegation, long-term broadcast agreements, salary caps, and financial support from local authorities. This creates what some describe as monopolistic advantages. These features are in sharp contrast to European football, where clubs operate within an open pyramid system, face significant cost challenges, and are exposed to the risk of relegation. As a result, there are concerns that US investors may attempt to reshape the European model in favour of closed leagues. The ruling from the European Court of Justice on the failed European Super League is expected to be an important moment in this debate.
Although macroeconomic headwinds such as high inflation, rising interest rates and energy costs may pose challenges, they are not expected to change the overall direction of travel. If anything, as the cost of borrowing rises, the relative attractiveness of private equity investment may grow. Many believe that sport continues to offer strong fundamentals. It remains one of the few forms of entertainment that consistently draws large, predictable audiences. As media consumption fragments and attention spans shorten, sport retains its ability to bring people together and capture widespread attention. This value is increasingly recognised by technology companies such as Apple, Amazon and Alphabet, which have begun aggressively acquiring sports media rights. Their involvement has intensified competition in the US market and contributed to rising valuations.
Rising Popularity of Women’s Sports
Women’s sport has seen remarkable growth in recent years. In 2023, a record 46.7 million people in the UK watched women’s sport, the highest ever, according to the Women’s Sport Trust. Women’s sport made up 15% of total sports viewership, rising from 10% in 2019. Attendance also increased, with the 2022 UEFA Women’s EURO final attracting 87,192 fans, a record for any European Championship final. The 2023 Women’s World Cup sold over 1.9 million tickets, making it the most attended women’s tournament in history. Sponsorship revenue in women’s sport grew by 20% in 2023 as brands increasingly invest. Globally, women’s elite sport revenue is projected to reach US $2.35 billion in 2025, up from $1.88 billion in 2024. Digital engagement in the UK is booming, with TikTok views up 105%, YouTube views up 84%, and Instagram engagement rising 92%. This growth highlights women’s sport becoming a major global industry with increasing cultural and commercial significance.
Investment in Women’s Sports
Following the Lionesses’ historic win, the UK Government has announced bold measures to boost investment in women’s and girls’ sport. Central to this is a commitment to more than double prime-time access at grassroots football facilities for women and girls over five years, aiming for equal access as demand grows. This forms part of the Government’s £400 million grassroots sports infrastructure plan announced in June 2025. Dedicated Lionesses pitches will be created nationwide to inspire the next generation. A new grants scheme, in partnership with the Premier League, The FA, and the Football Foundation, will improve grassroots sites to be safer and more accessible. A national school framework will ensure girls have equal access to sport through partnerships with clubs and governing bodies. The Government also launched a Women’s Sport Taskforce to drive change on athlete health, leadership, and visibility. Culture Secretary Lisa Nandy called this “decisive action” to secure a lasting legacy from the Lionesses’ success.