Avenue Capital Group has announced the final close of the Avenue Sports Fund, securing over $1 billion in capital commitments. The fund, launched in November 2023 and led by Avenue Chairman and CEO Marc Lasry, is one of the most ambitious vehicles yet dedicated to financing opportunities across global sports.
A Fund Built for Today’s Sports Economy
The Avenue Sports Fund is designed to deploy both debt and equity capital across a broad spectrum of opportunities:
- Established leagues and franchises in North America and Europe.
- Emerging leagues with high-growth potential.
- Women’s sports, increasingly seen as undervalued and scalable.
- Sports-adjacent sectors including media, real estate, and technology.
Lasry, best known as the former co-owner of the NBA’s Milwaukee Bucks, brings not only investment expertise but also operational experience and deep relationships across the global sports industry. His credibility, combined with Avenue’s 30-year track record in structured debt and opportunistic equity, gives the fund unique reach and sourcing power.
A Diverse Portfolio Already in Play
Since its launch, the Avenue Sports Fund has already executed investments across multiple sports and verticals:
- The Bay Golf Club (TGL) – Tiger Woods and Rory McIlroy’s tech-driven golf league.
- Trackhouse Entertainment Group – Owner of NASCAR and MotoGP teams.
- Cosm – Immersive media and entertainment technology.
- Ipswich Town FC – English Championship club.
- Mercury/13 – Ownership group acquiring women’s football franchises in Europe.
- PGA Tour Enterprises – The commercial arm of the PGA Tour.
- Baltimore Orioles – MLB franchise.
- New York Mavericks – Professional Bull Riders Team Series.
- CityPickle – Urban pickleball lifestyle brand.
- United States SailGP Team – Part of the high-tech global sailing league.
- Men in Blazers Media Network – Sports media and storytelling platform.
This diversity highlights the fund’s strategy: backing both traditional franchises and innovative platforms at the intersection of sport, media, and culture.
Marc Lasry’s Vision
“This is a dynamic time in sports,” said Lasry. “We are excited to continue to provide capital solutions and make equity investments in a wide variety of sports teams and leagues, as well as in sports-related media and entertainment rights, real estate, and other adjacent businesses. Emerging leagues and women’s sports are areas of potential rapid growth, and the globalization of sports will also create a wide range of opportunities to invest.”
Why This Matters?
- Capital Shift Toward Hybrid Models
Unlike traditional private equity strategies, Avenue is offering both credit and equity — reflecting the increasing need for flexible structures as clubs and leagues manage high valuations and liquidity needs. - Spotlight on Emerging & Women’s Sports
The inclusion of Mercury/13 and CityPickle shows where smart capital is heading: undervalued segments with scalable global potential. - Diversification Across Sport + Media
From NASCAR to Ipswich Town to Cosm, Avenue is building a portfolio that bridges traditional fan bases with next-gen digital and experiential platforms. - Institutionalizing Sports as an Asset Class
With $1B+ already committed, Avenue is part of a broader trend where sports are treated less as passion investments and more as a stable, long-term institutional asset class.
Final Word
The Avenue Sports Fund is one of the clearest signals yet that sports are no longer a “niche” for investors — they are a global investment frontier. By spanning franchises, leagues, women’s sports, and sports-adjacent businesses, Marc Lasry and Avenue Capital are setting a template for how diversified sports portfolios will be built in the years ahead.
Sports are no longer just games — they’re investment platforms shaping culture, media, and global markets. The real question is: who else is ready to play at this scale?
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