Private equity firms have increased their stakes in professional sports assets after the NBA, NHL, MLB, MLS, and many other leagues recently loosened ownership rules to include institutional investors. Most notably, RedBird Capital Partners acquired a 10% stake in Fenway Sports Group valuing the group at $7.4B, CVC Capital Partners bought 10% of Spain’s top football league La Liga for $3.2B, and Silver Lake invested up to $273MM for a 12.5% share of New Zealand’s All Blacks rugby team. This report aims to explore this red hot asset class and determine if private equity's entrance into professional sports investing represents a mere single or a spectacular home run.