15 GOVERNANCE, OWNERSHIP, AND REGULATION REFORM IN PROFESSIONAL TEAM SPORTS
We mentioned that the growth in private equity investment in sport will be in some way tied to wider competition reform and future governance and regulation of sport. We have already cited instances in this section where this happening in some sports in relation to competition structure (e.g., horseracing and cricket). Closed franchise style leagues will always hold appeal to private equity firms as the potential for recurring revenues is high and risk is lower. Indeed, this was the whole premise of the ESL, taking a European football competition and making it as American as possible. From a competitive balance perspective, Formula 1 brought ...
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