Inside the Skyrocketing Value of Sports Franchises

Last week, Michael Jordan sold a majority stake in the Charlotte Hornets at a $3B valuation — returning nearly 11x on his $275M investment. It’s the seventh-largest sports franchise sale in history (six of these have been in the past 13 months). And it shows just how in-demand sports teams are. In the past 40…

Read more

Elon Musk jokes about buying Manchester United, but guess who’s serious?

On Tuesday night, Elon Musk tweeted that he was buying the U.K. football club Manchester United (NYSE:MANU) — before clarifying he was joking hours later. This sent $MANU briefly up 17% before losing its gains. What’s the big deal? Musk’s shenanigans have caught him on the wrong side of the Securities Exchange Commission — which…

Read more