Sports teams, clubs and leagues may command the spotlight but they represent only one part of a nearly US$3 trillion sports, media and entertainment investment universe. The opportunity – “the full prize” – encompasses approximately US$500 billion in teams and leagues and a further US$2.5 trillion across the broader ecosystem, from media rights, content and live events to venues, technology and the businesses that power the sector1 2. Together, these segments form a deep and diverse investable market that remains relatively underpenetrated and increasingly in need of flexible capital. This creates significant scope for alternative capital providers to deliver innovative financing solutions across the full value chain. Supported by durable long-term growth trends and a history of low correlation to traditional markets, the full sports, media and entertainment opportunity is too compelling for investors to ignore. (1. Forbes as of December 2024. 2. Goldman Sachs “Investing in sports: the next trillion dollar market?” transcript.)