Amateur sports sector sees more private equity inflows in 2026

Global private equity and venture capital investment in amateur sports is poised for a second consecutive year of growth in 2026, driven by TPG Capital LP's $2 billion acquisition of collegiate athletics services provider Learfield Communications LLC.

Transaction value in amateur sports, including companies and organizations that provide services, support, equipment and technology to amateur and youth sports, reached $2.11 billion in the first five months of 2026, surpassing the $550 million recorded for all of 2025, according to data from S&P Global Market Intelligence.

There were six transactions between January and May, compared with 17 in all of 2025.

Wider interest in sports investment

The growth in investment in amateur sports mirrors broader growth in sports deals.

Sports team acquisitions reached $23.60 billion in 2025 through August, surpassing the full-year record of $16.60 billion set in 2023, according to Market Intelligence data. Private equity transactions in sports services hit an eight-year high of $6.33 billion in the first three quarters of 2025.

Private equity firms targeting sports-focused strategies have raised significant capital in recent years, with some investing in major sports leagues and others increasingly drawn to less traditional opportunities such as amateur sports, which offer similar themes at potentially lower valuations, said Luke Riela, principal and research consultant for private markets at investment consulting firm Meketa Investment Group Inc.

"Amateur sports generally represent a large, growing and recession-resistant market with potentially attractive roll-up and professionalization upside in highly fragmented and non-institutional verticals," Riela said.

In the US, the youth sports sector represents an estimated annual market of $40 billion and is growing 8% to 10% every year, according to a report from law firm White & Case LLP.

Revenue streams are diversified across registration fees, tournament entry fees, facility leasing, concessions, merchandise, sponsorship and naming rights as well as media streaming packages. However, ownership remains fragmented, with many operators managing a single facility or regional circuit, according to White & Case.

Investment in amateur sports is expected to continue, though deal value may fluctuate significantly each year, driven by a handful of large transactions, Riela said.

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Largest transactions

The US attracted most private equity investment in amateur sports. Between January 2025 and May 2026, deal value in the US totaled $2.59 billion across 17 transactions, according to Market Intelligence data.

During the period, nine of the 10 largest transactions were in the US.

In the largest private equity deal in the sector to date in 2026, TPG and TPG Sports agreed to acquire Learfield, a provider of media and technology services in collegiate athletics, with Charlesbank Capital Partners LLC retaining a minority stake. Evercore and The Raine Group served as TPG's financial advisers, while Ropes & Gray LLP and Mintz acted as legal counsel. Moelis & Co. LLC and BofA Securities were Learfield's financial advisers, while Davis Polk provided legal advice.

In the second largest transaction, sports-focused software company Teamworks Innovations Inc. raised $285 million in a series F funding round in June 2025 led by Dragoneer Investment Group LLC. Teamworks also secured $75.8 million in a series G round in February 2026, with AllianceBernstein Holding LP and HgCapital LLP participating.

The third-largest was the $120 million round of Unrivaled Sports in May 2025. Firms including DSG Ventures LLC, Dynasty Equity Partners Management LLC and TCG Capital Management LP participated.