Investing in Women's Sports. A Conversation with Jason Wright
Summary
Front Office Sports deals reporter Ben Horny interviews Jason Wright, head of Ariel Investments’ Project Level fund, on the commercial momentum in women’s sports. Wright discusses his thesis that WNBA valuations could surpass the NHL’s, citing professionalization, youth participation, and new fan bases as key drivers. He also covers investments in the NWSL’s Denver Summit, League One Volleyball, and NFL flag football, while addressing challenges like the “gender penalty” in media rights and the role of institutional capital in youth sports.
Topics discussed
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Introduction: Jason Wright and Project Level
Three drivers of women's sports momentum
WNBA vs NHL valuations and the gender penalty
WNBA leadership drama and long-term outlook
Denver Summit FC investment and NWSL growth
Investment challenges in European women's sports
League One Volleyball and the youth sports model
Institutional investment in youth sports
Flag football as an emerging investment
Investing in sports infrastructure and analytics
Women's sports valuations vs men's leagues
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