Recorded at the 2025 Columbia Sports Management Conference in October, moderator Chris Lencheski leads a conversation on the forces reshaping the sports investment market. Joined by Daniel Adams of Polsinelli, William Mao of Octagon, Betsy Morgan of TOGETHXR, and Stephen Schifrin of Terrapin Partners, the discussion explores how investors, advisors, and operators are evaluating today’s sports landscape across team ownership, media rights, women’s sports, and global growth opportunities. The panel breaks down how capital is flowing into sports differently than ever before, from private equity and family offices to strategic investors looking for long-term value in scarce assets. The group discusses how media rights continue to underpin valuations, why shorter and more fragmented rights cycles are changing the deal environment, and how investors are increasingly forced to balance traditional financial analysis with a deeper understanding of fandom, community, and brand relevance. A major focus of the conversation is the continued rise of women’s sports as a serious investment category, with discussion around where the strongest opportunities exist and how those properties should be measured on their own terms rather than against legacy men’s models. The panel also examines the importance of fan behavior, player visibility, and social engagement in driving the commercial potential of teams, leagues, and emerging properties. From MLB and media-rights strategy to women’s sports, global football, and the future of ownership structures, this conversation offers a smart, grounded look at what sophisticated investors are actually watching in sports right now, and why the next generation of value creation will come from understanding both the numbers and the passion behind them.
Connect with Chris: https://www.linkedin.com/in/chrislencheski/
Connect with Daniel: https://www.linkedin.com/in/daniel-adams-b98bab2/
Connect with William: https://www.linkedin.com/in/williammao/
Connect with Betsy: https://www.linkedin.com/in/betsylmorgan/
Connect with Stephen: https://www.linkedin.com/in/stephen-schifrin-0014333/
The CUSP Show is hosted by Joe Favorito (@Joefav) and Tom Richardson (@ConvergenceTR) and produced by Sam Henry (@s_henry11), LJ Holmgren (@LJ_Holmgren), and Danny Hagenlocher (@DhColumbiaSPS), with social media efforts led by Lissa Ruiz.
