Yahoo Finance Billionaire Marc Lasry, who sold his stake in the Milwaukee Bucks, says the next "big opportunity" is in women's sports
Investor Marc Lasry says women's sports audience is booming, and valuable media rights will follow.
The former co-owner of the NBA's Milwaukee Bucks is raising money for a sports fund.
Lasry said he would like to go out and buy basketball teams in Africa and potentially Asia.
Billionaire Avenue Capital founder Marc Lasry says the next "big opportunity" in sports investing is in women.
The former co-owner of the NBA's Milwaukee Bucks is launching a sports fund and eyeing opportunities in women's sports and foreign basketball teams, he said at the Bloomberg Invest conference Wednesday.
"There's this tremendous amount of demand," Lasry said. He added the audience for men's sports in the US will likely fall while women's sports will keep growing and "sooner or later take over by the media rights as well."
He referenced prices for tickets to the women's college basketball finals outselling the men's as an example of the trend. He's also a fan of the National Women's Soccer League.
"Women's soccer should go from $50 million to $500 million in the next 10 years," he said.
Lasry reiterated plans that he was looking to raise money for a sports fund, which he initially revealed at the SALT conference in May. He said he was working on partnering up with someone "everybody would know" but in the meantime wouldn't hesitate to pick up opportunities with his personal fortune.
This year, the famed distressed-debt investor agreed to sell his 25% stake in the Milwaukee Bucks basketball team. That transaction values the National Basketball Association franchise at about $3.5 billion. He previously said that while he thinks valuations in the league will continue to rise, it's unlikely they can keep "going up by the same percentage that they had gone up ten years ago."
Lasry also said he would like to go out and buy basketball teams in Africa and potentially Asia.
"I think Africa today is where the NBA was in the US 10-20 years ago," he added.
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