Sport's Intangible Assets: From Amateur Clubs to Investable Asset Classes (Part 3)

This is the third article in a four-part series by Stephen Townley, a sports lawyer with nearly 50 years' experience advising organisations including FIFA, the IOC, World Rugby, and the International Tennis Federation, examining sport's intangible assets. In Parts 1 and 2, Stephen explored how sport marketing became big business and why 80% of sport's value is now invisible. Here, he examines how sport has moved from amateur clubs to investable asset classes.