Family Fortunes and the Business of Sport
UHNI
Family Office
Wealth Management
Alternative Investments
In 1923, Edoardo Agnellis, heir to Italy’s Fiat empire, purchased a modest Turin football club named Juventus. While many outsiders were left nonplussed by the curious gamble, Edoardo saw beyond the pitch. Juventus, he believed, would not only help bind his family’s name in Italy’s cultural fabric, it also had the potential to be a financial engine.
And he was right.
A century later, Juventus, still owned by the Agnellis family, is now valued at over $2 billion.
Over 8 decades later and 6500 kms east of Turin, the tides began turning: for the first time ever, the launch of the Indian Premier League (IPL) in 2008 gave India’s wealthiest family businesses a platform to bid for and own sports teams in a league. With IPL’s regulated framework, families saw both the commercial and the strategic potential of owning, building, and growing a team. Indeed, this franchise-based model turned out to be a success in the country, catalysing the creation of other franchise-based leagues: fro…
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