Ryan Smith, owner of the Utah Jazz and Utah Mammoth, said professional sports have evolved into a financial asset class attracting widespread investment [1].
This shift reflects a broader economic trend where sports franchises are viewed as stable, high-growth investments. As digital transformation accelerates, the value of physical venues and collective gatherings has increased for both owners and fans.
Speaking with CNBC Television, Smith said the most surprising aspect of his experience as an owner is how many investors are now pursuing sports teams [1]. He said the current market is an environment where sports has become an asset class that everyone is running to [1].
Smith linked the enduring appeal of these franchises to the rise of automation and digital interfaces. He said the demand for live experiences is the antithesis of AI [1]. According to Smith, the attraction lies in the physical nature of the events—people want to feel and convene [1].
This perspective suggests that as artificial intelligence permeates more aspects of daily life and labor, the scarcity of authentic, shared human experiences increases their market value. Smith said the drive toward live events is not surprising when viewed as a reaction to a digital-first world [1].
By positioning sports as a hedge against the sterility of AI, Smith highlights a tension between technological efficiency and human connection. The movement of capital into sports is not merely about the games themselves, but about owning the spaces where people gather in person [1].
“Sports has become an asset class that everyone's kind of running to.”
The transition of professional sports from community-based entertainment to a formalized asset class indicates a decoupling of team valuations from traditional profit-and-loss statements. By framing live sports as the 'antithesis of AI,' Smith suggests that the primary value proposition for future sports investments will be the ownership of 'attention' and 'presence' in an increasingly virtual economy.
