Buying Your Own Sports Team (with Stocks)
6/16/202622 min
Pretty much every sports fan dreams of owning their favorite team. Between the bragging rights and the courtside seats, who wouldn’t want to be? While you may not be able to be a partial owner of your favorite team, there are a few opportunities to own a part of team in almost every league. We take a a look at what teams you can own through stocks and whether any are worth an investment. Plius, Robinhood’s layoff announcement and listener questions Tyler Crowe, Matt Frankel, and Lou Whiteman discuss:
- Robinhood’s layoffs: Good move or bad move?
- Fintechs going on a wild ride due to crypto trading
- Publicly traded sports franchises
- Why do sports teams make lousy investments
- Mailbag: What happened to Alexandria Real Estate? Companies discussed: HOOD, COIN, SOFI, MANU, FWONK, BATRK, MSGS, ARE Host: Tyler Crowe Guests: Matt Frankel, Lou Whiteman Engineer: Dan Boyd Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We’re committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices
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Transcript preview
First 90 secondsTyler Crowe· Host0:00
[upbeat music] Buying sports teams on Motley Fool Hidden Gems Investing. Welcome to Motley Fool Hidden Gems Investing. I'm your host, Tyler Crowe, and today I'm joined by longtime Fool contributors Lou Whiteman and Matt Frankel. So it's been a big week in the world of sports. We had the New York Knicks win the NBA finals, we had the Carolina Hurricanes win the NHL finals, we have a very large football or soccer tournament that has global implications going on. But for trademark reasons, we can't say the name. But all of this just kinda has sports on our mind, so we're gonna talk about owning sports teams through publicly traded companies. We're also gonna hit the mail bag. But first we want to start with the news of the day, and the big-- What we saw was Robinhood announce that they are gonna lay off about 10% of their workforce. Now, Matt, when I first see this, we've seen a lot of layoffs lately, so my question is, was this a layoffs for a good reason, layoffs because they're in trouble or perhaps just a nothing burger?
Matt Frankel· Guest0:59
Well, it depends what-- whether you believe what Robinhood is gonna tell you or not. So the-- We've seen this with many companies so far, right? Uh, Robinhood is going to frame this as either, you know, a move toward efficiency, uh, streamlining operations. Uh, the AI tools are, are making it more efficient to do, you do more with fewer people, et cetera, et cetera. We've seen that time and time again. And to be fair, it's, it's true to some degree. And, and plus, Robinhood's CEO has been very vocal lately about the need to control costs and get margins up to where