đđ°How Private Credit Is Redefining the Capital Stack in Sports
From transfer receivables to NCAA payouts, predictable revenues are being transformed into investable assetsâand reshaping how sport is financed, owned, and scaled.
đThe Berkida Take
Private credit in sport is no longer just opportunistic. It is becoming foundational. What began as a solution for distressed clubs has evolved into a broader capital system that is reshaping how rights, revenues, and reinvestment cycles are structured. Predictable cash flows, once locked inside clubs and institutions, are being collateralised, priced, and packaged into financial product.
From European football to American college athletics, the shift is not just about liquidity. It is about structure. The following overview outlines how sport is entering a structured credit phase. For further insight, deal flow, or structuring support, contact Berkida.
đ§ Private Credit and Receivables Market in Sport
Private credit is increasingly financing the sports industry by turning predictable revenue streams into collateral. Tottenham Hotspur, for example, recently secured a $122 million facility, using future ticket sales, sponsorship income, and other matchday revenues as backing. Across Europe, clubs have leveraged loans against transfer fees and stadium assets, with various lenders actively deploying capital into these deals.
According to Front Office Sports (2023), private credit and hedge funds are creating dedicated funds to acquire portions of media rights, ticketing revenue and/or player transfer receivables. Institutional investors are treating sports revenues as securitised, income-generating assets. Even U.S. college athletics is entering this market. Upcoming NCAA revenue-sharing rules could require programmes to distribute $1.4 billion to athletes in the first season alone, creating a potential funding gap that private lenders are positioned to fill (PitchBook, 2025).
From European football transfers to stadium expansions and college athletic payments, private credit is turning predictable sports cash flows into structured investment opportunities. This gives investors access to a relatively new and attractive asset class.
đ Investment Opportunities in Sports Finance
For investors, sports finance offers new opportunities:
Transfer receivables: According to Private Equity Wire (2025), instalments from player sales can yield 8â9% or even double digit return depending on the risk profile of the counterparty while still benefiting from FIFA/UEFA enforcement mechanisms.
Stadium and infrastructure financing: According to Goldman Sachsâ 2025 âUnlocking New Opportunities in Sportsâ report, infrastructure projects are gaining traction as clubs seek to fund stadium upgrades by securing credit against future matchday, sponsorship, and hospitality revenue.
College athletics: According to PitchBook (2025), the NCAAâs $2.8 billion settlement could drive $1.4 billion in athlete payments in year one, requiring capital infusions from direct lenders.
Broadcast and media rights: Akin Gumpâs 2025 report âThe Ascent of Private Credit in Sportsâ highlights how private credit is being deployed to finance the acquisition and monetisation of media rights, with structured vehicles emerging to convert long-term broadcast income into investable product.
Distressed clubs: Private capital is increasingly supporting clubs facing liquidity constraints, offering flexible financing that can stabilise operations while preserving upside through equity-linked structures.
đŒ Growth and Deals in Sports Credit
According to Private Equity Wire (2025), European football transfers reached âŹ5.1 billion in the 2025 summer window, creating a significant pool of receivables available for asset-backed lending. In the United States, PitchBook (2025) reports that NCAA rule changes will require schools to pay athletes directly, with potential payouts of $1.4 billion in the inaugural 2025â26 season, scaling to nearly $2 billion as future allocations increase.
Infrastructure-backed deals continue to gain momentum as clubs seek to finance upgrades through predictable commercial revenue streams. For example, several top-tier teams have secured credit facilities tied to future matchday, sponsorship, and hospitality income. At the same time, private funds are actively deploying capital into media and ticketing-linked structures, reflecting growing institutional confidence in sportâs cash flow reliability.
This shift underscores how credit is evolving from reactive support into a proactive financing tool that enables long-term planning, operational flexibility, and value creation.
đ Data and Metrics on Sports Financing
The scale of structured capital in sport is increasingly underpinned by clear metrics. In college athletics, top-tier programmes in the SEC alone are projected to owe over $300 million in direct athlete payments in 2025â26, while Power Four schools collectively may reach $2 billion in obligations within two years (PitchBook, 2025).
In Europe, the volume of transfer receivables, infrastructure-linked cash flows, and licensed media rights provides ample collateral. Redeveloped stadiums can now generate per-fan matchday revenue ten times above legacy levels, transforming the economics of facility-backed lending.
Private capital exposure across top leagues is growing. More than half of Premier League clubs have private market investors, and activity is rising in France and Italy. As noted by Farrer (2025), the asset class benefits from structured oversight, enforceability, and diversified revenue streamsâattributes increasingly attractive to institutional capital.
đ ïž Operational and Technology Needs in Sports Finance
According to Farrer (2025), despite the growth of sports financing, technology and operational infrastructure remain fragmented. Clubs in Europe often manage receivables through legal assignments and promissory notes. PitchBook(2025) reports that U.S. athletic programmes may require new vehicles for securitising commercial rights.
There is a clear need for integrated platforms that consolidate ticketing, sponsorship, media rights, and transfer receivables into lender-friendly instruments. Investors look for transparency and enforceability through collateralised revenue streams, proper legal structures, and monitoring mechanisms. English league oversight, for example, provides confidence in repayment.
According to Private Equity Wire (2025), the use of structured finance tools such as floating charges and security interests in revenue streams allows lenders to acquire and manage exposure efficiently. This reduces operational risk while maintaining acceptable level of risk.
đ How Sports Revenue Generates Investment Returns
According to PitchBook (2025) and Front Office Sports (2023), the investment logic in sports private credit works by using revenue generated from fans through tickets, sponsorships, media rights and player receivables, treating these as collateral to secure loans. Capital from these transactions is reinvested into player acquisitions, stadium improvements and enhanced fan experiences. This cycle drives higher revenues and creates repeatable, secured cash flows for both clubs and lenders.
Whether in European football or U.S. college sport, structured financing tied to predictable income allows clubs and programmes to unlock value today from revenues they would otherwise realise over time.
đ€ Investors in Sports Credit
A growing ecosystem of private lenders, credit funds, hedge funds, and hybrid capital providers is now active across leagues, rights structures, and stages of risk.
From direct lending to receivables acquisition and hybrid creditâequity solutions, capital is entering sport in a form previously uncommonâand in structures previously reserved for traditional infrastructure or media finance.
To understand which players are active and where opportunities exist in the capital stack, contact Berkida Ventures.
đ§Ÿ Final Word
Private credit is becoming one of sportâs most powerful financial tools. It transforms future revenue into investable present-day capital. With enforcement mechanisms, yield visibility, and operational discipline, it is turning clubs, leagues, and programmes into structured, finance-ready assets.
If you are structuring deals, deploying capital, or building platforms in this space, Berkida is tracking the market. Get in touch to go deeper.