The rapid growth of global sporting events and the expansion of tournament offerings are driving heightened demand, particularly in sports such as cycling and golf.6 This trend is also reflected in developments such as a record 351 medal events planned for the Los Angeles 2028 Olympic Games7 the introduction of new formats such as the FIFA Club World Cup, alongside enriched fan experiences including half-time shows, fan zones and integrated “play-and-watch” travel packages. Endurance-based experiences and holidays in both urban and nature-based settings are increasingly popular. For example, the 2024 New York Marathon drew more than 17,000 international runners from 137 countries,8 while entries to events such as UltraSwim 33.3 in Croatia, the Marathon des Sables in Morocco and Nordenskiöldsloppet cross-country skiing in Finland sell out within minutes.9The emergence of sport as an asset class Investor interest in sport assets, particularly in professional and elite sports in mature sporting markets such as the US, has reached record levels, with more than a thousand global deals closed in 2021 and landmark transactions such as the $10 billion valuation of the NBA’s10 Los Angeles Lakers in 2025,11 the record high team sale in North American sports history. This surge is driven by the potential of significant asset appreciation, new ownership models, improved financial regulations and the convergence of sport with media, entertainment and technology.12 The investor base has expanded well beyond its traditional boundaries. What was once the exclusive domain of high-net-worth individuals is now attracting institutional investors, sovereign wealth funds, venture capital firms, entertainment companies and professional athletes. 2007–2023, n=23,781, announced transactions 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023684663737846942 898928908 8561,124 977 691 Sport and services Infrastructure Sporting goods Tech, data and analytics Media and entertainmentCAGR, 2007–20221+3.1% 15220522055 1451951965869 16420721378 185205275 20726430684 1772562949780 1672613009782 219233291131106 16918330314598 189167321147104 21419428712291 20518924711996 221200243145117 210137302161116 259169320195 242117295169 1669521696118154181 926 926980 907 904 81 107 74 7552 -3.7%+2.0%+8.2%+7.1%Sport transaction count FIGURE 10 Notes: 1. Excluding 2023 in account of market-wide capital constraints from interest rate hike; CAGR = compound annual growth rate; ~5,000 transaction are omitted due to unavailable mapping. Source: CapIQ – all transactions with “sport” in CIQ industry classification, data extracted April 2024, Oliver Wyman analysis In 2025, sports tourism accounted for 10% of global travel expenditure, with revenues growing at a compound annual rate of 28% since 2020. Sports for People and Planet 13

Sports for People and Planet 2026