Private equity doesn’t inherently “centralize power”; it injects capital and expertise into sectors that are underfunded, inefficient, or financially stagnant. In many industries - sports included - PE has revitalized struggling organizations, preserved jobs, modernized operations, and expanded consumer options.
In sports, PE has grown leagues rather than monopolized them:
Formula 1 exploded globally after Liberty Media’s investment
UFC became a mainstream powerhouse after PE-backed Endeavor professionalized its operations
European soccer clubs stabilized financially when PE firms helped restructure debt and upgrade infrastructure
These aren’t examples of “killing small businesses”, they’re examples of taking underperforming assets and improving them. PE is also high-risk capital: firms only succeed if the underlying business succeeds long-term. They don’t win unless fans, athletes, and the product win too.
PE isn’t automatically predatory; when done right, it brings capital, innovation, and sustainable growth to systems that need it.