Gabelli Funds believes the 2026 FIFA World Cup will be a pivotal moment for soccer, potentially increasing the valuation multiples of soccer teams by 20%-30% if U.S. adoption accelerates post-2026. This could represent billions in incremental enterprise value for leading clubs, driven by enhanced media rights, sponsorships, ticket sales, and merchandising. The investment thesis centers on the World Cup accelerating soccer's adoption in the U.S., creating lasting commercial benefits for clubs worldwide.
The Gabelli Opportunities in Live & Sports ETF (GOLS) is positioned to capitalize on this trend by investing in publicly traded soccer clubs and related businesses. Its holdings include major pure-play global soccer teams like Manchester United, Juventus, Borussia Dortmund, Ajax, Benfica, Celtic, Porto, and Fenerbahçe. The fund also holds stakes in conglomerates with ownership in teams across Mexico, England, Japan, Denmark, Italy, and Canada, with 26% of the fund exposed to global soccer teams.
While GOLS offers significant exposure to the soccer market, it also broadly invests in the sports ecosystem. The fund's managers, Alec Boccanfuso and Charlie LaRosa, emphasize that sports franchises are increasingly viewed as scarce assets with long-term appreciation potential, resilient in an AI-driven world due to the irreplaceable value of live human experiences. The World Cup, projected to captivate over 5 billion viewers globally, including $1.5 billion for the finals, is being closely monitored for U.S. viewership trends.
