Sports Team Valuations + PE involvement
Apollo is in talks to purchase Atletico Madrid for $2.9B, almost double Forbes most recent valuation. How do PE firms justify these valuations when hypothetical P/E multiples are triple digits. Another example is the Lakers selling for 10b, how is that price justified? I understand that the people buying these majority stakes are billionaires but I imagine they are financially savvy enough to not wipe out a fat chunk of their net worth. Appreciate any insight
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