In an era dominated by technological advancements and evolving entertainment landscapes, Chris Marangi, the co-Chief Investment Officer (CIO) of Value at Gabelli, is taking a bold step into the future of sports investment with a new fund that focuses on sports and live events. Marangi recently made headlines by ringing the closing bell on Wall Street, marking an important milestone in his new venture, Gabelli Opportunities and Live Sports (ticker symbol: GOLS).
At Gabelli, Marangi is spearheading an investment fund specifically tailored towards public sports assets, a concept deemed revolutionary in the current financial landscape. Unlike previous years, a variety of public sports teams, leagues, and media partners are now available, providing unique opportunities for investors to capitalize on this burgeoning market. From iconic teams like Manchester United to sports promoters and venue owners, GOLS encapsulates a diverse portfolio that embraces the robust profitability and growth potential found within the sports sector.
Marangi emphasizes that sports continue to hold a unique position within the media ecosystem. Despite the fragmentation experienced in media distribution, live sports events remain the linchpin driving viewer engagement, boasting an impressive performance track record. Notably, seven out of the top ten television programs featured last year were sports-related—an indicator of the enduring appeal of sports content in attracting audiences. Big tech companies, including Apple, Netflix, and Amazon, have also recognized this trend, actively bidding on sports broadcasting rights and further validating the significant market potential in this sector.
What sets Gabelli’s approach apart is Marangi’s focus on the value proposition of sports franchises. Over the past twelve years, sports teams have shown an incredible capacity for value appreciation, outperforming the S&P 500 with compound annual growth rates of approximately 15%. This growth stems from the intrinsic characteristics of sports businesses: rarity, strong pricing power, low capital intensity, and recurring revenue streams—qualities that investors covet for long-term stability and profitability.
With his extensive experience on Wall Street, Marangi offers a forward-looking perspective for investors in 2026. Despite headwinds such as rising interest rates and geopolitical uncertainties, he remains optimistic about the resilience of the American economy and sees opportunities for value-focused investments. He notes that while stocks may seem expensive overall, there are still pockets of value, particularly among smaller-cap stocks that can yield substantial returns.
Artificial Intelligence (AI) is another significant trend influencing investment strategies. Marangi acknowledges that AI represents a transformative force in business operations, yet cautions that the market may experience volatility akin to past events. He highlights the importance of diversification, particularly for investors gravitating toward highly publicized AI stocks. In an interesting perspective, Marangi views investments in traditional sports franchises like the Atlanta Braves as a counterbalance to the AI trend—an asset class that remains irreplaceable with technology.
Chris Marangi’s insights underline the significant shifts occurring in investment paradigms, particularly in the realms of sports and technological innovation. As the co-CIO of Value at Gabelli, he is advocating for a shift toward investments that are not only financially sound but also aligned with the viewing preferences of modern audiences. The nexus of sports, media, and emerging technologies opens a landscape ripe for entrepreneurship and sustainable investing, presenting myriad opportunities for those willing to explore this dynamic market.