Andreessen Horowitz has built a $42 billion war chest with meaningful exposure to sports infrastructure, owning stakes in Overtime, Buzzer, and PlayVS while Marc Andreessen explored NFL minority ownership. a16z's strategy targets the creator-to-fan pipeline rather than traditional media rights—betting that direct athlete monetization platforms outperform league-dependent broadcasters. The firm's portfolio construction (pre-Flutter FanDuel, esports platforms, short-form athlete content) reveals conviction that fragmented, youth-skewing sports consumption will capture premium valuations faster than legacy sports media consolidation.