Sal Galatioto's firm has closed 200+ sports transactions, positioning itself as the earliest dedicated M&A advisor in a market now flooded with generalist banks. The minority stake model—taking smaller cuts of team equity and league assets—allows Galatioto to operate at lower valuations while capturing fragmented ownership consolidation. this advisory-first approach bypasses capital-raising friction that slows traditional PE and avoids the valuation wars plaguing majority-stake competition. Galatioto's strategy works because ownership atomization in sports assets creates recurring deal flow without requiring $5B+ AUM. As institutional capital chases larger fund structures, niche advisory wins on speed and deal volume—the economics of specialization in a market that still fragments ownership rather than consolidates it.