MSP Sports Capital, a $2.5B New York-based PE fund co-founded by former MLB executive Jeff Moorad and Jahm Najafi, has deployed $1.5B across high-profile sports properties including McLaren Racing and Wasps Rugby. The firm's core thesis targets minority ownership of globally recognized franchises and media assets where capital can unlock valuation upside without operational control risk. this minority-stake model differs sharply from traditional sports PE buyouts—MSP prioritizes equity appreciation through brand monetization and media rights growth rather than margin expansion. McLaren's subsequent recapitalization by Mumtalakat demonstrates the exit playbook: secure meaningful stakes in assets with institutional-grade media footprints, then distribute to larger strategic or sovereign investors. The portfolio construction—weighted toward F1, European rugby, and sports tech—reveals MSP's bet on property-level media value concentration and cross-border institutional capital flows into premium sports IP. For LP returns, execution depends on media rights renegotiations and franchise valuation comps resetting upward.