Juliana Faircloth, Vice President & Director, Portfolio Research, TD Asset Management Inc.

There was a time when investing and sports were separate realms-one driven by fundamentals, the other by fandom. But today, the line between these two worlds is increasingly blurry. Canadian sports franchises, especially in hockey, are no longer just entertainment vehicles-they are testing grounds for digital innovation, mass marketing opportunities and increasingly assets of significant value. For investors looking to understand the future of investing, the evolution of sports franchises offers an unexpected, but powerful, lens.

The digital icebreaker: Technology comes to the arena

This transformation started small, with fantasy leagues and mobile ticketing, but it's morphed into something far more ambitious. From blockchain ticketing (blockchain technology to create secure, transparent, and verifiable event tickets) to non-fungible token (NFT) collectibles, sports franchises are becoming proving grounds for emerging technologies.

Take the Montreal Canadiens, who recently partnered with a blockchain firm to secure digital tickets and track fan engagement. The Toronto Maple Leafs are experimenting with augmented reality and digital loyalty rewards to deepen fan involvement. These aren't marketing gimmicks-they're test cases for broader applications of blockchain and digital finance.

Why does this matter to investors? Because sports fans are emotionally invested users-prime guinea pigs for testing new tech with real-world stakes. If something works in the emotionally charged environment of sports, it often works elsewhere.

Virtual arenas, Esports, and monetizing digital real estate

Companies like Maple Leaf Sports & Entertainment (MLSE) are going even further. They're building virtual arenas and launching Esports teams, tapping into the growing convergence between gaming, entertainment, and commerce.

These are not side hustles-they're long-term investments in the metaverse economy. And while the term "metaverse" has cooled, the infrastructure supporting it, virtual reality and augmented reality (VR, AR) and persistent digital environments-is still growing.

Canadian firms building this infrastructure, from e-commerce enablers to digital design studios, are worth watching. For retail investors, the sports-tech link can serve as a proxy to identify new opportunities in digital engagement.

From passion project to powerhouse

Sports franchises have seen astounding increases in valuation over the years. Take the Los Angeles Lakers, a legendary NBA team. The Buss family bought the franchise for $67.5M in 1979, and recently sold a majority stake at a $10B valuation in June 2025¹, making it worth almost 150x more than the original price tag. An example closer to home would be Rogers, who owns or has majority ownership of Toronto's most iconic sports teams including the Raptors, Maple Leafs, and Blue Jays. The management team has become increasingly serious about selling a minority stake in their sports assets and they peg the value at $15 billion². As a result, Rogers' stock has moved up 30%³ in recent months, a rise that coincides with reports of a potential sale and what that level of cash influx might do to the company's balance sheet.

While the star-studded list of billionaire owners cannot be separated from the high valuation of sports teams, the increase in valuation over the years can also be attributed to the innovation we've seen from how the franchises are run. Sports teams have evolved from passion projects to well-oiled entertainment and marketing machines. The combination of season tickets, concession stand sales, fan merchandise, sponsorships, and widespread broadcasting has made it into an attractive and viable business model. Looking forward, as teams continue to innovate in the areas of fan engagement through using NFTs and virtual fan interactions, the valuation of these companies could continue to grind higher.

What’s investable today?

Let’s get practical. Here are some ways investors can explore this theme:

• Public companies with ownership in franchises (e.g., Rogers).
• Canadian tech firms enabling digital fan engagement (e.g., Shopify, Dapper Labs).
• ETFs with exposure to digital infrastructure or global sports-related brands.
• Private equity or crowdfunding platforms investing in sports-tech startups.

Caution is warranted, of course. Many of these areas are volatile, under-regulated, or speculative. But watching how sports franchises adopt tech offers a real-time preview of future finance.

The new lab coat is a jersey

Sports franchises are turning into microcosms of the digital economy-testing NFT monetization, token governance, and immersive platforms. For investors, that's a rich sandbox of innovation.

In a world where financial products are becoming more personalized, social, and emotionally resonant, understanding how sports franchises monetize loyalty and attention is a competitive advantage. So, the next time you hear about a hockey team launching a blockchain partnership or fan token-don't roll your eyes. It might just be the future of investing, dressed in a jersey.

¹ ESPN Research and The Associated Press, June 18, 2025.

² Rogers Q2 2025 press release.

³ Bloomberg Finance L.P. Data from April 15 to July 15, 2025.

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道明资产管理有限公司 (TD Asset Management Inc.) 是道明银行 (The Toronto-Dominion Bank) 的全资拥有附属机构。

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