Sports stocks are the big thing among millionaire investors right now. Apparently, spending in sports rises in nearly all economic environments, and stocks related to sports often follow that trend.
If you are looking to jump into the sports investing game, Nike and Madison Square Garden Sports are great ways to start.
Nike is all about sports, and that has been a gold mine for investors over more than four decades. The company’s revenue and earnings have grown steadily over time, and so has its dividend.
Step-by-step, Nike is slowly growing its reach in the sports world over time. It was Michael Jordan’s basketball shoes which put Nike on the radar, and the company expanded quickly from there.
It is impressive that despite the great competition, Nike has remained a pioneer fashion brand for many years.
The company has been a trendsetter rather than a follower, and that continues today. As the giant in sports clothing, this is a top sports stock to own now and in the future.
Madison Square Garden Sports
Madison Square Garden Sports is the closest you can get today with investment in sports. Although, the company had a rough year with COVID-19 limiting fan access to games, the company is still one of the most valuable in its playing field.
Right now, MSG Sports is in pretty good financial shape. At the end of 2020, it had $70.8 million in cash on hand with $290.8 million of total liquidity available. And there was just $380 million of long-term debt on the balance sheet.
With the pandemic restrictions going down, the company will start letting fans back into the arena, which will put it right back at the game. And for investors, the opportunity to own a piece of the Knicks and Rangers may be attractive.
Are you ready to play with the winners?