There’s Money in Bull Riding, and Big Law Is Getting Its Share

Women’s soccer. Pickleball. Indoor golf. Even bull riding is a target for private equity money flowing into the sports business.

Deals now span far beyond investing in the four major US professional leagues. That’s boosting Big Law’s M&A practices, including at law firms long known for representing the billionaire buyers and sellers of the country’s largest sports teams.

Just about any business that generates revenue from athletes chasing balls—or mounting 1,500-lb bucking bovines—is getting the attention of investors. That includes emerging sports leagues, media companies, or maintaining the green grass at the 80,000-seat AT&T Stadium in Dallas known as “Jerry ...