As the 2026 FIFA World Cup captivates billions of viewers worldwide, Gabelli Funds believes the tournament could become a watershed moment not only for the sport but also for investors seeking exposure to publicly traded soccer clubs.
Alec Boccanfuso, portfolio manager of the Gabelli Opportunities in Live & Sports ETF (NYSE:GOLS), described the World Cup as the “most significant inflection point in modern soccer’s commercial history.”
A Potential Valuation Catalyst For Soccer Clubs
The investment thesis centers on the idea that the World Cup could accelerate soccer’s adoption in the U.S., creating lasting commercial benefits for clubs around the world.
“The Cup can lead to a structural uplift as it has the potential to permanently embed soccer into the cultural mainstream of the largest sports economy. In turn we believe there can be a potential 20%-30% uplift in soccer team valuation multiples if U.S. adoption accelerates post-2026, representing billions in incremental enterprise value for leading clubs,” said Boccanfuso.
The argument comes as investors increasingly view sports franchises as scarce assets capable of generating revenue from media rights, sponsorships, ticket sales and merchandising. A stronger U.S. fan base could further enhance those revenue streams, particularly for Europe’s largest clubs.
Gabelli is also watching audience trends closely as the tournament unfolds, said Boccanfuso. “We will be closely monitoring viewership for the World Cup (projected 5 billion + viewers with ~1.5 billion watching the finals alone), especially in the US market.”
How GOLS Is Positioned For The Theme
For investors looking to capitalize on the trend, GOLS provides direct exposure to publicly traded soccer clubs and related businesses.
According to Boccanfuso, the fund owns “11 major pure-play global soccer teams. This includes some of the most valuable and most followed teams in the world including some of the biggest clubs in Europe. In addition to that, we own 6 conglomerates that have significant exposure to soccer teams in Mexico, England, Japan, Denmark, Italy, and Canada. In terms of holdings, 17 out of our 43 names are related to global soccer teams (which we believe is the largest and most diverse exposure to soccer teams one can get in a vehicle on the public markets). Put another way, 26% of the fund is exposed to global soccer teams.”
Among the ETF’s soccer-related holdings are Manchester United, Juventus, Borussia Dortmund, Ajax, Benfica, Celtic, Porto and Fenerbahçe. The fund also owns companies with ownership stakes in teams across Mexico, England, Japan, Denmark, Italy and Canada, broadening its exposure beyond Europe’s largest clubs.
Beyond Soccer: A Bet On The Sports Ecosystem
While soccer is a major component of the portfolio, Gabelli positions GOLS as a broader play on the business of sports.
Charlie LaRosa, head of ETFs and vice president on the Value Investment Team at Gabelli Funds, said investors can gain exposure to franchises and ownership groups across multiple sports through the ETF.
“As soccer fans debate which country will hoist the FIFA World Cup Trophy, investors can step onto the pitch and potentially win as well. The Gabelli Opportunities in Live & Sports ETF offers a direct play on the full sports ecosystem – from iconic global clubs like Manchester United and Borussia Dortmund to ownership groups like the Atlanta Braves and New York Knicks.”
The fund’s broader holdings reflect growing investor interest in sports franchises as alternative assets with long-term appreciation potential.
Why Sports Teams Are Attracting Investors
LaRosa argues that sports franchises possess characteristics that make them attractive in an increasingly digital world.
“Investing in publicly traded sports teams means you aren’t just a fan in the nosebleeds anymore; you are a partial owner of a cultural juggernaut. You're capturing the massive financial upside of soaring media rights, sold-out stadiums and unshakeable loyalty. In an increasingly AI-driven world, sports remain a uniquely resilient asset class, anchored by the irreplaceable value of live, human experience.”
Still, publicly traded soccer clubs have historically delivered mixed returns, with performance often tied to on-field results, player transfers and qualification for lucrative competitions. Whether the World Cup ultimately delivers the valuation uplift Gabelli anticipates remains uncertain.
But with soccer aiming to deepen its foothold in the world’s largest sports market, the tournament could become a defining moment for both fans and investors.
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