Majority of investors consider sports, gaming, and music rights too risky, new survey finds

Goldman Sachs recently called sports investing the next trillion-dollar market.

So the answers that 107 institutional investors from around the world gave to a survey this fall are surprising. Nine in 10 said it’s too risky.

They also showed little appetite for two other hot areas — gaming and music rights, which NYT says is being swallowed, and ruined, by private equity. Middle Eastern investors may have this space to themselves.

The report has grim news for the industry: 90% of investors said they’ve received requests from money managers for fund extensions as dealmaking remains slow, and more than two-thirds said they’ve seen funds raise less than what managers had targeted.