This chapter explores how sport is evolving into a platform-centric asset class, where diversification is no longer optional but essential to long-term value creation. Driven by increased professional investment, the industry faces a strategic inflection point. Based on market data and expert interviews, the authors present three future scenarios for sports investment, each reflecting different dynamics of media control, technological disruption, and competitive intensity. They show how diversification across sports, regions, value chain segments, and development stages can reduce exposure to risk while unlocking new growth opportunities, especially in women’s sports, emerging formats, and tech-enabled fan engagement. The chapter highlights that future-proof portfolios will depend on governance flexibility, fan-data ownership, and network effects, which position agile investors ahead of late entrants who are more vulnerable to volatility and hype cycles.