Sports franchises are opening up to outside investors, and Tony Robbins has used that shift to build stakes in several major American teams.

• League rules changed to let investment firms buy pieces of pro sports teams, widening who can own them.
• Robbins now holds stakes in the Dodgers, Red Sox and Golden State Warriors.
• His first deal was LAFC, alongside Peter Guber's group, which required a year of vetting before approval.
• That early stake meant building the club from scratch — colors, stadium, brand — rather than just writing a check.
• The pitch is personal: a poor kid who scraped together money for outfield seats now owns part of the team.

Outlook: With firms allowed in, expect more institutional money chasing minority stakes in big-league franchises and valuations to keep climbing.