I don’t know why we’re going down this rabbit hole about owners not being able to pledge their team as collateral. if it is something you’re interested in, I’d encourage you to read the Athletic article. Almost all sports teams are leveraged I’d imagine, most leagues have arranged league level debt through private placements to assist with teams financing and liquidity. All the major leagues have credit ratings of at least A minus.
Let’s not lose sight of the question. Do owners benefit from a rise in franchise value without resorting to selling the team? The answer is yes of course, many ways for them to transform that rise in value to liquid worth. How they capitalize their team is not really the point.
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