Private equity in youth sports draws bipartisan scrutiny in Congress

Less than 2% of NCAA athletes are drafted into a professional sport, according to NCAA data. Icon Sportswire | Icon Sportswire | Getty Images A bipartisan committee on Capitol Hill scrutinized the role of private equity in youth sports on Tuesday, a potential sign that Congress could be inching closer to intervening. The hearing , titled "Field of Fees: Private Equity's Role in the Commercialization of American Youth Sports," comes as Wall Street continues to expand its presence in youth sports. Lawmakers from both political parties expressed alarm at the trend, while appearing to look for solutions to avoid price hikes to youth participation in sports. "In some markets, consolidation is driving up costs for families while limiting access to more affordable, community-based options," said Rep. Kevin Kiley, chair of the House Early Childhood, Elementary, and Secondary Education subcommittee. "The consequences are clear: A widening participation gap."