This chapter explores the intersection between international investment law and the sports industry, focusing on the applicability of investment treaties to both tangible and intangible sports-related investments. As foreign capital increasingly flows into sports infrastructure, broadcasting rights, club ownership, and sponsorship agreements, investors face regulatory, political, and legal risks that are often underappreciated. The chapter assesses whether such investments can be protected under bilateral and multilateral investment treaties, analysing jurisdictional thresholds and the application of core treaty standards, including protection against expropriation, fair and equitable treatment, full protection and security, and umbrella clauses. It draws from arbitral jurisprudence and sector-specific examples to evaluate the scope and limits of treaty-based protections in this context. The analysis concludes that while investment treaties can offer meaningful legal safeguards for sports investors, their effectiveness depends on careful structuring, treaty language, and sensitivity to the public interest functions inherent in the governance of sport.