New Delhi, Oct. 21 -- More wealthy families are coming off the bleachers to invest in sports.

One in five family offices-firms that manage everything from the ultrawealthy's personal portfolio to their budgets and lifestyles-have a stake in a team or franchise and that figure is likely to grow, according to a survey from Bank of America Private Bank published on Tuesday.

Aside from investing in teams, another 18% of family offices are invested in sports-related opportunities such as infrastructure, merchandise and equipment, according to Bank of America, which surveyed 355 family office decision makers.

What's prompting the interest? The younger generation, who are taking leadership positions in family offices. Investing in sports was ...