This research explores the relationship between brand equity and on-field performance in professional sports. Based on data from 1,781 German soccer matches, the result of this exploratory study suggest a positive but diminishing impact of brand equity on performance; that is, increases in brand equity stimulate on-field performance more at lower levels than comparable improvements at higher levels of brand equity. The findings help managers and marketing executives of sports clubs justify financial branding investments to their shareholders. However, they also call for a careful evaluation of investments to achieve high levels of brand equity.