Sports ownership is one of the most coveted assets in today’s world.
Many want in but very few can pay to play (pun intended).
And with team valuations exploding over the past several years, entry points have become even higher.
Not to mention, there is an aspect of scarcity. There are a limited number of teams in any given league and most are rarely on sale.
It’s a difficult game to get in on even if you’re one of the world’s wealthiest or have aspirations of being one.
Luckily there’s a lot of transparency around who these team owners are and how they initially made their fortunes.
One path that can help you get there?
Technology.
Here Are 10 Sports Team Owners Who Made Their Money In Technology
Robert Pera
Robert Pera is the founder of Ubiquiti Networks, Inc. a global communications technology company that he took public in 2011. He got the idea will working for Apple and owns 93% of the company. He originally bought the team for $377 million.
Team: Memphis Grizzles
Year Bought: 2012
Current Team Valuation: $2.4 billion
Estimated Networth: $6.7 billion
Ted Leonis
Ted Leonis originally made his money as a senior executive at AOL, where he worked for nearly 14 years. He is also a co-founder and partner at Revolution Growth, a venture capital firm helmed by AOL cofounder Steve Case. Leonsis bought the Capitals in 1999 for $85 million and acquired the Wizards in 2010 for $551 million.
Team: Washington Wizards & Washington Capitals
Year Bought: 2010
Current Team Valuation: $2.7 billion & $1.2 billion
Estimated Networth: $2.8 billion
Steve Ballmer
Steve Ballmer is one of the wealthiest team owners in all of sports. He made his billions as the former CEO of Microsoft which is a position he held for 14 years after starting as an intern. Ballmer paid $2 billion for the team.
Team: Los Angeles Clippers
Year Bought: 2014
Current Team Valuation: $4.6 billion
Estimated Networth: $117 billion
Jody Allen
Jody Allen is the sister of Microsoft co-founder Paul Allen who passed away in 2018. She was named executor and trustee of his estate, under his instructions, giving her responsibility for overseeing the execution of his will and settling his affairs with tax authorities and parties with an interest in his projects. Allen also co-founded Vulcan Inc. with her brother to manage their family’s business and charitable endeavors.
Team: Portland Trail Blazers & Seattle Seahawks
Year Bought: 1988 & 1997
Current Team Valuation: $2.2 billion & $4.8 billion
Estimated Networth: $20 billion
John Malone
John Malon served as the CEO of Tele-Communications Inc., a cable and media giant, from 1973 to 1996. He’s also the largest shareholder of Liberty Media, which owns the Atlanta Braves. The team was bought for $1 billion.
Team: Atlanta Braves by way of Liberty Media
Year Bought: 2007
Current Team Valuation: $2.7 billion
Estimated Networth: $10 billion
Henry Samueli
Henry Samueli is cofounder and chairman of chipmaker Broadcom. He started the company with fellow billionaire Henry Nicholas in 1991 in a Redondo Beach, Calif. condominium. In 2016, Broadcom was acquired by Singapore-based chip firm Avago for $37 billion in cash and stock. He originally bought the team in 2005 for $70 million.
Team: Anaheim Ducks
Year Bought: 2005
Current Team Valuation: $765 million
Estimated Networth: $13.2 billion
Vivek Ranadivé
Vivek Ranadivé is the founder and former CEO of TIBCO Software, a business intelligence software company, and of Teknekron Software Systems. In 2010, he became the co-owner and vice chairman of the Golden State Warriors. When he purchased the Kings in 2013 for $385 million, he had to relinquish his position and shares in the Warriors.
Team: Sacramento Kings
Year Bought: 2013
Current Team Valuation: $2.3 billion
Estimated Networth: Undisclosed
James Dolan
James Dolan’s wealth stems from his father, Charles Dolan who started Cablevision and HBO. The family currently controls Madison Square Garden Sports, MSG Networks, Madison Square Garden Entertainment, Madison Square Garden, Sphere, Radio City Music Hall, BBC America, and AMC Networks.
Team: New York Knicks & New York Rangers
Year Bought: 1994
Current Team Valuation: $6.5 billion & $2 billion
Estimated Networth: Family around $5.5 billion
Joseph Tsai
Joseph Tsai is a co-founder and chairman of the Chinese multinational technology company Alibaba Group. He initially invested in the Nets in 2017, purchasing a 49% stake in the Nets from Russian billionaire Mikhail Prokhorov.
The deal valued the team at $2.3 billion at the time, with the option to buy the remaining stake of the team no later than 2021. He exercised that option in August 2019, and at the same time, bought the Nets’ arena from Prokhorov for nearly $1 billion in a separate deal.
Team: Brooklyn Nets
Year Bought: 2019
Current Team Valuation: $3.8 billion
Estimated Networth: $8.3 billion
Mark Cuban
Although Mark Cuban recently sold a majority stake in the Dallas Mavericks to the Adelson family, he is still involved with the team. Cuban co-founded MicroSolutions and grew the company to more than $30 million in revenue. In 1990, he sold MicroSolutions to CompuServe for $6 million.
A few years later he co-founded Broadcast.com which he eventually sold to Yahoo for $5.7 billion in Yahoo! stock. He is famously known for shorting the stock right before the dotcom crash which protected his fortune. He bought the Dallas Mavericks for $285 million.
Team: Dallas Mavericks
Year Bought: 2000
Current Team Valuation: $3.5 billion
Estimated Networth: $6.2 billion
