The sports moguls have employed a variety of methods to raise more money, boost the value of their vast holdings and create a diverse international behemoth that promises to pay off in the future.
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eam owners win big by leveraging and extending their brands and intellectual property. They’ve done this in a number of different ways: by acquiring more teams, charging higher prices for media rights, expanding content distribution through streaming, cross-selling sponsorships through various sports properties, developing mixed-use real estate and investments Sports – related technology, analytics, sports betting and niche sports such as indoor lacrosse.
The result: The combined market capitalization of the world’s 25 most valuable sports empires is $174 billion, up 23 percent from a year ago. This year, we added a new premium of 10% to the total value of the sports empire to account for the scalability that comes with owning multiple sports properties. Even without the premium, the top 25 sports empires are still faring much better than they were last year. They should have grown 11.9% to $158 billion.
Liberty Media’s sports empire, valued at $21 billion, tops the list. Led by billionaire John Malone, Liberty’s major sports properties are the Formula One race track (enterprise value: $17.1 billion) and the Atlanta Braves MLB team ($2.1 billion). Formula 1 is doing well in 2022, with the ESPN series averaging 1.21 million viewers, a record for the series, and signing a new TV deal in June that is reportedly worth at least $75 million a year USD, which is 15 times that of the previous agreement. No wonder Saudi Arabia’s sovereign wealth fund considered buying Formula 1 last year for $20 billion, according to Bloomberg.
As for the 2021 World Series champion Atlanta Braves, Malone, who bought the team for $400 million in 2007, appears to be preparing to sell for a profit. Thanks in part to The Battery Atlanta, the Warriors’ new arena and mixed-use real estate project, revenue was $535 million in the first nine months of 2022, compared with $466 million in the same period in 2021. There are worse things to Malone than gambling. Over the past year, shares tracking Formula 1 and the Atlanta Braves have risen 5% and 35%, respectively, while the S&P 500 has fallen 13%.
Malone is the exception rather than the rule among sports empire owners. Instead of using stock to back their strategy, many of them have built their most valuable teams, with some believing in dominating local markets and others with a global eye.
Jonathan Hansen/Redux
Billionaire Ted Leonsis, who owns Monumental Sports and Entertainment, is a prime example of local market domination. MSE owns Washington’s NBA Wizards and NHL Capitals, as well as Capital One Arena, the building where the two teams are located. MSE recently purchased the 66% stake in NBC Sports Washington that it didn’t already own, giving Leonsis control over his content distribution. We value MSE at $4.51 billion, making it No. 20 on our list. Leonsis appears to be hoping to expand his local sports empire with the acquisition of MLB’s Washington Nationals.
An example of a more global thinker is Kroenke Sports and Entertainment, an empire run by billionaire Stan Kroenke that spans from England (Arsenal, the soccer team) to the American West (Colorado Avalanche in the NHL, Denver in the NBA). Nuggets and the NFL’s Los Angeles) Angeles Rams). KSE’s enterprise value totals $12.75 billion, good enough for second place on this year’s list. Kroenke loves real estate and has poured more than $5 billion of his own money into his football team’s new SoFi Stadium and nearby Hollywood Park, which includes everything from food and fitness to arts and entertainment.
Harris Blitzer Sports and Entertainment has a significant presence in sports technology and venture capital opportunities. Of course, its key is to own the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. But by our count, HBSE is number 18 on our list, with a valuation of $4.65 billion, with over $100 million of its value coming from its stakes in technology, esports, and lifestyle investments via Elevate Sports Ventures, Asset venture capital such as New Meta Entertainment and HBSE.
Investment firms, as new entrants to team ownership, may no longer be content with small teams. Of course, North American leagues like the NBA, MLB, and NHL have limits on the amount of shares an institutional investor can own, while the NFL completely prohibits it. But it is possible to use a big European brand to re-own a big-name template. Best example: RedBird Capital, a newcomer to the top 25 with its $1.28 billion acquisition of a controlling stake in Italian soccer team AC Milan in June. The year before, RedBird bought an 11 percent stake in Fenway Sports Group, which owns the MLB’s Boston Red Sox, English soccer team Liverpool and the NHL’s Pittsburgh Penguins. RedBird is No. 25 on our list, worth $3.6 billion. Fenway is worth $10.4 billion, good enough for fourth place.
The world’s most valuable sports empires in 2023
* Indicates that the shareholding ratio is 50% or less
Patrick Smith/Getty Images
1. Free Press
value: $20.8 billion
characteristic: Atlanta Braves, Formula 1 League*, Kroenke Arena Co.*, Meyer Shank Racing*, Overtime Sports*
Key figures: Gregory Maffei (President and CEO), Albert Rosenthaler (CCDO)
Christian Petersen/Getty Images
2. Kroenke Sports & Entertainment
value: $12.75 billion
characteristic: Los Angeles Rams, Colorado Avalanche, Denver Nuggets, Arsenal FC, Guards, Colorado Rapids, Colorado Mammoth, Altitude Sports & Entertainment
Key figures: E. Stanley Kroenke (Owner and Chairman)
3. Jerry Jones
value: $11.32 billion
characteristic: Dallas Cowboys, Legends Hospitality*, The Star, GameSquare Esports*
Key figures: Jerry Jones (Cowboys owner, president and general manager)
4. Fenway Sports Group
value: $10.4 billion
characteristic: Boston Red Sox, Liverpool FC, Roush Fenway Keselowski Racing*, NESN, Fenway Sports Management, Pittsburgh Penguins
Key figures: John Henry (co-founder and principal owner), Thomas Werner (co-founder and chairman)
Sarah Steele/Getty Images
5. Madison Square Garden
value: $9.17 billion
characteristic: New York Knicks, New York Rangers, Counter Logic Gaming, Hartford Wolfpack
Key figures: James Dolan (Executive Chairman), David Hopkinson (President and COO)
6. Kraft Group
value: $8.4 billion
characteristic: New England Patriots, New England Revolution, UFC*, Kraft Analytics Group, DraftKings*, Oxygen Esports*, Roblox*
Key figures: Robert Kraft (Founder, Chairman and CEO)
7. Yankee Global Enterprises
value: $7.64 billion
characteristic: New York Yankees, Legends Hospitality*, YES Network*, New York City FC*, Yankee Stadium Events, AC Milan*
Key figures: Hal Steinbrenner (Managing General Partner and Chairman)
Catherine Ewell/Getty Images
8. The Glazers
value: $7.53 billion
characteristic: Manchester United, Tampa Bay Buccaneers
Key figures: Brian Glazer (Buccaneers owner and co-chairman), Edward Glazer (Buccaneers owner and co-chairman), Joel Glazer (Buccaneers owner and co-chairman)
9. Paul G. Allen Trust
value: $7.41 billion
characteristic: Seattle Seahawks, Portland Trail Blazers, Seattle Sounders*
Key figures: Jody Allen (Chairman)
claus andersen getty images
10. Maple Leaf Sports & Entertainment
value: $6.42 billion
characteristic: Toronto Raptors, Toronto Maple Leafs, Toronto FC, Toronto Gold Seekers, Toronto Raptors
Key figures: Cynthia Devine (President and CEO), Sabina Rizvi (CFO)
11. 49-person enterprise
value: $5.97 billion
characteristic: San Francisco 49ers, Leeds United* FC, Elevate Sports Ventures*
Key figures: Denise DeBartolo York (49ers Owner and Co-Chairman), John York (49ers Owner and Co-Chairman)
12. City Football Group
value: $5.96 billion
characteristic: Manchester City, New York City, Melbourne City
Key figures: Ferran Soriano (CEO), Roel De Vries (Group COO)
13. Shad Khan
value: $5.95 billion
characteristic: Jacksonville Jaguars, Fulham FC, All Elite Wrestling
Key figures: Shad Khan (Jaguars owner), Tony Khan (Chief Football Strategy Officer; CEO and General Manager, AEW)
Chris Grayson/Getty Images
14. The Benson Family
value: $5.69 billion
characteristic: New Orleans Saints, New Orleans Pelicans
Key figures: Gail Benson (Saints and Pelicans owner)
15. Guggenheim Baseball Management
value: $4.92 billion
characteristic: Los Angeles Dodgers, Spectrum SportsNet LA
Key figures: Mark Walter (CEO)
16. Haslam Sports Group
value: $4.83 billion
characteristic: Cleveland Browns, Columbus Crew
Key figures: Dee and Jimmy Haslam (Managing Partners and Principal Partners)
17. AMB Group
value: $4.77 billion
characteristic: Atlanta Falcons, Atlanta United, PGA TOUR Supermarket, AMBSE Ventures*
Key figures: Arthur Blank (owner)
Christian Petersen/Getty Images
18. Harris Blitzer Sports & Entertainment
value: $4.65 billion
characteristic: Philadelphia 76ers, New Jersey Devils, New Meta Entertainment*, Elevate Sports Ventures*, HBSE Ventures, Utica Comets
Key figures: Josh Harris (Co-Founder and Managing General Partner), David Blitzer (Co-Founder and Co-Managing Partner)
19. Tepper Sports & Entertainment
value: $4.55 billion
characteristic: Carolina Panthers, Charlotte FC
Key figures: David Tepper (owner)
20. Immortal Sports and Entertainment
value: $4.51 billion
characteristic: Washington Wizards, Washington Capitals, aXiomatic*, NBC Sports Washington, Monumental Sports Network
Key figures: Ted Leonsis (Principal Partner and CEO)
Timothy Ludwig/Getty Images
21. Pegula Sports & Entertainment
value: $4.46 billion
characteristic: Buffalo Bills, Buffalo Sabers, Adpro Sports, Buffalo Bandits, Rochester Americans, Rochester Cavaliers
Key figures: Terry and Kim Pegula (owners)
22. The Wilfs
value: $4.36 billion
characteristic: Minnesota Vikings, Orlando City SC, Orlando Price, Wise Ventures
Key figures: Zygmunt Wilf (Vikings owner and chairman)
Ethan Miller/Getty Images
23. Joe Tsai
value: $3.99 billion
characteristic: Brooklyn Nets, San Diego Seals, Las Vegas Desert Dogs, New York Liberty, G2 Esports*, LAFC*
Key figures: Joe Tsai (Nets owner)
24. The Ricketts family
value: $3.73 billion
characteristic: Chicago Cubs, Marquee Sports Network*
Key figures: Tom Ricketts (Cubs owner and chairman)
25. Red Bird Capital
value: $3.6 billion
characteristic: AC Milan, Fenway Sports Group*, Yes Network*, Rajasthan Royals*, Toulouse FC, XFL*, Dream Sports*
Key figures: Gerry Cardinale (Founder and Managing Partner)
method
To qualify as a sports empire, an individual or company must own a majority stake in at least one sports team and must have a combined total investment of at least $100 million in other sports-related assets. The value of our empire is the total value of its holdings multiplied by 1.1. Given the size and breadth of these assets, we believe a 10% premium to the sum of the parts is conservative. The source of our valuations is our most recent NFL, MLB, NBA, NHL, European Soccer Enterprise Value, and forthcoming MLS valuation. For sports-related properties not included in our database, we rely on owners and investors of these businesses, sports bankers, lawyers and media analysts.
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