To buy an American team in sports requires substantial capital. Denver Broncos This is the proof.
According to ESPN’s Jeff LegwoldThe Broncos and Walton-Penner family owned group reached a $4.65 billion sale agreement Tuesday. The NFL’s finance committee will review the sale and 24 league owners must vote in favor of the transaction.
Rob Walton, Carrie Walton Penner, and Greg Penner are part of the Walton-Penner family. Mellody Hobson is also part of the ownership group. She is co-CEO at Ariel Investments and chair of the Starbucks Corp. board. Walton, who is an heir to the fortune of Walmart retail company, was the chairman of the business from 1992 to 2015.
Continue reading: Everything you need to know about the Broncos sale
The Broncos’ historic sale prompted us to consider other notable team acquisitions in American sports.
Here is a list of the most costly franchises in U.S. sport:
Sale price: $4.65 billion
The Broncos’ $4.65 billion purchase by Walton-Penner breaks the previous record for a team in an NFL sale. Former Carolina Panthers Owner Jerry Richardson sold the franchise in 2018 to billionaire David Tepper, for $2.275billion. It is also $2 billion more than the nearest U.S. sport team sale.
Walton has a net worth of $57.9 million according to Forbes. Ann Walton is Ann Walton’s cousin and another Walmart heir. Los Angeles Rams owner Stan Kroenke. Kroenke also owns the Colorado NBA’s. Denver Nuggets, NHL’s Colorado Avalanche MLS’s Colorado Rapids.
Sale price: $2.4 billion
Before the Broncos, the Mets were the most expensive American sports team until they acquired the Mets. In 2020, hedge fund manager Steve Cohen purchased the Mets for $2.4 billion. The Los Angeles Dodgers The previous record for the most expensive MLB team sale was held by the Chicago Cubs when they were sold for $2 Billion in 2012.
Cohen was the founder of Point 72 Asset Management, and later defunct SAC Capital Advisors.
Sale price: $2.35 billion
Joe Tsai is the co-founder of Alibaba in 2019. bought the Nets for $2.35 billion Russian billionaire Mikhail Prokhorov. Tsai was already in 49% ownership of Prokhorov’s 2018 purchase, but Prokhorov has accelerated the timeline for full ownership. Tsai also acquired Barclays Center, the Nets home arena, in separate transactions worth roughly $1 billion.
Tsai doesn’t just own Brooklyn. Tsai bought the WNBA. New York Liberty franchise in Jan. 2019.
Sale price: $2.275 billion
After the 2017 NFL Season, the Panthers became readily available for sale. sexual harassment and workplace misconduct accusations were made against former owner Richardson. Tepper, who has a net worth of $16.7 billion according to ForbesThe team was purchased by, $2.275 billion. Before taking over Carolina Tepper held a 5% ownership interest in the company. Pittsburgh Steelers.
Appaloosa founder, also spent $325 million 2019 will see the 30th MLS team. Charlotte FC.
Sale price: $2.2 billion
Former Rockets owner Leslie Alexander sold it to Texas native billionaire Tilman Fertitta for $2.2billion in 2019. Fertitta is a Galveston native and was an avid sailor. regular attendant at Houston’s games Before buying the franchise.
According to his websiteFertitta Entertainment’s sole owner is Fertitta. He also owns the Rockets, Landry’s restaurant, the Golden Nugget Casinos, Hotels, and Restaurants. Fertitta is also the host of “Million-Dollar Buyer”, a TV program on CNBC.