We have witnessed high-profile celebrities toss their names in the basket to become sports owners. However, landing the title requires billions of dollars. Even some of the wealthiest Black celebrities would not qualify at the moment, despite their net worths.
Forbes reports that 50 of the most valuable teams are worth $3.4 billion, up 9.9 percent between 2020 to 2021 and a 55 percent increase from the previous six years. Michael Jordan purchased the Charlotte Hornets for $275 million in 2010, ESPN reports, and the team is valued at $1.58 billion today.
Since purchasing a team is often around the billion dollar mark, we have seen several high-profile names explore minority ownership, more so within the last two decades. Plus, this route affords various benefits. Usher (Cleveland Cavaliers in 2005 for $9 million), Jay-Z( Brooklyn Nets in 2004 for $1 million), and Shaquille O’Neal (secured five percent stake in Sacramento Kings in 2013) are just some heavy hitters who secured minority ownerships in teams within the last two decades.
As more Black stars strengthen their business portfolios, we could potentially see a team owned by a player in the Hip-Hop community or another athlete. Or perhaps, they could consider combining their hard-earned cash to form a sports ownership group.
Here’s a list of Black celebrities who have expressed hopes of one day becoming a team owner at some point.
Kanye West, who has an estimated net worth of $1.8 billion, previously made headlines for his interest to purchase the Denver Broncos earlier this year alongside Antonio Brown.
“When we got the free agent receiver out in Los Angeles just days ago, he told us the goal is still on their minds, and it’s a legitimate one, explaining he and Ye are “extremely serious” about making it all happen,” Brown told TMZ Sports. “Tell Roger [Goodell] to call me. “We’re working on it … We’re working towards getting it done.”
West also hinted at potentially buying the Chicago Bulls in the single, “City of Gods,” by Fivio Foreign featuring himself and Alicia Keys.
“After I buy the Chicago Bulls I’ma go link with Mike,” Ye claimed.
As AfroTech previously told you, Ross is worth an estimated $45 million.
Rick Ross previously had his eyes on the Miami Heat and the Miami Dolphins.
Should @MiamiDolphins sell me 5% stake in the organization? If so,what would the upside be for both sides or vice versa??
— Yung Rénzél 👑 (@RickRoss) June 6, 2022
Ross is not simply chasing a title. He also looks forward to the community work he can bring to the city.
“I would love to buy five percent of the Miami Dolphins and the big asset I think I’ma bring to the team is financial literacy for the youngstas,” Ross said in a video.
He also said he wanted to purchase a stake in the Philadelphia 76ers after it became public knowledge that Michael Rubin was looking to sell his minority stake in the Sixers.
Sean “Diddy” Combs
According to Celebrity Net Worth, Sean “Diddy” Combs is worth an estimated $900 million.
In 2014, Diddy said he wanted to purchase the Los Angeles Clippers, which has not happened. However, four years later, Diddy was considered for the ownership of the Panthers. Billboard reports the winning bid went to David Tepper for an estimated $2.2. billion back in May 2018.
“I’m more of an owner type of guy,” Diddy said back in 2013, according to Complex. “So I have aspirations to become—it will happen—to become the first African-American majority owner. Not having a small stake but actually owning an NFL team. I think it’s time for that. A majority of the players in the NFL are African-American but there are no African-American owners. So that’s one of my dreams.”
It’s unclear at the moment whether or not Diddy still wants ownership of a team.
Forbes estimates LeBron James to have a net worth of $1.2 billion.
Already, LeBron is part-owner of several teams. As AfroTech reported, James has a partnership with Fenway Sports Group that has placed the Boston Red Sox, Pittsburgh Penguins, and Liverpool Football Club of the English Premier League under his belt.
Now, he has his eyes set on owning an NBA franchise.
“My goal is to own an NBA franchise,” LeBron said, according to Yahoo! Sports. “And it’ll be sooner than later.”