Who are the owners of the NBA?
Analysis of franchises and their operating entities
No asset in the world is as valuable or desired as an NBA team these days.
Why purchase an NBA team?
First, a fundamental. You must enjoy basketball.
But the billionaire owners are not simply motivated by that. Currently, a franchise is worth $1.3 billion on average. More than 1057% more since 2002 and 250% more than five years ago.
Investing in the NBA is more profitable than investing in Wall Street.
Consequently, the NBA ownership is a fiercely exclusive club that can only host a few members at a time and rarely opens its doors to new members.
Let’s see who are the owners of the NBA franchises.
Atlanta Hawks
Owner: Tony Ressler
Operating Entity: Atlanta Hawks, LLC
The Atlanta Hawks Basketball Club was acquired by a group led by Tony Ressler, who also acts as the club’s principal owner and chair.
Grant Hill, a former NBA player, Sara Blakely, the creator of Spanx, and Jesse Itzler, an entrepreneur, are also members of the ownership group.
The Hawks were one of the original franchises of the NBA when the league was established in 1949. The squad managed to win one championship after that, in 1958, but hasn’t had much success since. The young Hawks core, led by Trae Young, has emerged as a contender, raising the worth of the organization.
Seven years ago, Ressler paid $850 million, and today the franchise is worth $1.83 billion.
Boston Celtics
Owner: Wycliffe Grousbeck
Operating Entity: Boston Basketball Partners LLC
Wycliffe Grousbeck has served as the Bolton Celtics’ president, managing partner and chief executive officer since approving the team’s purchase; after this the new ownership group was formed at the end of 2002.
Grousbeck has presided over 17 playoff appearances since he bought the team for $360 million over the course of twenty years, winning a championship in 2008.
Wyc Grousbeck, H. Irving Grousbeck, Stephen Pagliuca and The Abbey Group, represented by Robert Epstein with the addition of Paul Edgerley, Glenn Hutchins and James Pallotta, make up the current membership of the executive committee.
Brooklyn Nets
Owner: Joseph Tsai
Operating Entity: J Tsai Sports
Since September 2019, Joseph Tsai has become the Brooklyn Nets’ owner. The Chinese billionaire made his fortune thanks to Alibaba, of which he is a co-founder
When Tsai bought a 49 percent stake in the Nets from Prokhorov in 2017, he entered the market for significant sports franchise ownership for the first time. He paid almost $2.3 billion for this 49 percent ownership. Tsai acquired ownership of the Nets in September 2019 for an extra $1 billion. The Barclays Center was a part of the deal.
The Nets were most recently valued at $3.2 billion by Forbes.
Charlotte Hornets
Owner: Michael Jordan
Operating Entity: Hornets Basketball Holdings, LLC
Michael Jordan, who acquired a majority ownership stake in the Charlotte Hornets in 2010, is the team’s primary owner.
For roughly $180 million, Jordan purchased the Hornets, who are currently valued by Forbes at over $1.3 billion. As of today, Jordan owns about 97 percent of the team’s capital.
They have never won an NBA championship and have not participated in the playoffs since 2016.
Chicago Bulls
Owner: Jerry Reinsdorf
Operating Entity: Chicago Professional Sports Limited Company
After making his fortune in real estate in the 1960s and 1970s, Reinsdorf bought the Chicago White Sox in 1981 and the Chicago Bulls in 1985.
Reinsdorf has owned the Bulls for the past 30 years, during which time he has earned six championships.
Given that the Bulls are currently valued at $3.6 billion, Reinsdorf’s initial investment of $16 million in the team has increased by 22.700%.
Cleveland Cavaliers
Owner: Dan Gilbert
Operating Entity: Cavaliers Entertainment LLC
One of the NBA’s wealthiest owners is Gilbert. Gilbert, who founded Quicken Loans in 1985, has a net worth of $51.9 billion. For $250 million, he acquired the Cavaliers in 2005. The franchise was reportedly worth $1.65 billion.
In 2016, the Cavaliers won their first championship in team history under his leadership.
His brother, Gary Gilbert, is a co-owner, along with former San Jose Sharks (National Hockey League) co-owner Gordon Gunda and pop icon Usher.
The team hasn’t made the playoffs since James’ exit in 2018.
Dallas Mavericks
Owner: Mark Cuban
Operating Entity: Dallas Basketball Limited
Mark Cuban is an American businessman who owns the Dallas Mavericks, co-owns 2029 Entertainment, and is president of AXS TV. He is best known for his role on Shark Tank, the ABC reality television series, where he appears as one of the main “shark” investors.
Cuban bought the Mavericks in 2000 for $280 million and has since been one of the most involved and forward-looking owners in the league. The franchise currently has a value of $2.72 billion.
Denver Nuggets
Owner: Stan Kroenke
Operating Entity: Kroenke Sports & Entertainment
American billionaire Stanley Kroenke is the owner of the Denver Nuggets and many other sports franchises, including the English Premier League football club Arsenal, the NFL’s Los Angeles Rams, and the NHL’s Colorado Avalanche.
The Kroenke family bought the Nuggets in 2000 for $450 million. The Nuggets are now worth $1.93 billion, up 12% from last year, with an estimated $67 million of operating revenue.
Detroit Pistons
Owner: Tom Gores
Operating Entity: Palace Sports & Entertainment
Tom Gores founded Platinum Equity, a California-based private equity firm before becoming the owner of the Detroit Pistons in 2011. By 2015, he had become the sole owner of the team by paying $325 million.
Despite having won three NBA titles (1989, 1990, and 2004) and 41 playoff appearances since the NBA’s establishment, the Pistons franchise is among the lowest-valued clubs in the league with $1.74 billion of value.
Golden State Warriors
Owner: Joseph Steven Lacob
Operating Entity: GSW Sports LLC
Joseph Steven Lacob, a partner at US venture capital firm Kleiner Perkins, is the majority owner of the Golden State Warriors.
In 2014, Joe Lacob bought the Warriors for $450 million. Under Lacob’s guidance, the Warriors have become a legitimate dynasty. They have made it to the Finals for five years in a row and have claimed 4 titles in 2015, 2017, 2018 and 2022.
According to Forbes’ latest estimates, Golden State is worth $7 billion, $900 million more than the second-ranked New York Knicks.
Houston Rockets
Owner: Tilman Joseph Fertitta
Operating Entity: Fertitta Entertainment
Tilman Fertitta is President and CEO of Landry’s, a hospitality company with more than 1,300 restaurants and bars in the United States. He is also the founder of the Golden Nugget Hotel & Casino in Las Vegas. Forbes refers to him as the world’s richest restaurateur, with an estimated net worth of $4.5 billion.
Tilman Joseph Fertitta bought the Houston Rockets for $2.2 billion in 2017. Today the franchise is worth $3.2 billion.
Indiana Pacers
Owner: Hebert Simon
Operating Entity: Pacers Sports & Entertainment, Pacers Basketball, LLC
Herbert Simon is a real estate development mogul who bought the Indiana Pacers from Sam Nassi and Frank Mariani in 1983. Aside from the Pacers, Simon is the big boss behind two other sports franchises: the WNBA’s Indiana Fever and the Reno 1868 FC. USL.
Like Jerry Reinsdorf in Chicago, Simon is another octogenarian real estate mogul who owns a basketball team.
Simon bought the Pacers for $10.5 million in 1983. Today, the Pacers are worth more than $1.6 billion.
Los Angeles Clippers
Owner: Steve Ballmer
Operating Entity: LAC Basketball Club, Inc
The LA Clippers are chaired by USAFacts founder, Ballmer Group co-founder and former Microsoft CEO Steve Ballmer.
Forbes recently named Steve Ballmer, owner of the Los Angeles Clippers, the richest owner in sports for the eighth year in a row. It’s worth noting he isn’t just the richest owner in sports. With a net worth estimated at $83 billion, he is also the eighth-richest person in the world.
Ballmer took over the Clippers for $2 billion. Currently the value is $2.63 billion.
Los Angeles Lakers
Owner: Jeanie Marie Buss
Operating Entity: The Los Angeles Lakers Inc
Jeanie Marie Buss is the president and controlling owner of the Los Angeles Lakers. She is the daughter of real estate investor Jerry Buss, who owned several sports businesses.
Following the death of her father in 2013 and several fights between her sons, Jeanie Buss ousted her siblings and took over as the primary owner of the Lakers. Since then, she has lured Lebron James to Los Angeles and won the 2020 NBA championship.
The Lakers have been in the Buss family since Jerry Buss bought the team for $67.5 million in 1979. The franchise is currently worth $5.9 billion.
Memphis Grizzlies
Owner: Robert J. Pera
Operating Entity: Memphis Basketball LLC
Robert J. Pera, founder of the global communications technology giant Ubiquiti Networks, Inc., also owns the Memphis Grizzlies.
Pera is not only the youngest owner in the NBA, he is one of the richest; the 44-year-old techie is worth about $10 billion, trailing only Ballmer and Gilbert.
At the tender age of 36, Para bought the Grizzlies in 2012 for $350 million. The franchise is currently worth $1.53 billion.
Miami Heat
Owner: Micky Arison
Operating Entity: Miami Heat Limited Parnership
Micky Arison is an Israeli-American businessman and billionaire. He is the president of Carnival Corporation, the world’s largest cruise operator. After inheriting Carnival Corporation from his father, Arison purchased the Miami Heat in 1995.
Micky Arison has led the Miami HEAT to unparalleled heights throughout his 27 years as the team’s managing general partner, including three NBA titles.
The franchise was purchased by Micky Arison for $33 million, and its current value is $2.49 billion.
Milwaukee Bucks
Owner: Mark Lasry
Operating Entity: Milwaukee Bucks, Inc
The three Milwaukee Bucks owners with the highest stakes are: Marc Lasry, Wes Edens and James Dinan. The fourth major investor is Mike Fascitelli, although Fascitelli has a minor stake.
Kohl, who is the previous owner, sold the Bucks in 2014 for $550 million after purchasing the team for $18 million in 1985.
The Bucks have recently started one of their greatest successful streaks in team history. Giannis Antetokounmpo guided the group to its first title in more than 50 years in 2021.
The franchise is currently worth more than $2 billion.
Minnesota Timberwolves
Owner: Glen Taylor (until 2023)
Operating Entity: Minnesota Timberwolves Basketball Limited Parthenrship
In the near future, the Timberwolves’ ownership will change.
The league’s most recent owners, Lore and A-Rod, sealed a deal for the Timberwolves this year. The two will gradually buy shares of the team from former owner Glen Taylor until they become majority owners in 2023.
Lore is an e-commerce mogul who sold Jet to Walmart for $3.3 million and later became the CEO of Walmart’s e-commerce division in 2016. Alex Rodriguez is one of the best former New York Yankees players.
The franchise is worth at $1.5 billion.
New Orleans Pelicans
Owner: Gayle Benson
Operating Entity: New Orleans Pelicans NBA Limited Parnership
Gayle Marie LaJaunie Bird Benson was the wife of former New Orleans Pelicans principal owner Tom Benson. After her husband’s death in 2018, she also became the principal owner of the New Orleans Saints (NFL).
Benson is the first woman to own majority voting stock in an NBA or NFL franchise.
Despite selecting Zion Williamson with the first overall choice in the 2019 NBA Draft, the Pelicans remain the league’s lowest valued club, valued at $1.51 billion.
New York Knicks
Owner: James Dolan
Operating Entity: The Madison Square Garden Company
James Dolan is CEO and CEO of The Madison Square Garden Company and CEO of MSG Networks. He directs all operations of these companies and also owns and manages the daily routine of the New York Knicks.
James Dolan has grown to be one of the most despised individuals in New York City ever since his father purchased the Knicks and appointed his beloved son as president of the team (as well as the New York Rangers and Madison Square Garden).
Despite not winning an NBA championship in almost 50 years, the team remains extremely lucrative. Playing in Madison Square Garden affords the team a bright spot in the business world in New York, which is the largest media market in the U.S.
Oklahoma City Thunder
Owner: Clay Bennet
Operating Entity: Professional Basketball Club
The Oklahoma City Thunder NBI franchise, formerly called the Seattle SuperSonics, is chaired by American businessman Clayton Bennett.
Bennett and his clique of OKC businessmen bought the then-Supersonics from Starbucks founder Howard Schultz for $350 million in 2006. The team moved to Oklahoma City for the 2008–2009 season and renamed itself the Thunder.
While the team has made 10 playoff appearances in the last 13 seasons, they still rank among the lowest valued franchises, estimated at $1.67 billion.
Orlando Magic
Owner: Dan DeVos
Operating Entity: RDV Sports Inc
Technically, Orlando Magic is not owned by one person but by a corporation. RDV Sports was founded in 1991 by Richard Devos Sr, who passed away in 2018.
Richard DeVos passed along the baton to his son, Dan. Dan DeVos is a businessman in his own right, and he’s most well known for his role as CEO of DP Fox.
The team has only made the playoffs twice in the past 10 years and was handed the gentleman’s sweep in both appearances. They have also never won an NBA title.
The franchise currently has a worth of $1.69 billion.
Philadelphia 76ers
Owner: Josh Harris
Operating Entity: Harris Blitzer Sports & Entertainment
The 76ers are just one asset in majority owner Josh Harris’ growing sports portfolio. In addition to owning the Sixers, the former co-founder of Apollo Global Management is also the principal owner of the New Jersey Devils in the NHL and a general partner of Crystal Palace in the English Premier League.
Harris bought the team for $280 million in 2011.
While the team hasn’t won a championship since 1983, under Josh and David Blitzer’s leadership the Sixers have recovered from their lengthy rebuild to become one of the most valuable franchises, reaching a value of $2.67 billion.
Phoenix Suns
Owner: Robert Sarver
Operating Entity: Suns Legacy Partners, LLC
Robert Sarver is currently the owner of the Phoenix Suns franchise. However, that will change soon.
Last month Sarver said he will sell the Suns and Phoenix Mercury of the WNBA, which he also owns. There are rumors that an interested ownership group could include former President Barack Obama and Charles Barkley.
Sarver bought the Suns in 2004 for $401 million and now the franchise is now worth almost $2 billion.
Portland Trail Blazers
Owner: Jody Allen
Operating Entity: Vulcan Inc
The Trail Blazers have been in the Allen family since 1988 when Paul Allen bought the team for $70 million. After passing away in 2018, the franchise passed into the hands of his sister Jody Allen, who is reportedly worth more than $20 billion.
With the Trail Blazers now valued at more than $2 billion, there is speculation that Jody Allen could look to sell the team.
Sacramento Kings
Owner: Vivek Ranadivé
Operating Entity: Sacramento Kings Partnership Group
Vivek Yeshwant Ranadivé is an Indian-American who co-owns and chairs the Sacramento Kings. He is the founder and former CEO of real-time computing firm TIBCO and Teknekron Software Systems.
He and his group agreed with the Maloofs to buy 65% of the Kings for around $348 million in 2013. They are currently worth $2.06 billion.
The team has continued its 16-year playoff drought under his watch.
San Antonio Spurs
Owner: Peter J. Holt
Operating Entity: Spurs Sports & Entertainment
The Holt family has been the majority owner of the Spurs since acquiring the team in 1996.
In 2019, Peter J. Holt succeeded his mother, Julianna Hawn Holt, as chairman of Spurs Sports & Entertainment. This entity owns the NBA franchise, along with other sports franchises such as San Antonio FC (USL) and San Antonio Rampage (AHL).
In 1993, billionaire businessman Peter Holt bought the Spurs for $76 million. It is currently valued at $2.05 billion.
Toronto Raptors
Owner: Larry Tanenbaum
Operating Entity: Maple Leaf Sports & Entertainment
Larry Tanenbaum is famous for being the president of Maple Leaf Sports and Entertainment, which owns several major league sports teams, including the Toronto Raptors.
The Raptors, like the Orlando Magic, do not have a single identifiable majority owner. Instead, they are owned by Maple Leaf Sports Entertainment.
The Raptors are worth a reported $2.74 billion making them the country’s most valued sports franchise. The team’s 2019 championship run definitely gave the team the edge in the rising value, seeing their value grow more than 400% since 2012 when the team’s estimated worth was $400 million.
Utah Jazz
Owner: Ryan Smith
Operating Entity: Jazz Basketball Investors, Inc.
The Gail family owned the franchise from 1980 until Ryan Smith bought majority ownership of the Utah Jazz, in October 2020. Ryan Smith is a software mogul and one of the richest Mormons in the world.
As part of the new wave of younger, socially conscious owners who have bought into the NBA in recent years, Smith agreed to buy the Jazz for $1.6 billion two years ago. Since then the franchise has appreciated and is now worth $1.78 billion.
Washington Wizards
Owner: Ted Leonsis
Operating Entity: Monumental Sports & Entertainment
American businessman, author, philanthropist, filmmaker, and former politician Ted Leonsis took over the Washington Wizards as majority owner in June 2010. As Founding Chairman and CEO of Monumental Sports & Entertainment. Leonsis also owns the NHL Capitals and the WNBA Mystics.
Leonsis bought his first major professional sports team in 1999 when he paid $85 million for the Capitals. He became the majority owner of the Wizards and Mystics in 2010 and combined all three teams under one ownership group at Monumental.
The franchise is currently worth $2.15 billion.
Krause House will be on this list
From this article, one obvious conclusion can be reached. No matter how they fared in court, all franchisees have increased their worth in the last 10 years.
Although the subject of this study were the primary ownership and operating companies, there are numerous other players in this market.
Franchise ownership is evolving in the NBA.
In a communication to league owners sent toward the end of 2019, NBA Commissioner Adam Silver proposed a new investment structure that would let private equity firms purchase minority ownership shares in NBA franchises.
And that’s where Krause House comes in.
We feel that the capacity to earn revenue and/or diversify the treasury is significantly enhanced if we are successful in acquiring a minority stake in the NBA.
Additionally, we have created a new capital structure that will let us match the several (and frequently conflicting) demands of our circumstance. We call this entity: KH Capital.
In Krause House we are changing how sports teams are governed and owned. We do not squander time while being aware of the difficulty of the trip.
The BIG3 league is the best illustration of future ownership. Blockchain technology and non-fungible tokens have made it possible for them to offer fans parts of ownership that other leagues either cannot or do not want to. BIG3 is the ideal use case because of the blockchain’s effectiveness, transparency, and speed.
Krause House owns the Ball Hogs. Bearing in mind that the NBA was created in 1946 and it wasn’t until the 70’s that it exploded, tt can be said that we are soon.
This story has only just begun…
Thanks to the blockchain, the decisions that are currently made by a select group of billionaires behind closed doors will suddenly be decided by the fans.
“We’re no longer just a game plan. It’s the first quarter, we’re playing well — we’ve got a lead. The second quarter game plan is to acquire an NBA minority position. This goal is within our reach, there is a path to accomplishing it. We need to stay focused & close out the first half with a big lead. Let’s give it everything we’ve got” — WAGBAT!
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Author Biography
I am KAF, consultant and freelance web3 writer who helps people get closer to NFTs, DAOs, Defi and the Metaverse. Hire me at kafcrypto@gmail.com
