Profitability of owning a professional sports team in the United States
Abstract
Eight years ago, during an interview with CNN Business one of the more infamous NBA team owners, Mark Cuban, claimed that owning a sports team was no longer a trophy asset. He said many of the new ownership groups are a consortium with multiple investors and they're seeking to make a strong financial return. It was no longer about wealthy businessmen and women wanting to own the local team but about firms and wealthy investors seeking to turn a profit. I want to explore the truth of this claim and see if these teams actually are strong sound investments that private equity firms or individual family offices should be pursuing.