The world of sports is thriving, and athletes are reaping the rewards! Many athletes are using their hard-earned money to invest in other teams and leagues. This trend is becoming increasingly popular, with star athletes becoming minority owners in various sports organizations.
One of the latest examples is Cleveland Browns defensive end Myles Garrett, who recently purchased a stake in the NBA’s Cleveland Cavaliers.
Who are these Athletic Owners?
Let’s look at some of the biggest names in sports who have become team owners:
From the Gridiron
The reigning NFL MVP and Super Bowl MVP, Patrick Mahomes, has a diversified portfolio of sports investments. He has taken ownership roles in the MLB, MLS, and NWSL teams in Kansas City, and recently joined the Alpine F1 Team as an investor alongside Travis Kelce, Rory McIlroy, and Ryan Reynolds.
Another notable NFL player turned owner is Tom Brady. The recently-retired quarterback has quickly built an impressive portfolio. He became a minority owner of the Las Vegas Aces, the WNBA champions, and also holds a stake in Birmingham City FC, a club in the English Championship. Brady is also on the verge of becoming a minority owner of the Las Vegas Raiders, pending NFL approval.
J.J. Watt, who retired from the NFL in 2023, is now a minority owner of Burnley FC in England. The club recently earned promotion to the prestigious Premier League for the 2023-24 season.
NBA Stars
LeBron James is already a successful businessman, setting himself up for a fulfilling post-playing career. In 2021, James joined Fenway Sports Group as a partner, making him a part-owner of various sports teams, including those in baseball, hockey, soccer, and stock car racing.
Kevin Durant is a big fan of soccer and has made his mark in the US soccer scene. He purchased a 5% stake in the Philadelphia Union in 2020, and then joined Gotham FC, another NWSL club, as an investor in 2022.
Dwyane Wade joined the ownership group of the Utah Jazz in 2021 alongside new team owner Ryan Smith. The Hall of Famer has been a regular at Jazz games since his investment.
Other Notable Owners
Michael Jordan, a legend in basketball, became a minority owner of the Charlotte Hornets (then Bobcats) in 2006. He later became the majority owner in 2010 before selling his majority stake in 2023. However, he still retains a minority share. Jordan also ventured into NASCAR as a team owner in 2021.
Magic Johnson is a prominent figure in sports in Los Angeles. He co-owns the MLB’s Dodgers, WNBA’s Sparks, and MLS’s LAFC. In 2023, Johnson invested $240 million in a group led by Josh Harris to purchase the Washington Commanders.
Serena Williams has owned a minority stake in the Miami Dolphins with her sister Venus since 2009. She also joined a group of investors in a new NWSL team, Angel City FC, in 2020. Other athletes involved with Angel City FC include Candace Parker, Mia Hamm, Abby Wambach, Julie Foudy, and Billie Jean King.
David Beckham, a retired English soccer star, has been instrumental in growing the sport in America since signing with the LA Galaxy in 2007. He founded Inter Miami CF with Jorge and Jose Mas in 2018, and made headlines by signing Lionel Messi in 2023.
The Seattle Kraken, the newest NHL franchise, boasts two iconic Seattle minority owners: Marshawn Lynch, a former Seattle Seahawks running back, and musician Macklemore.
Naomi Osaka, a four-time Grand Slam singles champion, joined the North Carolina Courage’s ownership group in the NWSL in 2021.
The Future of Athlete Ownership
Athletes are making a major impact on the sports industry by becoming owners. This trend highlights the changing dynamics of sports ownership and showcases the growing influence of athletes in the business world. It’s exciting to see athletes invest in their passions and contribute to the growth and development of their favorite sports.
