The Phoenix Suns will become the latest professional sports team to get sold, going for a reported valuation of $4 billion to United Wholesale Mortgage CEO Mat Ishbia.
The sales price of professional franchises continues to skyrocket. Here is a look at the 10-most expensive sports team sales in history, all of which have gone for north of $1 billion.
1. Denver Broncos
Price: $4.65 billion
Year: 2022
The Broncos were purchased by Wal-Mart heir Rob Walton in June of 2022 for this record-breaking sum. While every professional sports team is valuable, the NFL is king, and it was apparent with this price.
2. Phoenix Suns/Phoenix Mercury
Price: $4 billion
Year: 2022
The largest sale in NBA history was agreed to this week, as United Wholesale Mortgage CEO Mat Ishbia bought the Suns and Mercury from Robert Sarver at a reported valuation of $4 billion.
Phoenix Suns and Mercury are set for a record $4bn sale 🤯
Mortgage executive Mat Ishbia is closing in on a deal for the NBA and WNBA franchises.
— BBC Sport (@BBCSport) December 21, 2022
3. Chelsea Football Club
Price: $3.02 billion
Year: 2022
Los Angeles Dodgers part-owner Todd Boehly was part of a consortium that bought the London club for a then-record sum. Russian oligarch Roman Abramovich was sanctioned and forced to sell the team by the British government for enabling Vladimir Putin’s invasion of Ukraine.
4. New York Mets
Price: $2.4 billion
Year: 2020
Hedge fund manager Steve Cohen spent the most money in history to buy a Major League Baseball team, acquiring it from the Wilpon family. Cohen hasn’t stopped spending, as the Mets’ payroll has shot through the roof with Cohen in charge.
5. Brooklyn Nets
Price: $2.35 billion
Year: 2019
Billionaire Joseph Tsai, who co-founded the retail giant Alibaba, bought the Nets in two parts, acquiring 49% of the team in 2017 for $1 billion and the other 51% for 1.35 billion in 2019. The purchase price was a record at the time.
6. Carolina Panthers
Price: $2.28 billion
Year: 2018
Hedge fund manager David Tepper bought the Panthers from Jerry Richardson. It was an NFL-record at the time but figures to be a relative bargain moving forward.
7. Houston Rockets
Price: $2.2 billion
Year: 2017
Restaurateur Tilman Fertitta paid an NBA record for the Rockets in 2017, buying the team from Leslie Alexander. The sale of the Nets, and now the Suns, eventually topped it.
8. Los Angeles Dodgers
Price: $2.15 billion
Year: 2012
The Dodgers held the record for the most expensive team sale for quite a few years, and it’s not a surprise considering the market. Magic Johnson and several partners surpassed the $2 billion threshold to buy the team.
Magic Johnson has now won a championship as a member of four different pro teams — the Lakers, Dodgers, Sparks, and LAFC. pic.twitter.com/asGw0gFphF
— Front Office Sports (@FOS) November 7, 2022
9. Los Angeles Clippers
Price: $2 billion
Year: 2014
When Donald Sterling got booted by the NBA, Microsoft CEO Steve Ballmer stepped in to buy the Clippers. It was a head-turning sum at the time but has since been surpassed many times.
10. Manchester United
Price: $1.4 billion
Year: 2005
Business tycoon Malcolm Glazer bought the prestigious English Premier League club nearly two decades ago. His sons, Avram and Joel Glazer, are now considering selling the team. If it happens, there is little doubt Manchester United would go for the highest price in history.
