The NBA is an acronym for National Basketball Association, according to Forbes an Average NBA team cost an average of $2.48 billion. These teams are usually acquired by billionaires and lovers of the game. Know more about NBA TEAM OWNERS
NBA team owners play a key role in the success of the team but we hardly know who these team owners are. Here is a compliation of the current NBA teams owners.
TONY RESSLER, ATLANTA HAWKS
Tony Ressler owns the majority of Atlanta hawks, which was collectively acquired by his group global Management Company bought in 2015 for the price of 850 dollars. Ressler is the chairman, founder, and CEO of Officer of Ares Management LP and global management company which operates several Atlanta businesses.
WYC GROUSBECK, BOSTON CELTICS
The Boston Celtics were acquired by the Entrepreneur and venture capitalist WYC Grousbeck, at the price of $360 million in 2022. The Harvard Alumnus is the CEO, Governor, and Managing Partner of the basketball team
JERRY REINSDORF, CHICAGO BULLS
Jerry Reinsdorf is a real estate mogul who made most of his money in the 1960s and ’70s. He first bought the Chicago baseball team White Sox in 1981 before purchasing the Chicago Bulls in 1985 for $16.5 million. It is believed that Reinsdorf’s acquisition and control of the basketball team increased the Chicago Bulls to its success today with six championships under its belt. The team is estimated to be worth $3.65 Billion which means Reinsdorf has gained from his investment in the team.
DAN GILBERT, CLEVELAND CAVALIERS
Dan Gilbert is the founder of the rock venture and co-founder of Quickest Loans now the Rocket Mortgage, He is estimated to possess a net worth of $15.1 billion and is one of the owners of the Cleveland Cavaliers alongside his brother Gary Gilbert, Artist Usher Raymond and San Jose Sharks Gordon Gunda. The Cleveland Cavaliers were bought for $250 million in 2005 and won their first title in 2016.
MICHAEL JORDAN, CHARLOTTE HORNET
The famous basketball player, Michael Jordan owns 97% share of Charlotte Hornet which was acquired at the price of $180 million in 2010 and was valued at $1.3 billion by Forbes,
MARK CURBAN, DALLAS MAVERIKS
Entrepreneur and Shark Tank investor Mark Cuban is also the co-founder of AXS TV and 29 entertainment purchasing the Dallas Maverick in 2000 for the price of $280 million. Mark is one of those investors who claim to invest for the love and passion of the game. He is estimated to be worth $4.7 billion and ranked 177 on the list of Forbes richest.
TOM GORES, DETRIOT PISTONS
Founder of Platinum Equity bought 2011 the Detroit Pistons for $385 million and by 2015 became the exclusive owner of the team.
JOE LACOB, PETER GUBER, GOLDEN STATE WARRIORS
Joe Lacob is an American executive, estimated to be worth $1.5 billion by Forbes in 2022. Lacob alongside Peter Guber CEO of Mandalay entertainment acquired the golden state warriors in 2010 for $450 million, this was the largest NBA purchase of its time. Jacob Lacob controls the daily operations of the team while Peter Guber is the CEO of the basketball team.
TILMAN FERITTA, HOUSTON ROCKETS
The American hospitality business entrepreneur acquired the Houston Rockets for $2.2 billion in 2017 and the team is valued to be worth $2.75 billion. Tilman’s net worth is estimated by Forbes to be $6.3 billion.
STEVE BALLMER, LOS ANGELES CLIPPERS
Former Microsoft CEO, Steve Ballmer bought the Clippers for $2 billion. The team is estimated to be valued at $3.3 billion. Ballmer is listed 10th richest man in the world and the richest NBA owner.
JEANIE MARIE BUSS, LOS ANGELES LAKERS
The Lakers were bought by Jerry Buss for $67.5 million in 1979 who helped dig the team out of its problem, After Jerry’s death, the NBA team was passed down to his daughter Jeanie Buss who took majority ownership of the team. In 2020 the Lakers won the championship.
ROBERT J. PERA, MEMPHIS GRIZZLES
Robert Pera is ranked the third richest NBA owner by Forbes. He is the founder of a global communications technology company, Ubiquiti Networks, Inc. Memphis Grizzlies was bought by the tech billionaire for $377 million in 2012.
MICKY ARISON, MIAMI HEAT
The Miami heat was bought by Micky Arison Israeli-American chairman of carnival Corporations and Businessman Billionaire, Under Arison’s control, the Miami kbHeat basketball team has won three championships, with famous basketball players like Shaquel O’Neill, Dwayne Wade, and Lebron James. Miami heat is estimated to have a value worth of 1.75 billion but was acquired for $188 million in 1988.
GAYLE MARIE LAJAUNIE BIRD BENSON, NEW ORLEANS PELICANS
After the death of her husband in 2018, Gayle became the majority shareholder of the Pelicans.
JAMES DOLAN, NEW YORK KNICKS
James Dolan, son of billionaire businessman Charles Dolan the founder of HBO and Cablevision. The Dolan family controls and executive chairs Madison Square Garden Sports, Madison Square Entertainment, and MSG networks. James Dolan inherited executive chairmanship and ownership of the New York Knicks along with its other family operations. The New York Knicks were acquired for $600 million in 2005 and in 2020, the New York Knicks were estimated to be worth $6.4 billion.
PETER HOLT, SAN ANTONIO SPURS
Businessman Peter Holt acquired the NBA team in 1993 for $76 million, and it was passed down to his son in 2015, who now runs the team.
THE BOTTOM LINE
Owning an NBA is a valuable asset for investors, as these teams continuously rake up money. However owning an NBA team is a dream for the richest people in the world, as it is an extremely exclusive club for just the 1%.
