Richest owners of MLB teams in the U.S. in 2024
Major League Baseball (MLB) teams are owned by a variety of individuals and groups. The Toronto Blue Jays are owned by Rogers Communications, led by CEO Edward S. Rogers III, with a net worth of 11.5 billion U.S. dollars. Individual owners of MLB franchises include wealthy individuals such as Mark Attanasio (Milwaukee Brewers), John Henry (Boston Red Sox), and Arte Moreno (Los Angeles Angels), who also have other business interests outside of sports ownership. There are also multiple ownership groups that own MLB franchises, made up of a mix of businesspeople, investors, and wealthy individuals who come together specifically to purchase and operate the teams. In rare occurrences, franchises have also been owned by the league, such as the Montreal Expos and the Texas Rangers in the past. The ownership process often includes the approval of the other MLB owners and requires significant financial resources.
Steven A. Cohen
Steven A. Cohen's purchase of the New York Mets for 2.4 billion U.S. dollars in 2020 constituted a significant event in the sport. The purchase made him the wealthiest franchise owner in the league, with a personal wealth of around 16 billion U.S. dollars. Cohen stated that he planned to invest in the team to help bring it success on the field, as well as in its business operations. One of his main goals with the purchase was to renovate Citi Field, the team's stadium, and to invest in the team's player development facilities. He also announced plans to enhance the fan experience through technology and fan engagement, aiming to bring the team closer to its fan base.
Billionaire sports club ownership
The growing trend of wealthy individuals buying sports teams can have both positive and negative impacts. On one hand, wealthy owners bring significant financial resources to teams, which can improve the team's performance and overall competitiveness. However, there are also concerns such as concentration of wealth and power among a small number of teams and owners, a less competitive league, and owners prioritizing financial returns over competitive balance. Additionally, the high price of ownership can make it difficult for new ownership groups to enter the market and lead to lack of diversity among ownership group of sports teams. This can also lead to high-priced tickets and merchandise, making it harder for low-income fans to support their team.
