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US: The Richest Sports Team Owners!

By Prof Dr Ian Blackshaw

The Forbes 2021 400 Rich List, as of 3 September 2021, has just been published and, for the first time in 25 years, former US President Donald Trump does not appear on it, having missed out by US$400 million!

However, the combined fortunes of 44 of the 400 members of the Forbes Rich List own controlling stakes in major sports teams amount to a staggering US$392.4 billion, which represents an increase of 42% over the past year!

Heading the List of sports team owners is Steve Balmer, a former Microsoft Executive, who owns the Los Angeles Clippers, which he bought in 2014 for US$2 billion and is now worth US$2.75 billion. Balmer ranks 10th on the List with a fortune of US$96.5 billion.

In second place on the List is Dan Gilbert, who owns the Cleveland Cavaliers, with a fortune of US$30.9 billion

Then comes Robert Pera, founder and CEO of Ubiquiti Networks, who owns the NBA Memphis Grizzlies, which he bought in 2012 for US$377 million and is now worth US$1.3 billion. Pera has a fortune of US$19 billion.

Completing the top 5 sports team owners on the List are Steve Cohen, who owns the New York Mets, and David Tepper, who owns the Carolina Panthers. They have fortunes of US$16 billion and US$15.8 billion respectively.

For the complete list of US sports team owners on the Forbes 2021 400 Rich List, log onto:

https://www.forbes.com/sites/sergeiklebnikov/2021/10/05/richest-sports-team-owners-2021-forbes-400/?sh=7be5e1b262a1’.

It appears that owning sports teams in the US proves to be good investments!

Prof Dr Ian Blackshaw may be contacted by e-mail at ‘This email address is being protected from spambots. You need JavaScript enabled to view it.

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Sports Law & Taxation features: articles; comparative surveys; commentaries on topical sports legal and tax issues and documentation.

The unique feature of Sports Law & Taxation is that this Journal combines  up-to-date valuable and must-have information on the legal and tax aspects of sport and their interrelationships.

Global Sports Law and Taxation Reports feature: articles; comparative surveys; commentaries on topical sports legal and tax issues and documentation.

The unique feature of Global Sports Law and Taxation Reports is that this Journal combines for the first time up to-date valuable and must-have information on the legal and tax aspects of sport and their interrelationships.

The Editors

The editors of  the Journal Sports Law & Taxation are Professor Ian Blackshaw and Dr Rijkele Betten, with specialist contributions from the world's leading practitioners and academics in the sports law and taxation fields.

The Editors

Managing editor
Dr. Rijkele Betten

Consulting editor
Prof. Dr. Ian S. Blackshaw

Editorial board

Prof. Guglielmo Maisto
Maisto e Associati, Milano

Dr. Dick Molenaar
All Arts Tax Advisors, Rotterdam

 

Mr. Kevin Offer
Hardwick & Morris LLP, London

Mr. Mario Tenore
Pirola Pennuto Zei & Associati, Milano

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