Top 10 most expensive professional sports team sales in history
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Professional sports is characterised by remarkable transactions and intense competition, with the most notable being the billion-dollar club acquisitions. Apart from the enormous economic worth of the sports sector, these deals also often arouse the enthusiasm of many fans.
This article chronicles the circumstances and relevance behind the ten most expensive professional sports club acquisitions in history.
1. Boston Celtics (NBA, USA); $6.1B
The most expensive sports team sale in history, the acquisition of the Boston Celtics (NBA, USA), is expected to be finalised in 2025. Bill Chizem bought this historic basketball superpower from Groesbeck at an incredible price of $6.1 billion.
It is worthy of note that Groesbeck paid just $360 million for the Celtics in 2002, meaning the investment has yielded an impressive return of 17 times in just over two decades. The deal will be consummated at the end of the 24/25 campaign.
2. Washington Commanders (NFL, USA); $6.05B
Closely in pursuit are the Washington Commanders (NFL, USA). A group, headed by Josh Harris, one of the NFL's richest owners, bought the football team from Dan Snyder for $6.05 billion in '23, making this the most expensive sale in NFL history.
Despite the difficulties and challenges it ran into under Dan Snyder's direction, the team's position in the capital market is still quite strong. Snyder bought the team for $800 million in 1999; thus, the deal returns a profit of up to 650%, which is proof of the popularity and value held by NFL teams.
3. Denver Broncos (NFL, USA); $4.65B
The third most expensive professional sports team acquisition is the purchase of the Denver Broncos (NFL, USA) by the Walton-Penner family—who run Wal-Mart—from the Pat Bowlen Trust for $4.65 billion.
As well as setting a new record for NFL team acquisitions, this deal exceeded the previous mark by about $1 billion.
The high valuation of the Broncos is mostly thanks to their longstanding reputation as a powerhouse in the NFL, their strong supporter base and continuous success.
4. Chelsea F.C. (Premier League, England); $4.25B
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Chelsea Football Club of the English Premier League was purchased from Roman Abramovich by a group led by Todd Boehly for $4.25 billion, comprising a purchase price of £2.5 billion and further investment commitments of £1.75 billion.
Abramovich was obligated to sell the London giants due to sanctions following Russia's "military operation" in Ukraine, making it the most expensive sale of a professional sports team outside of American sports.
The deal, which is also the costliest in the history of football club acquisitions, proved the enormous global influence and commercial value of the Premier League, especially in light of the hasty nature and controversial circumstances surrounding the sale.
5. Phoenix Suns & Mercury (NBA/WNBA, USA); $4B
The fifth most expensive professional sports club acquisition in history is the sale of the Phoenix Suns and the Phoenix Mercury (NBA/WNBA, USA). Matt Ishbia purchased the two basketball teams—men and women—for $4 billion from Robert Sarver in '23.
A slew of scandals had earlier brought Sarver under heavy scrutiny, eventually leading to his decision to sell the team.
6. Charlotte Hornets (NBA, USA); $3B
The sixth-highest sales price for a major sports team is the $3 billion fee Michael Jordan received for the sale of the Charlotte Hornets (NBA, USA) to Rick Schnall and Gabe Plotkin in '23.
Jordan paid just $275 million for the franchise in 2010, and this massive return on investment confirmed his ranking as the wealthiest NBA player of all time.
With Michael Jordan as principal shareholder, the Hornets' performances were lukewarm, but their brand value and influence stayed significant, which helped facilitate the profitable sale.
7. New York Mets (MLB, USA); $2.4B
Steve Cohen set a new record for the acquisition of a Major League Baseball (MLB) team in '20 when he paid $2.4 billion to purchase the New York Mets (MLB, USA) from Fred Wilpon.
New York, one of the largest cities in the United States, boasts great commercialisation potential in the sports industry, which Cohen, an investor with immense riches, capitalised on.
8. Brooklyn Nets (NBA, USA); $2.35B
Jonathan Tsai completed a takeover of the Brooklyn Nets (NBA, USA) from Mikhail Prokhorov in 2019 for $2.35 billion, the eighth-highest transaction price for a professional sports team in history.
Jonathan Tsai had only acquired a 49% share in the Brooklyn Nets two years before, in 2017, before going all in for the NBA franchise. The $3.3 billion value of the Barclays Centre, their main basketball facility, indirectly influenced the Nets’ appeal.
9. Carolina Panthers (NFL, USA); $2.275B
In 2018, David Tepper purchased the Carolina Panthers (NFL, USA) from Jerry Richardson for $2.275 billion, making it the eighth most expensive professional sports team sale in history.
This agreement at the time set the record for the most costly NFL acquisition ever, despite the sale being instigated by damaging accusations against Richardson.
10. Houston Rockets (NBA, USA); $2.2B
Tilman Fertitta bought the Houston Rockets (NBA, USA) from Leslie Alexander in 2017 for $2.2 billion, a record for NBA franchise acquisitions at the time. This deal led to a noticeable rise in the value of NBA teams.
The Rockets' strong fan base, significant market potential, and their location in Houston, the fourth largest city in the United States, contributed to the high sale price.