Forbes 400: Profiling the Richest Owners in Sports
Today, Forbes Magazine released the 2010 edition of the "Forbes 400", an annual list of the richest people in America.
This year's list is littered with billionaire sports franchise owners. Though no one directly involved in ownership made the top 10 this time around, there are still 13 individuals overall who made their presence known thanks to their assets, money and otherwise.
As expected, this group is dominated by NFL luminaries like Jerry Jones, Robert Kraft, and Malcolm Glazer.
However, there are a number of obscenely wealthy people on this list who own non-football franchises as well (Stan Kroenke, Mark Cuban, Arte Moreno).
But the question remains, who brought home the bacon this year, and how much of it is left in the fridge?
17. Paul Allen, Seattle Seahawks, $12.7 Billion
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Easily claiming the top spot for riches among sports owners is Paul Allen. The Seattle tycoon currently owns three professional sports teams in the the Pacific Northwest–the NFL's Seattle Seahawks, the NBA's Portland Trailblazers, and the MLS' Seattle Sounders.
Of course, Allen's fortune doesn't come from his exploits in the sporting world. His money comes largely from Microsoft, the technology multinational he founded with computer entrepreneur Bill Gates.
Which makes sense, considering the Seahawks, his most valuable athletics asset, has struggled to stay afloat in Seattle, with poor fan support in the city already contributing to the departure of the NBA's SuperSonics to Oklahoma City.
With former USC coach Pete Carroll now at the helm for the 'Hawks, Allen is hoping the competitiveness of his franchise can match up more closely with his own personal value.
69. Mickey Arison, Miami Heat, $4.1 Billion
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Most people would likely expect the second-richest man in the sporting world to be involved in the NFL.
However, when you own the Carnival Cruise Line like Mickey Arison does, it doesn't really matter what franchise your sport plays.
Of course, it certainly helps that part of Arison's fortune is tied up in the Miami Heat, which has dominated the sports headlines this summer and will undoubtedly be one of the NBA's biggest draws this season, thanks to the additions of LeBron James and Chris Bosh.
Assuming the Heat bring home championships with Miami Thrice in town, Arison should find himself cruising up the Forbes rankings in the years to come.
101. Stephen Ross, Miami Dolphins, $3.1 Billion
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Like many people on Forbes' list this year, Stephen Ross made his millions and billions in real estate.
Unlike most, that real estate fortune includes a football team–the Miami Dolphins.
Ross first bought into his hometown team in 2008, snatching up a 50 percent stake along with some property in the Miami area from the magnanimous Wayne Huizenga.
Less than a year later, Ross shuffled over another billion to Huizenga to take over 95 percent of the team and the stadium. Since then, Ross has installed NFL legend Bill Parcells as director of football operations and resuscitated the Dolphins franchise back into playoff relevancy.
Now that he has brought in local celebrities like Gloria Estefan and Marc Anthony to Miami's ownership group, Ross is reportedly planning to open up a theme park across from Sun Life Stadium, where the Dolphins play.
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130. Stan Kroenke, St. Louis Rams, $2.7 Billion
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Lately, Stan Kroenke has found his name in the news for the wrong reasons.
As owner of the Denver Nuggets, he's been at the forefront of the recent rumblings regarding franchise star Carmelo Anthony, who is trying to force his way out of town, presumably to the New York Knicks.
Of course, it hasn't been all bad for the CEO of Kroenke Sports Enterprises.
Sure, he's had to cede ownership of the Nuggets and the NHL's Colorado Avalanche to his son by the end of the year.
But he certainly has good reason–he's taking over majority ownership of the St. Louis Rams.
Add this new chip to his current collection of assets, including Dick's Sporting Goods and Arsenal of the English Premier League, and it's almost a wonder that Kroenke isn't higher up on Forbes' list.
136. Malcolm Glazer, Tampa Bay Buccaneers, $2.6 Billion
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In the States, Malcolm Glazer is known as the owner of the Buccaneers and as the man who brought the team from Tampa Bay out of the gutter and into the realm of champions in 2002.
Everywhere else, he's reviled as the man who destroyed Manchester United.
Between 2003 and 2005, the Glazer family set about acquiring one of the iconic franchises in all of soccer, a move that drew the ire and inflamed the hatred of Man U fans everywhere.
What was once a gem of a team owned by the public became the property of an American tycoon deep in debt.
And while the Glazers may be offended and hurt by the hateful chants of soccer fans all over the planet, they're probably still content with the billions they have.
144. Mark Cuban, Dallas Mavericks, $2.5 Billion
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Mark Cuban's rise through the ranks of the wealthy and powerful has been nothing short of meteoric.
Cuban made his mark as a technology entrepreneur, making his hay with the sale of Broadcast.com to Yahoo! for a whopping $5.9 billion in 1999 after starting the company with one of his college buddies the previous year.
Being a savvy businessman, Cuban decided to diversify his holdings, investing in a number of significant ventures, most notably the Dallas Mavericks. Cuban acquired the Mavs from H. Ross Perot Jr., the son of the Texas billionaire of the same name, for $285 million.
Since then, Cuban has become an outspoken, often controversial, owner, incurring the wrath of NBA commissioner David Stern on multiple occasions.
Aside from his negative exploits and his cameos on Entourage, Cuban has transformed the once-moribund Mavericks into a perennial playoff team while pursuing other ownership opportunities, not the least of which is his latest attempt to take on the Texas Rangers.
164. Glen Taylor, Minnesota Timberwolves, $2.2 Billion
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The majority of Glen Taylor's notoriety originates from his time as a Senator in Minnesota, so it certainly makes sense that he owns his home-state Timberwolves.
Of course, it doesn't make sense financially, considering the T-Wolves are one of the worst franchises in the NBA and, as such, struggle to fill the seats in the Target Center every year.
The prospects aren't exactly looking any better with David Kahn at the helm in Minneapolis, but Taylor's fortune should be safe with the appropriately-named Taylor Corporation.
182. Jerry Jones, Dallas Cowboys, $2 Billion
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With Michael Jordan now in control of the Charlotte Bobcats, Jerry Jones can no longer be referred to as the most athletically accomplished owner in American professional sports.
Nonetheless, Jones' exploits on the football field are still worth noting. He was a co-captain of the 1964 National Champion Arkansas Razorbacks, playing alongside the likes of Jimmy Johnson, Ken Hatfield, Jim Lindsey, and Loyd Phillips, under the guidance of legendary coach Frank Broyles.
Unlike Jordan, Jones' money is anything but the result of the sport he played. Jones buttered his bread as a businessman, finally striking (black) gold with Jones Oil and Land Lease, a rather successful natural resource exploration business based in Arkansas.
Nowadays, Jones stalks the sidelines at the new Cowboys Stadium, with the hope that Tony Romo and company will bring him his fourth Super Bowl ring while playing at home in Dallas in February.
238. Mike Ilitch, Detroit Tigers/Red Wings, $1.7 Billion
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As a first-generation immigrant, Mike Ilitch's path to super-wealth is the stuff of American dreams.
After spending four years in the U.S. Marine Corps, Ilitch played in the Detroit Tigers' farm system, but was forced to retire due to injury before he could ever make the big club.
Somehow, Ilitch parlayed his passion for sports into Little Caesar's, a pizza chain that he started with the help of his wife and from which his family's fortune originated.
Ilitch's career as a pro sports owner began in 1977 with the founding of the Detroit Caesars, a team in APSPL (American Professional Slow Pitch Softball League).
Five years later, Ilitch and his family made their first foray into major pro sports, acquiring the NHL's Detroit Red Wings. Since taking over the "Dead Wings", Ilitch has guided Detroit to 19 consecutive playoff appearances and four Stanley Cup championships.
Since then, Ilitch has taken over the Detroit Tigers and has been outspoken about his desire to buy the Detroit Pistons to keep the team from leaving Michigan.
252. Michael Heisley, Memphis Grizzlies, $1.6 Billion
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Michael Heisley has done little to endear himself to the world of sports since becoming an owner.
Heisley purchased the Vancouver Grizzlies in 2000 and promised to keep the team in Canada, but quickly reneged on his word when he moved the franchise to Memphis in 2001.
The Grizzlies have struggled to maintain relevance in the NBA since Heisley's takeover, having just now begun recovering from trading away franchise star Pau Gasol to the Los Angeles Lakers for a bag of peanuts (a.k.a. Kwame Brown).
269. Robert Kraft, New England Patriots, $1.5 Billion
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Since taking over the New England Patriots in 1994, Robert Kraft has established himself as one of the best owners in American pro sports.
Aside from founding the New England Revolution of the MLS, Kraft is largely responsible for the development of Gillette Stadium in Foxboro, Mass.
More importantly for Pats fans, Kraft deserves credit for bringing three Super Bowl titles to the fans of the Northeast while producing more playoff appearances in 16 years (11) than the franchise had in its previous 33 seasons (6).
288. Drayton McLane, Houston Astros, $1.45 Billion
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Like Mike Ilitch, Drayton McLane made the Forbes list by turning food into fortune.
McLane spent nearly 30 years as the president and CEO of the McLane Company, a wholesale food distribution company started by his grandfather.
During his tenure, McLane swapped a majority stake in his company to Sam Walton, his tennis partner, for cash and shares in Wal-Mart.
McLane then used a significant portion of that capital to acquire the Houston Astros in 1993. Since McLane took over, the Astros have enjoyed the fifth-highest winning percentage in the Majors and have left the famous Astrodome for greener pastures at Minute Maid Park.
290. Robert McNair, Houston Texans, $1.4 Billion
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Drayton McLane certainly isn't the only billionaire from Texas.
Bob McNair made his mark through energy and biotechnology enterprises, including the sale of one of his companies, Cogen Technologies, to Enron in 1999.
McNair parlayed his power into NFL prominence, bringing a football franchise back to Houston in 2002. The Texans struggled through their infancy, but are expected to contend for a spot in the playoffs this season.
290. Jim Irsay, Indianapolis Colts, $1.4 Billion
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Jim Irsay is the wealthiest of those on Forbes' list whose sports franchise ownership came as an inheritance.
Irsay's father Robert is the man who infamously purchased the Baltimore Colts in 1971 and later moved the team to Indianapolis in 1984.
Aside from sporting a reputation as a gregarious rock music fan, Irsay has overseen the Colts in the Peyton Manning era, during which the team has become a perennial Super Bowl contender and is now one of the NFL's marquee franchises.
308. Stephen Bisciotti, Baltimore Ravens, $1.3 Billion
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Interestingly enough, the next richest current sports franchise owner after Jim Irsay on the Forbes 400 list is the man who now runs football in Baltimore.
As a kid from a working-class family in Baltimore, Bisciotti grew up a huge sports fan, following the Colts and the Orioles and going to games with his family on occasion.
After graduating from Salisbury University in Maryland, Bisciotti joined up with his cousin Jim Davis and started Aerotek, a staffing firm for aerospace and other technology companies.
Aerotek later became the Allegis Group, which is now the largest privately owned staffing firm in the country and is the big reason Bisciotti was able to buy the Baltimore Ravens from the much-reviled Art Modell.
Bisciotti now stands as the third-youngest owner in the NFL, behind the Redskins' Dan Snyder and the Browns' Randy Lerner.
332. Arthur Blank, Atlanta Falcons, $1.2 Billion
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For better or worse, Arthur Blank has spent his life fixing things.
The Sunnyside, N.Y., native made his mark as the co-founder of The Home Depot, which revolutionized the home improvement industry.
In 2002, he used his fortune to purchase the Atlanta Falcons, the image of which he later had to repair following the Michael Vick dog-fighting scandal.
Blank's ownership ambitions extend beyond the NFL. He currently owns the Georgia Force of the Arena Football League, has attempted to purchase the Atlanta Braves in the past, and is currently pushing to bring an MLS franchise to Atlanta.
365. Daniel Snyder, Washington Redskins, $1.1 Billion
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Redskins owner Dan Snyder is notorious in American professional sports for his hands-on approach to ownership, but he perhaps should be lauded even more for his early business exploits.
After dropping out of the University of Maryland at the age of 20, Snyder went about attempting a variety of business ventures before finally finding true success with Snyder Communications, a marketing company he founded with his sister Michelle and thanks to which he became the youngest-ever CEO of a company listed on the New York Stock Exchange at the tender age of 32.
Snyder's aggressive business style came to the fore when he purchased the Washington Redskins following the death of legendary owner Jack Kent Cooke for a whopping $800 million–the most expensive purchase in the history of sports.
Since then, Snyder has mostly failed to make the 'Skins winners off the field while simultaneously making his franchise the NFL's most valuable.
365. Alexander Spanos, San Diego Chargers, $1.1 Billion
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Alex Spanos can be counted among the several American billionaires who turned real estate money into sports franchise ownership.
Spanos first bought a majority stake in the San Diego Chargers in 1984 and has since increased his share of the team to 97 percent.
The billionaire of Greek descent has long since removed himself from the Chargers' day-to-day operations, ceding management of the team to his son Dean in 1994.
382. Tom Benson, New Orleans Saints, $1.05 Billion
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Tom Benson certainly has a lot to be thankful for these days. After all, his Saints are Super Bowl champions for the first time in franchise history.
Such wouldn’t have been possible for Benson, a New Orleans native, without the money he made from his car dealerships in New Orleans and San Antonio, It was these ventures that gave Benson the flexibility to invest in local banks–a move that paid off big enough for Benson to buy his own NFL team.
Of course, Benson’s ownership has been far from entirely rosy. There has been plenty of tension between the city, the fans, and the owner over the years, with Benson threatening several times to move the team if the city couldn’t support his demands for a better stadium.
The Saints’ temporary move to the Alamodome in San Antonio had many in New Orleans worried, as Benson’s ties to east Texas had people speculating he might seek a permanent move for the team.
Despite those trials and tribulations, Benson has still made himself a very, very rich man with a team everyone can root for.
385. Lorenzo Fertitta, UFC, $1 Billion
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Lorenzo Fertitta owns not only the Ultimate Fighting Championship, but also the distinction of being the only sports billionaire on Forbes' list who isn't involved in a team sports franchise.
Fertitta's initial fortune comes from his involvement in the casino business in Las Vegas with his brother Frank via Station Casinos.
In 2001, Fertitta was contacted by longtime friend and UFC founder Dana White about purchasing the upstart league, soon after which Fertitta forked over the money for it.
Nowadays, UFC is one of the most popular and fastest growing sports enterprises in the country, with Fertitta having absorbed World Extreme Cage Fighting and Pride Fighting Championships into his mixed martial arts empire.
385. Jeffrey Lurie, Philadelphia Eagles, $1 Billion
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Perhaps more so than anyone else, Jeffrey Lurie owes his place on the Forbes 400 to the team he owns.
To be sure, Lurie was a wealthy man before he ever bought the Philadelphia Eagles, building his fortune in Hollywood as a producer. How else would he have been able to purchase the Eagles for $195 million like he did?
Lurie’s investment has paid off quite handsomely for the native Bostonian. Nowadays, the Eagles stands as the seventh-most valuable NFL franchise, with Forbes estimating the team to be worth upwards of $1.1 billion.
Hence, it’s no wonder Lurie finds himself among the richest men in sports.
385. William Ford Sr., Detroit Lions, $1 Billion
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It should come as no surprise to find a Ford on the Forbes 400 list. After all, he is a direct of Henry Ford, the man responsible for the transformation of automobile production.
What perhaps is surprising is that the Fords didn’t own their hometown team, the Detroit Lions, until 1964, when William Clay Ford Sr. bought the team from Dick Richards for $4.5 million.
Fast forward to the present, and the Lions franchise is worth upwards of $800 million. While such places Detroit among the least valuable teams in the NFL, it still represents a hefty appreciation on what was clearly a sound investment by the car magnate.
385. Arturo Moreno, Los Angeles Angels of Anaheim, $1 Billion
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Arturo Moreno has made a hefty living off of image control. “Arte”, as most refer to him, derived his initial fortune from his work in the advertising industry. Moreno got his start at Outdoor Systems, a billboard company based in Phoenix, Ariz.
While there, Moreno became the president and CEO of the company and remained in that position until 1998, when he sold Outdoor Systems to Infinity Broadcasting for a tidy $8 billion.
As the first Hispanic to own a major American sports franchise, Moreno changed the face of the nation’s sports business landscape forever.
Moreno didn’t wait to tweak the image of the Angels when he bought the team from the Walt Disney Company in 2003.
He incited some controversy when he decided to change the name of the team to the Los Angeles Angels of Anaheim, as a means of connecting the Orange County baseball club to the Los Angeles market.
The Angels franchise has enjoyed fairly steady success under Moreno’s guidance, regularly contending for playoff spots out of the AL West.
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