The sports universe has seen the transaction worth huge amounts of money during any player transfer. Starting from Football to the Baseball, the players generate an enormous amount of media attention, along with a beneficial remuneration for the clubs. The teams, on the other hand, are not at all comparable to the players who get transferred in millions, as the teams come at a purchase price worth billions. Many billionaires throughout the world have now devoted their handsome career income to various sports clubs as they are also hugely profitable as the general MNCs are. Sit back and enjoy the list of Expensive Purchases of Sports Clubs.
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The recent owner transfer of Buffalo Bills just a couple of days ago before we finalized this list on 21st September 2014, proved that the sports field is a birthplace of vast amounts of cash and a very big market for the big fishes. The transfers have also made the Bills secure their places in top five of the most expensive team purchases. Starting from the 1990’s, many big teams have their new owners who bought them while touching the billion dollar line. So here is the list of 10 Most Expensive Purchases of Sports Clubs.
10 Most Expensive Purchases of Sports Clubs
Professional American football team from Texas, Houston Texans, participates in NFL as a member of the American Football Conference’s South Division. The team was established in 2002 as an expansion team after the city’s previous club, the Houston Oilers, relocated to Nashville and became the Tennessee Titans. The current home and headquarter of Texans is NRG Stadium. The current owner of the team is American businessman Bob McNair, who is the founder and former CEO of the cogeneration company Cogen Technologies. He established the Houston NFL Holdings in 1998 and the NFL announced the Texans had been awarded to McNair on October 6, 1999. He became the entire shareholder of the Houston Texans in 2010 after he purchased the team for $750 million according to Forbes.
St. Louis Rams
Professional American football team from Missouri, St. Louis Rams, participates in NFL as a member of the American Football Conference’s West Division. The team was established in Cleveland by attorney Homer Marshman as the Cleveland Rams in 1936 and officially became the St. Louis Rams in 1995. The current home of Rams is Edward Jones Dome, and the Headquarter is situated in Earth City, Missouri. The current owner of the team is American entrepreneur Stan Kroenke who is also the owner of Kroenke Sports Enterprises which owns NBA’s Denver Nuggets and NHL’s Colorado Avalanche. Stan purchased 40-percent shares of the Rams in 1995 after their relocation in Missouri and again bought the remaining shares after the death of previous owner Georgia Frontiere in 2010 which made a total deal of $750 million.
Professional American football team from Florida, Jacksonville Jaguars, participates in NFL as a member of the American Football Conference’s South Division. The team was established in Jacksonville in 1993 and started to participate in NHL as an AFC Central Division team from 1995 as an NFL expansion team and moved to south division in 2002. The current home of the Jaguars is EverBank Field. Currently, the owner of the team is Pakistani-American billionaire Shahid Khan who recently purchased the English football team Fulham F.C. on 2013. He purchased the 100% share of the Jacksonville Jaguars from the previous owner Wayne Weaver for a whopping $760 million on January 4, 2012. Shahid also became the first member of an ethnic minority to purchase an NFL team in history after he took over the Jaguars.
Professional American football team from Washington, D.C. metropolitan area, Washington Redskins, participates in NFL as a member of the American Football Conference’s East Division. As of 2013, the Redskins are the third most valuable NFL franchise with an estimated value of $1.6 billion according to Forbes. The team was established in 1932 and till now, they have captured 13 NFL divisional titles and 6 NFL conference titles. The current home and headquarter of the Redskins is FedExField in Landover, Maryland. Currently, the owner of the team is American billionaire Daniel Snyder who is also the primary investor in Red Zebra Broadcasting. He purchased the team in May 1999 for $800 million after the death of previous owner Jack Kent Cooke. The purchase was financed with a loan by Société Générale for $340 million and $155 million personal debt.
Professional American baseball team from Illinois, Chicago Cubs, participates in MLB as a member of the National League’s Central Division. The team was established in 1870 as the Chicago White Stockings and officially became the Chicago Cubs in 1907. Cubs are the oldest American professional sports club who is still active and situated on the same city since its establishment. The current home and headquarter of Chicago Cubs is Wrigley Field since 1916. Currently the owner of the team is the Director of TD Ameritrade Holding Corporation, Thomas “Tom” Ricketts who is also the CEO of Incapital LLC. Tom purchased the team, Wrigley Field, and 25% of Comcast Sports Net Chicago for an estimated $900 million on October 27, 2009 after it was approved unanimously by the NFL’s finance committee on October 6, 2009.
Professional American football team from Miami metropolitan area, Miami Dolphins, participates in NFL as a member of the American Football Conference’s East division. The team was established in Miami in 1966 by Joe Robbie and Danny Thomas as an expansion team for American Football League. The team started to participate in NFL from 1970 during the AFL–NFL merging. The current home of Dolphins is Sun Life Stadium and has their headquarters in Davie, Florida. Currently, the owner of the team is the American real estate developer Stephen M. Ross who purchased 50 percent of the Miami Dolphin in February 2008 for $550 million, and again purchased 45 percent from the previous owner Wayne Huizenga on January 20, 2009 which made the deal worth a total of $1.1 billion.
Professional American football team from New York, Buffalo Bills, participates in the National Football League as a member of the East Division of the American Football Conference. The team was established in Orchard Park in 1960 as an expansion team for American Football League and started to participate in NFL from 1970 during the AFL–NFL merging. The current home of the Bills is Ralph Wilson Stadium since 1972. Currently, the owners of the team are Terrence “Terry” Pegula and Kim Pegula who also owns the Buffalo Sabres of the NHL. The Pegula duo got the unanimous approval by the NFL’s finance committee for their $1.4 billion purchase agreement on Wednesday, September 17, 2014. This deal is also the most expensive purchase in NFL history and surpassed the record of Miami Dolphins.
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English professional football club from Greater Manchester, Manchester United, participates in English Premier League and is known as one of the best and most successful football clubs in the world. The team was established in England in 1878 as Newton Heath LYR Football Club and moved to Old Trafford in 1910 after they officially became Manchester United in 1902. The current home of The Red Devils is the second-largest football stadium in the United Kingdom called Old Trafford. Currently, the owner of the team is Malcolm Glazer, who also owns the Tampa Bay Buccaneers of the NFL. Manchester United was purchased by Glazer for $1.47 billion in the form of payment in kind loans in 2005. Glazer sold a substantial amount of share on the New York Stock Exchange in an initial public offering in August 2012.
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Los Angeles Dodgers
Professional baseball team from California, Los Angeles Dodgers, participates in MLB as a member of National League West division. The team was established in Brooklyn in 1883 as Brooklyn Atlantics and registered themselves as Brooklyn Dodgers in 1932. They got the name Los Angeles Dodgers before the 1958 season when they moved to Los Angeles and played their first four seasons at the Los Angeles Memorial Coliseum. The current home of the Dodgers is Dodger Stadium aka Chavez Ravine. Currently, the owner of the team is former CEO of Microsoft, Steve Ballmer, who purchased the Dodgers with $2 billion which is four times the valuation of the team in 2012. With his whopping fortune of $20.7 billion, he placed a bid for the team on May 29, 2014 and officially became the owner on August 12, 2014.
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Los Angeles Clippers
Professional basketball team from California, Los Angeles Clippers, participates in NBA as a member of Pacific Division of the NBA’s Western Conference. The team was established in Buffalo in 1970 and started with the name Buffalo Braves as one of the three expansion teams to join the NBA in 1970. They got the name Los Angeles Clippers in 1984 when they moved to California. The current home of the Clippers is Staples Center, which is shared with another basketball team, the Los Angeles Lakers. A global investment and advisory financial services company called Guggenheim Partners is currently the owner of the team with their controlling partner Magic Johnson. While having more than $210 billion worth of assets under their control, the Clippers was purchased by them for $2.15 billion in cash in March 2012.
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Other notable mentions as the highest purchases of sports clubs are New York Jets and Houston Astros. Eastern Division member of the American Football Conference in the NFL, New York Jets, was purchased by Woody Johnson for $635 million in 2002. MLB’s Western Division member, Houston Astros, was purchased by Jim Crane for $610 million in 2011.
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