HOW TO BUY A PRO SPORTS TEAM.

This article examines the growing trend of wealthy individuals, including celebrities and private equity firms, purchasing professional sports teams. It highlights the rising prices and limited availability of franchises, which has led to increased demand. The motivations behind owning a sports team, such as prestige and visibility, are explored, along with specific examples of recent team sales and interviews with team owners and brokers. The process of acquiring a team is competitive and often involves auctions, with investment banks and law firms playing a crucial role. The article also discusses the changing landscape of sports team ownership in Europe, where private equity firms and wealthy individuals are increasingly becoming owners. The author raises questions about the future of sports ownership and the potential conflicts between big business and the human element of sports. [Extracted from the article]