Team owners of the NBA are quite interesting people. They comprise of successful executives, real estate magnates, tech giants and the likes who turned their love of the sport into profit. While it seems a crazy idea to invest hundreds of millions or at times, billions of dollars on a team, the basketball league has proved itself to be an innovative and fruitful revenue stream not just in sports but also, in entertainment.
The People behind NBA Teams
So who are really these people who own and manage your favorite NBA teams in the league? Well, likewise with QQ online casinos and other businesses, there are a lot of people you can come across with. But let us talk some of them to give you a general idea.
Daniel Gilbert is actually the owner of Cleveland Cavaliers. At the same time, he’s also the youngest to ever own an NBA team franchise. Most of his net worth was acquired from real estate industry. He additionally co-founded Quicken Loans, which is the biggest lender of home mortgage in the US. It was established in 1985 and was sold for around 632 million dollars in 1999 and then bought back few years later for around 64 million dolars.
Even though LeBron was traded, the team’s net worth is still a staggering 1 billion dollars. It was able to attain its highest ticket sale despite of not having LeBron on the team. Cavaliers generated an operating income of over 302 million dollars with 152 million dollars of it coming from gate receipts.
Steve Ballmer has extreme love and passion to the Los Angeles Clippers team. He is additionally Microsoft’s CEO. Since the time he bought Clippers for about 2 billion dollars, he worked relentless to turn the team as a premier franchise in the league.
If there is a loyal fan of the Dallas Mavericks, then it would be none other than Mark Cuban. He has made significant contribution to the rise of the team in the league.
In fact, he played a huge role as well in the fans’ loyalty to the team. Perhaps, this can be because of the deep understanding of entertainment and sports by Cuban and also, his ambition of meeting the satisfaction of fans from the team.
Technically speaking, Cuban built his over 4 billion dollars net worth in the tech industry. He then became a billion after making a big deal of selling the online streaming company Broadcast.com to Yahoo.com.