For decades, professional sports ownership was a closed circle — limited to a small group of wealthy, mostly white investors. But today, a new generation of Black entrepreneurs, entertainers, and former athletes is breaking through that barrier, bringing representation and innovation to the business side of sports.

These pioneers aren’t just buying teams — they’re changing how fans engage, how leagues are run, and how communities benefit from the game.

The Rise of Black Ownership in Major Sports

Ownership in sports has historically been dominated by old money. But as player salaries, endorsements, and business opportunities exploded in the 2000s and beyond, more African Americans began reinvesting their wealth into ownership stakes.

Michael Jordan changed history in 2010 by becoming the first Black majority owner of an NBA franchise when he purchased the Charlotte Hornets (then Bobcats). For more than a decade, he shaped the organization as both an athlete and executive — a rare combination in professional sports.

In 2023, Jordan sold his majority stake for an estimated $3 billion to a group led by Rick Schnall and Gabe Plotkin, while retaining a minority share. His exit marked both the end of an era and the beginning of a new one — inspiring a wave of new Black investors and athlete-owners to follow his path.

Today, figures like LeBron James, Magic Johnson, and Renee Montgomery are continuing that legacy — proving that ownership is no longer a dream but a blueprint.

2. Athletes Turning into Investors

Many athletes are realizing that true power in sports lies in ownership. They’re turning career success into long-term business opportunities.

• LeBron James — investor in Fenway Sports Group (owners of the Boston Red Sox, Liverpool FC, and the Pittsburgh Penguins).
• Magic Johnson — co-owner of the Los Angeles Dodgers, LA Sparks, and Washington Commanders.
• Renee Montgomery — co-owner of the WNBA’s Atlanta Dream, becoming one of the few Black women to own a professional sports team.

Montgomery’s journey is especially symbolic: she retired as a player and then bought into her own former team, proving that ownership is the next stage of athlete empowerment.

3. The Role of Black Tech and Media Entrepreneurs

It’s not just athletes stepping up. Black tech founders, media moguls, and cultural innovators are entering sports ownership through creativity and strategic partnerships.

Jay-Z revolutionized athlete management through Roc Nation Sports, bridging music, branding, and representation. Byron Allen, media mogul and founder of Allen Media Group, made headlines with bids to purchase major NFL teams — a reminder that Black ownership is expanding beyond the field and into boardrooms.

These leaders see sports as more than games — they’re content ecosystems that connect entertainment, culture, and global influence.

Conclusion

The shift in sports ownership isn’t just about who holds the keys — it’s about who shapes the narrative. As more Black entrepreneurs take ownership stakes and launch media platforms, they’re building generational power that reaches beyond the scoreboard.

The next generation of Black business leaders isn’t just playing the game — they’re owning it.