From Denver Broncos to Chelsea – world’s most expensive sporting takeovers
The takeover process at Manchester United is set to hit another milestone with Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani expected to submit improved bids.
A figure of around £5billion has been quoted for the offers – short of the reported £6billion valuation made by the current owners, the Glazer family, but a prospective world record for purchasing a sports team.
Here, the PA news agency looks at the world’s most expensive sporting takeovers.
.@F1 is back this weekend! 🏎
Best of luck to #Broncos Owner @LewisHamilton as he returns to the grid! pic.twitter.com/GRfuhZRTzh
— Denver Broncos (@Broncos) March 2, 2023
NFL side the Denver Broncos were bought by the Walton-Penner Family Ownership Group last summer for 4.65billion US dollars (approximately £3.8billion). The new ownership team was led by Rob Walton, the heir to the fortune of Walmart, the US retailing giant. Lewis Hamilton and former US Secretary of State Condoleezza Rice are also part of the group.
The current Premier League record is held by the Todd Boehly-led consortium that took over Chelsea last year after former owner Roman Abramovich’s assets were frozen because of his links to Vladimir Putin. The total investment of £4.25billion, comprising buyout and money ploughed into the club, is a global record. American billionaire Boehly also holds stakes in the Los Angeles Dodgers and LA Lakers.
Taiwanese-Canadian billionaire Joseph Tsai, co-founder of technology company Alibaba, bought a controlling stake in NBA franchise the Brooklyn Nets as well as their Barclays Center home in 2019. The financial details were kept private but Bloomberg reported the investment to be 3.5billion US dollars (approximately £2.85billion).
American hedge fund manager David Tepper bought the NFL franchise the Carolina Panthers in May 2018 for nearly 2.3billion dollars (approximately £1.85billion). Tepper was formerly a minority owner of the Pittsburgh Steelers.
Houston restaurant billionaire Tilman Fertitta purchased NBA side the Rockets in 2017 for 2.2billion US dollars (approximately £1.8billion) – a then record for a US sports team.
Los Angeles Dodgers
Boehly was heavily involved in another of the biggest sporting takeovers – the 2012 purchase of the LA Dodgers baseball team by Guggenheim Baseball Management. The group, including Boehly and former basketball player Magic Johnson, paid 2.15billion US dollars (approximately £1.75billion) and have overseen a transformation that led to the Dodgers winning the World Series in 2020.