CNBC ranked the world's twenty most valuable sports ownership groups. Combined worth hits $269 billion. That's roughly the market cap of Costco, except these people sell overpriced beer and disappointment instead of $1.50 hot dogs.
Sports empires. They called them empires. A guy who owns three stadiums and a yacht collection gets the same title as Genghis Khan. The Mongol Horde conquered half of Asia. These guys conquered the ability to charge seventy dollars for parking.
Someone at CNBC spent weeks building a valuation model for this. Ran DCF analyses on franchises. Adjusted for revenue multiples. Factored in media rights deals. Then published a list that will be completely irrelevant by next quarter when one of these billionaires buys another team or sells to a sovereign wealth fund. That's not financial journalism. That's expensive horoscopes.
The retail trader sees this headline and thinks it's a signal. Starts researching sports ETFs. Buys shares in Madison Square Garden Entertainment. Tells his wife they're getting in early on the sports empire boom. His wife is already texting her divorce attorney.
Here's what matters for your portfolio: exactly nothing on this list. You cannot buy a percentage of Jerry Jones. You cannot trade Steve Ballmer futures. These valuations exist in a private market where the only participants are people who wipe their a**es with your annual salary.
But sure, study the list. Memorize the rankings. Bring it up at your next family barbecue. Impress everyone with your knowledge of which billionaire's sports portfolio is worth more. They'll be so proud of you for knowing completely useless information while your Robinhood account bleeds out on meme stocks.
The world's richest sports owners are worth a combined $269 billion, and not one of them gives a f*ck what CNBC ranks them.
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