professional sport franchise

Bob Iger’s purchase of the Lakers isn’t the former Disney boss’s first foray into ownership of a professional sports franchise in Southern California: Twenty-five months ago Iger and his wife, Willow Bay, dean of the Annenberg School for Communication and Journalism, acquired a controlling interest in soccer club Angel City for $50 million.

And while the NWSL is a long way from the NBA — and $50 million is a long way from the $12.5 billion the basketball team sold for Wednesday — the Iger family’s management of the women’s soccer team may hint at what’s in store for the Lakers.

Spoiler alert: it’s not all good.

Iger’s investment pushed Angel City’s valuation to $250 million, making it the world’s most valuable women’s professional sports franchise. And six months after taking over the team, Bay cut the ribbon on a multi-million-dollar training complex at Cal Lutheran University in Thousand Oaks, which added to the team’s worth.

“Bob and I were very clear about investing the resources in this team and the people who lead and manage it. And most certainly the women who play for it,” Bay said at the time. “We know how important it is to do our best to bring a championship to this city.”

Yet also under Iger and Bay’s leadership, Angel City’s average attendance has fallen more than 20% and the team has yet to make the playoffs or post a winning record. The roster does not have a superstar player or even a regular starter on the women’s national team — with the salary of defender Gisele Thompson, the team’s highest-paid player, ranked 19th in the 16-team league. And the club is on its fourth manager, including interim coaches, and its second president of business operations in two years as Bay maneuvers to put her own stamp on the team.

However Mark Parsons, Iger and Bay’s hand-picked sporting director, lauds the team’s new owners, saying his staff has doubled in his 20 months at Angel City and the club is finally headed in the right direction.

“They gave us the resources,” said Parsons, who previously built struggling teams into NWSL finalists in Washington and Portland. “They’ve delivered upon that. We are investing in sporting staff and resources and facilities and consultants and experts around the world to support our athletes.

“Probably as good as anyone right now.”

Parsons said he speaks frequently with Bay, who has been hands-on in running Angel City. Iger will likely be the more active partner in managing the Lakers.

“Willow is one of the best leaders I’ve ever been around in my life, never mind my career,” Parsons said. “Spending time with Willow and Bob is an education in leadership and life. They are really special leaders.

“The best compliment I could give them is when I was in my final interview, who they were in that moment was the same people I’ve met when we’ve had good moments or stressful moments to navigate together.”

Travis Kelce has become the latest athlete to buy into a professional sports team, purchasing a minority stake in the Cleveland Guardians, the MLB franchise he rooted for growing up in Cleveland Heights, a vibrant suburb 15 minutes from downtown.

Ballplayers buying into professional sports franchises has become almost routine. And why not? They are wealthy, love sports and often want an ownership stake of a team in a city full of fans who love them back.

Kelce is the latest to do so. The only question is, what took him so long?

“I have so much love for this city,” Kelce told ESPN. “I say it all the time: I’m just a kid from the Heights living the dream. I credit every good thing in my life to Cleveland and being raised here with the values and the people and the work ethic.

“Cleveland Heights is such a diverse and dynamic place. Every friend, neighbor, teacher and teammate — they all made me the man I am today.”

And that man is very wealthy. The Kansas City Chiefs tight end and burgeoning business titan has earned $111 million playing in the NFL. He and his brother Jason have a $100-million deal with Amazon Wondery for their popular New Heights podcast.

Kelce, 36, also makes an estimated $35 million a year from endorsement deals with Nike, Pfizer, State Farm and other major brands.

Oh, and let’s not forget that his fiancee, Taylor Swift, is the wealthiest female musician in the world with an estimated net worth of $1.6 billion.

Although Swift has never publicly mentioned owning a sports franchise, NFL Commissioner Roger Goodell did comment on the possibility at a Super Bowl news conference two years ago.

Tom Brady had been approved as part owner of the Raiders, boosting season-ticket sales, leading to this question posed to Goodell.

“With that, has anyone approached Taylor Swift about being a minority partner in the Chiefs?”

Goodell grinned and replied, “I really don’t know the answer to that one. If she’s interested, she has the ability to do it, let’s put it that way.”

The list of athletes who own a piece of sports franchises is long. Begin with Magic Johnson and Billie Jean King, part of the group that owns the Dodgers and Sparks. Kelce’s Chiefs passing partner Patrick Mahomes has been a minority owner of the Kansas City Royals since 2020.

Tennis superstar sisters Venus and Serena Williams became the first black women to hold a stake in an NFL team when they became minority owners of the Miami Dolphins in 2009.

Giannis Antetokounmpo expressed his love for Milwaukee by purchasing a stake in the Brewers baseball team. The Lakers are rumored to possibly trade for the Milwaukee Bucks superstar this offseason. Would that make Antetokounmpo a candidate to take the Angels off the hands of Arte Moreno, who at games has been blistered by a large group of shirtless fans chanting “sell the team?”

Because he is an investor in the Fenway Sports Group, Lakers star LeBron James owns a piece of the Boston Red Sox, Liverpool FC, the Pittsburgh Penguins and RFK Racing. The 41-year-old veteran of 23 NBA seasons makes no secret that he someday wants to own an NBA team.

“I got so much to give to the game. I know what it takes to win at this level. I know talent,” James said in 2021. “I also know how to run a business as well. And so, that is my goal. My goal is to own an NBA franchise.”

James is the first active NBA player to achieve billionaire status, and his estimated net worth of $1.3 billion to $1.5 billion puts him in Swift territory. He might not need to preface his ownership stake with the word minority.

Kelce, meanwhile, is happy for now to own just a piece of the Guardians, whose value has risen from $1 billion four years ago to $1.7 billion today.
“I’ve been lucky enough to have a front-row seat to good ownership in my career, and I know the best teams prioritize culture,” Kelce said. “Everyone is there to play their role, and right now, I’m here to observe and learn and really to support the team and the city when and where I can.”