Wed. Feb 28th, 2024

Formula One’s parent company Liberty Media has maintained its place at the top of Forbes’ list of the world’s most valuable ‘sports empire’ for 2024, with a valuation of US$18.22 billion.

Confirmed:

Liberty Media’s value went down by 12 per cent from the previous year’s list
Kroenke Sports & Entertainment was placed in second at a value of US$15.59 billion
Fenway Sports Group (FSG) moved up the list into third place with a valuation of US$12.95 billion
The top five was rounded off by Dallas Cowboys owner Jerry Jones (US$12.8 billion) and Harris Blitzer Sports & Entertainment (US$11.86 billion)
The 25 most valuable sports empires in the world carried an aggregate enterprise value of US$216 billion (average of US$8.6 billion), which was a 24 per cent rise from the previous year

Context:

A number of groups listed by Forbes made significant moves over the past year, with Harris Blitzer Sports & Entertainment (HBSE) increasing its value by 155 per cent thanks mainly to Harris’ US$6.05 billion acquisition of the Washington Commanders.

In Canada, Maple Leaf Sports and Entertainment (MLSE), which owns the National Hockey League’s (NHL) Toronto Maple Leafs and the National Basketball Association’s (NBA) Toronto Raptors, sold a stake to pension plan Omers, which reportedly valued the organisation at over US$8 billion.

Meanwhile, Monumental Sports & Entertainment, which owns several Washington DC-based sports teams, sold a five per cent minority stake to the Qatar Investment Authority (QIA), with the company reportedly valued at US$4.05 billion.

Coming next:

Some ‘empires’ could see a jump in their value over the course of this year, including Miami Dolphins owner Stephen Ross, who is reportedly in talks to sell a minority stake in the National Football League (NFL) franchise and in Formula One’s Miami Grand Prix.

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