National Basketball Association, the abbreviation for NBA – a sensational term indeed refers to the one of the polished basketball league of the world which is equally successful in its endeavours. It is undoubtedly a huge business that attracts the multimillionaire and billionaire lot, the league employs professional players and indulges a lot of money making.
The prime criteria to own any NBA team is to be a billionaire. Henceforth, the owners of NBA teams make big investments where everything is like a profit and loss statement. Perfect strategy is employed by the owners in order to receive greater revenue in return which is possible only if the team bags winning. Let us have a look at the richest NBA owners of 2018 who are extremely successful in their endeavours and upholding the great teams.
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10. Mark Cuban
Mark Cuban an entrepreneur by profession is the owner of the NBA team – Dallas Mavericks with a net worth of $3.2 billion. He established himself in the sports community in the year 2000. Cuban appeared as the biggest enthusiast for his team and with his unique ideas and strategies helped Dallas Mavericks to redefine its present day shape and game status. An innovative initiative was launched by Cuban in the form of blogs that were run by him delivering a twinning experience of his technical insights and views or thoughts regarding his team. Likewise, his blog too received worldwide popularity and appreciation.
9. Tom Gores
Tom Gores as the name suggests is one of the richest Americans and a billionaire as well who manages more than 25 companies. Popularly known as the owner of Detroit Pistons, he is also the Chairman as well as the CEO of company ‘Platinum Equity’. His NBA team – Detroit Pistons has a net worth of $3.9 billion. Alike Cuban, he too has a keen interest in all the operations executed by his team and indeed is re-living his sports journey through his team.
8. Richard Devos
Since early times the co-founder of Amway, Richard Devos had sole interest in the game of baseball and tried his best to introduce the sports in the ‘city beautiful’ but somehow failed in these venture that ultimately led him to purchase the NBA team named Orlando Magic. For Richard Devos, Orlando Magic is not just a team but is very much similar to a family affair involving all the members of his family regarding all the execution and operational activities of the team, which has a net worth of $4.7 billion.
7. Dan Gilbert
Dan Gilbert, a graduate of Michigan University became the founder as well as the chairman of one of the largest mortgage lenders – Quicken Loans Inc. and added another milestone in his business career by becoming the Chairman of Cleveland Cavaliers, the NBA team with a net worth of $4.9 billion. Cleveland Cavaliers hail the second highest position in terms of attendance for second consecutive season in the NBA league. Dan Gilberts is an active shareholder in many sports related consumer business.
6. James Dolan
In the money making business, there are several billionaires who made it big, James Dolan is one of them. Founder and chairman of the company Madison Square Garden became the owner of NBA team – New York Knicks. However, the team had a losing history for the last decade and James Dolan is entirely responsible for it owing to his mismanagement skills.
5. Micky Arison
Micky Arison is the successful owner of the NBA team – Miami Heat, with a net worth of $7.1 billion. Under his supervision ‘Miami Heat’ achieved three winning championships. In the year 2005, Micky Arison was elected the chairman of the board of governors of NBA. With a well flourished business career Micky Arison is one of the most successful leaders of the cruise operations in the world. He had a great contribution in reshaping the excellence of his NBA team.
4. Mikhail Prokhorov
Owner of NBA team – Brooklyn Nets, with a net worth of $7.6 billion, Mikhail has stakes in few Russian companies such as insurance, aluminium, banking and power. The performance of Brooklyn Nets grew catastrophic gradually under the ownership of Mikhail. Since the day Mikhail had purchased Brooklyn Nets, the value of the NBA teams had reached the heights of the sky. Mikhail Prokhorov is also the founder of ONEXIM group.
3. Stanley Kroenke
As dated back to American Sports, Stanley Kroenke hails a big name. He is the owner of Denver Nuggets – a NBA team with a net worth of $7.7 billion. Kroenke is well known in the sports field for maximising the efforts in order to increase the potential of all his sports venues. Kroenke is one of the silent personalities who chose to remain offbeat away from the limelight. He is also the owner of the Colorado Mammoth, the Colorado Avalanche, the Colorado Rapids, etc. Stanley Kroenke’s another feature is that he is also one of the biggest shareholders of Arsenal League.
2. Paul Allen
Paul Allen is the co-founder of Microsoft along with Bill Gates. Seeking into his personal life, Paul is a college dropout like Bill Gates and is also one of the wealthiest persons in America. He is the owner of three teams – Portland Trail Blazers (a NBA team), the Seattle Sounders and the Seattle Seahawks with a net worth of $17.5 billion. His team Portland Trail Blazers reached the finals of NBA after Paul received the franchise of NBA. When it comes to the field of sports he is one of the big shots.
1. Steve Ballmer
The wealthiest owner of the National Basketball Association – Steve Ballmer is the owner of the Los Angeles Clippers. Steve was in the news for said to have overpaid for the team’s franchise. Of all the sports, Ballmer’s favourite was basketball and this led him to purchase the team. He was the former CEO of Microsoft and is responsible for making the team NBA champions. Paul’s great financial investment in the team is like a major risk in the profit and loss scenario.
National Basketball League has evolved into one of the major establishing forces gradually with the passing of time and is earning huge on investments and revenues. The wealthiest business lot have completely associated them with this venture that will soon spread globally. The owners of this association are thus big shots who either are living their sports journey through this or are just into the money making business.