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From Agents & Entrepreneurs to Team Owners: The Rise of Sports Entrepreneurs in the 80s, 90s & Early 2000s


Image Source: Freepik & Canva


Published by: Zila Mbekela, 5 February 2024




In his book "The Agent," Leigh Steinberg mentioned a very interesting fact about professional sports agents eventually transitioning into pro team ownership. He was also transparent about some agents being intentional and vocal about their desire to own teams. Some of them actually got into the business for that very reason. Based on the high earning potential from brokered commission deals, many agents with high profile clients do find themselves in positions whereby they have the capital to acquire minority ownership of a team. However, having the money to purchase part ownership doesn't always guarantee that the other owners will let them in. In most cases, agents and other entrepreneurs, have had access to acquiring shares in a team as a result of having a relationship with one of the front office executives or team owners, within that team. By leveraging that relationship, they are usually vouched for as upstanding candidates who should be afforded the opportunity to purchase minority shares. Let's have a look at a few individuals who were either sports agents or entrepreneurs in the US sporting market that went onto become team owners in the 80s,90s and early 2000s:


  1. Drew Rosenhaus: Although primarily known as a prominent NFL agent, Drew Rosenhaus has ventured into ownership, holding a stake in the Miami Dolphins.

  2. Tom Condon: Co-head of Football at Creative Artists Agency (CAA), Tom Condon represents numerous NFL players. While he hasn't become a team owner, his agency has a significant impact on the league.

  3. Ben Dogra: Formerly with CAA, Ben Dogra has been involved in representing NFL players. While not a team owner, he has played a significant role in the business side of football.

  4. Joel Segal: A well-known NFL agent, Joel Segal has represented high-profile clients. While not a team owner, his influence is notable in player negotiations and contracts.





Other notable names within that era include:


1.Jeff Moorad:

  • Background: Former sports agent.

  • Ownership: Was a minority owner of the Arizona Diamondbacks (MLB) and San Diego Padres (MLB)


2. Ron Burkle:

  • Background: Investor and co-founder of Yucaipa Companies.

  • Ownership: Co-owner of the Pittsburgh Penguins (NHL).


3. John W. Henry:

  • Background: Futures and commodities trader.

  • Ownership: Principal owner of the Boston Red Sox (MLB) and Liverpool FC (Premier League).


4.Steve Kaplan:

  • Background: Co-founder of Oaktree Capital Management.

  • Ownership: Co-owner of the Memphis Grizzlies (NBA).


5.Tom Gores:

  • Background: Founder and CEO of Platinum Equity.

  • Ownership: Owner of the Detroit Pistons (NBA).


6. Jim Crane:

  • Background: Businessman and entrepreneur.

  • Ownership: Owner of the Houston Astros (MLB).





It's important to note that the transition from sports agent/ entrepreneur to team owner is relatively rare due to the different skill sets and responsibilities associated with each role. Becoming a team owner often involves substantial financial investment, business acumen, and a different set of connections within the sports industry.








 
 
 

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