Owning an NBA franchise is an exclusive privilege afforded to just 30 billionaire business moguls and investors around the world. The league's owners come from diverse backgrounds but all possess enormous wealth. Here is a look at what it takes to join the NBA's ownership fraternity:
Net Worth - You need a net worth of at least $2.5 billion to be considered for NBA ownership, according to Forbes' 2022 estimates. Liquid capital of $1 billion is likely required.
Vetting - Prospective owners undergo a thorough background check. Any legal, financial or ethical issues will be scrutinized and likely disqualify candidates.
Vote - After vetting, a purchase agreement must be approved by the NBA's Board of Governors (all 30 team owners) with a 3/4 vote.
Purchase Price - The record sale price for an NBA team is $2.35 billion, paid for the Brooklyn Nets in 2019. Expansion fees for a new team could exceed $2.5 billion.
Arena - Securing arena lease or ownership is necessary to host home games. New arenas can cost $1 billion or more to construct.
Patience - There are only 30 teams and opportunities to buy are rare. Most franchises are passed down generationally. Only one expansion team (Charlotte Hornets) has been added since 2004.
Owning an NBA franchise is an ultra-exclusive club. With limited membership and extreme financial barriers, it's a privilege reserved for the absolute wealthiest business titans. The league remains highly selective in choosing owners who will enhance its brand.