The National Basketball Association (NBA) is a globally recognized sports league, boasting some of the most talented athletes and successful franchises in the world. But have you ever wondered who owns the NBA? Let's delve into the intricate ownership structure of this prestigious league.
The Collective Ownership of the NBA
Contrary to popular belief, the NBA isn't owned by a single entity or individual. Instead, it operates as a consortium, with each of its 30 franchisees owning a share. This means that the decision-making process involves input from all 30 team owners, making the NBA a collectively owned organization.
The Role of the Board of Governors
The NBA is governed by a Board of Governors, which consists of the 30 team owners. Each owner holds an equal share and plays a crucial role in making decisions regarding the league. The relationship between members is contractual, and the NBA falls under New York State jurisdiction.
Notable NBA Team Owners
The NBA boasts a diverse range of team owners, many of whom are high net worth individuals. For instance, Steve Ballmer, the owner of the Los Angeles Clippers, is currently the richest NBA team owner with a net worth of over $100 billion. Other notable owners include Michael Jordan, who sold his majority stake in the Charlotte Hornets to Rick Schnall and Gabe Plotkin in July 2023, and Mark Cuban, the highly visible owner of the Dallas Mavericks.
The Unique Case of the Toronto Raptors
Interestingly, the Toronto Raptors stand out as the only team in the NBA without a single identifiable majority owner. Instead, they're owned by Maple Leaf Sports Entertainment, with Larry Tanenbaum using his stake in the company to claim ownership of the franchise.