Big Changes in Sports Ownership: Who's Buying and Who's Selling?

Laurene Powell Jobs, the widow of Steve Jobs, is stepping back from her role in sports ownership. She's selling her share in Monumental Sports & Entertainment, the company that owns the Washington Wizards and other sports teams. This news comes from reports by Scott Soshnick and Eben Novy-Williams. Two big buyers are interested. One is Qatar Investment Authority, a wealthy investment group from Qatar. The other is Arctos Partners, a company that invests in sports teams. It's not clear yet how much of the company each buyer will own. Powell Jobs first bought a big part of Monumental Sports & Entertainment in 2017. She sold some of it in 2022. Now, she's selling the rest. The company is worth a lot of money, about $7. 2 billion. This value includes the Wizards, the Washington Capitals, the Washington Mystics, and other assets.The Wizards are the most valuable part of the company. They are worth $4. 78 billion, according to recent reports. Qatar Investment Authority already owns a small part of Monumental. This makes them the first group from another country to directly invest in a major U. S. sports team. Arctos Partners owns parts of other teams, like the Golden State Warriors. Ted Leonsis is still the main owner of Monumental and the Wizards. Other owners include Jeffrey Skoll, Sheila Johnson, and Mark Lerner. These are all wealthy people who have invested in sports teams. This sale shows how sports teams are big business. They attract investors from all over the world. It's not just about the games; it's about the money and the influence that comes with owning a team.