The actual value of something is ultimately whatever somebody is willing to pay for it, just ask Steve Ballmer.
In 2014, Ballmer shocked many in the sports world when he paid $2 billion for the Los Angles Clippers — nearly four times the team's perceived value at the time — admitting that he was not in it to make a lot of money.
Ballmer's enthusiastic wallet-first dive into the world of pro sports helped reset the market for what franchises are worth and what owners might expect when they start thinking about selling. Since that deal, it has become more common to see sale prices above $1 billion, but there are also still relative deals to be had.
Below is a look at every pro team that has sold in the major North American sports leagues (NFL, NBA, MLB, NHL, MLS), and the English Premier League, since Ballmer's move, and how much the new owners paid. We have also included notable teams from other top leagues from around the world.
Most recent sales are first and values are the sale price or the valuation in cases where the new owner purchased less than 100% of the team. Forbes and Transfer Markt valuations are based on the most recent valuation prior to the team sale.
FC Cincinnati — $150 million
Year: 2018
League: Major League Soccer
New Owner: Carl Linder III has been with the club since it was founded in 2015 and paid a $150 million expansion fee in 2018 to join MLS.
Forbes valuation: $223 million (the average value of an MLS franchise in 2017)
Carolina Panthers — $2.2 billion
Year: 2018
League: National Football League
New Owner: David Tepper
Forbes valuation: $2.3 billion
DC United — $500 million
Year: 2018
League: Major League Soccer
New Owner: Minority investor Jason Levien and others purchased 78% of the club from Erick Thohir based on a $500 million valuation. Billionaire Patrick Soon-Shiong is the largest shareholder in the group, according to Bloomberg.
Forbes valuation: $230 million
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