CNBC's Most Valuable Sports Empires 2025: Here's how the top 20 empires in the world stack up

As team values continue to rise — highlighted by the record $6.1 billion sale of the NBA's Boston Celtics — sports empires are thriving. CNBC's official sports empire valuations determined that the world's 20 most valuable sports ownership groups are worth a combined $225 billion.

According to sports bankers and executives interviewed by CNBC, empires function much like software companies that manage highly valuable intellectual property. That centralized structure enhances value and profitability. Administrative expenses such as accounting and human resources do not rise proportionally with each new team or venue, creating economies of scale. 

Sports empires can vary from one another in the kinds of teams they buy, the types of other businesses they own and the geographical areas where their teams are located.

The most valuable sports ownership portfolio, Kroenke Sports & Entertainment, owned by Stanley Kroenke, stands well above the rest. Valued at $21.2 billion, the empire spans geography and sports. It includes the NFL's Los Angeles Rams, the NHL's Colorado Avalanche, the NBA's Denver Nuggets and the Premier League's Arsenal.

Other empires are also diverse in terms of geography and types of sports.

Harris Blitzer Sports & Entertainment, co-owned by Josh Harris and David Blitzer, ranks third on CNBC's list, with a valuation of $14.6 billion. HBSE's holdings include the NFL's Washington Commanders, the NBA's Philadelphia 76ers, the NHL's New Jersey Devils and minority stakes in NASCAR's Joe Gibbs Racing and Premier League club Crystal Palace.

Fenway Sports Group, co-founded by John Henry and Tom Werner, owns MLB's Boston Red Sox, the NHL's Pittsburgh Penguins, Liverpool FC of the Premier League and the regional sports network NESN. It also holds minority stakes in NASCAR's RFK Racing and PGA Tour Enterprises, the commercial arm of the PGA Tour. FSG is ranked fourth, at $14.2 billion, according to CNBC's calculations.

Monumental Sports & Entertainment, ranked 19th, has focused on building a highly concentrated regional empire. It owns the NHL's Washington Capitals, the NBA's Washington Wizards, the WNBA's Washington Mystics and the Monumental Sports Network. MSE is valued at $7.8 billion, according to CNBC's valuations.

AEG Worldwide ranks sixth at $12 billion, not including its music or hotel businesses. Though it owns just two teams — the NHL's Los Angeles Kings and MLS' LA Galaxy — AEG's sports portfolio centers on major entertainment venues. These include Crypto.com Arena in Los Angeles, The O2 in London and Barclays Arena in Hamburg, Germany. It also operates the AccorHotels Arena in Paris and holds a minority stake in T-Mobile Arena in Las Vegas. AEG also owns ticketing firm AXS, which services many events hosted at its venues.

City Football Group, ranked 20th, is owned by Sheikh Mansour bin Zayed Al Nahyan and is focused on a single sport: soccer. Its primary asset is English soccer team Manchester City, but CFG also holds a majority stake in MLS' New York City FC and investments in soccer clubs across Brazil, Australia, Japan, China and India. CFG is valued at $7.7 billion, according to CNBC's valuations.

More sports empires are on the way. In June, Mark Walter — who bought a minority stake in the NBA's Los Angeles Lakers in 2021 and owns several other sports properties, including MLB's Los Angeles Dodgers — agreed to buy a controlling interest in the Lakers for $10 billion. Also in June, New York Jets owner Woody Johnson agreed to buy John Textor's 43% stake in the Premier League's Crystal Palace.