In the United States and in professional sports around the globe, the individuals or entities that own various sports enterprises have been instrumental in setting the direction of the sports business. As long as there have been professional sports, there have been investors motivated by profits, public attention, winning, and community impact. As described in Don Kowet’s 1970s classic The Rich Who Own Sports,1 chariot races in ancient Rome were structured as a league, with corporations owning each of the four teams that competed at Circus Maximus—the Whites, Blues, Reds, and Greens—whose drivers dressed in the appropriately colored tunics. As the Roman Republic became the Roman Empire, the popularity of the ...

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