Ownership shifts reshape iconic sports teams as pro leagues expand and valuations surge in 2025

Two of the NBA’s most decorated franchises changed ownership this year.

The WNBA’s growing popularity has fueled plans for multiple expansion teams in the coming years.

Hurricane Milton severely damaged Tropicana Field, which forced the Rays to play home games at George M. Steinbrenner Field — the spring training home of the New York Yankees — in 2025 before new ownership clarified the team’s future.

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Growth in U.S. women’s professional soccer further underscored the broader impact sports had in 2025.

Here’s a look at some of the biggest sports ownership changes, league expansions and other stories that defined the year.

In June, the Buss family entered a purchase agreement for the Los Angeles Lakers with Guggenheim Partners CEO Mark Walter for a valuation of approximately $10 billion. The figure represented the highest valuation on record for a U.S. professional sports team. 

While the deal transferred majority ownership to Walter, the Buss family retained a minority stake in the franchise. Jeanie Buss continues to represent the Lakers on the NBA’s board of governors.

The deal also included guarantees giving Buss the power to continue overseeing the franchise’s day-to-day basketball operations for “at least a number of years,” ESPN reported at the time.

Elsewhere, in August, the NBA board of governors backed a Bill Chisholm-led investor group gaining controlling interest in the Boston Celtics. The deal was worth approximately $6.1 billion. The Celtics won the franchise’s record-setting 18th NBA championship in 2024, surpassing the Lakers for the most in league history.

Real estate magnate Patrick Zalupski led an investment group that gained approval for a controlling interest in the Rays after Stu Sternberg expressed interest in parting ways with the MLB club. The deal to acquire the Rays reportedly closed at $1.7 billion in September.

In late January, an investment group headed by Robert Cohen, the chairman and CEO of IMA Financial, set an NWSL expansion fee. The deal awarded Denver its first NWSL team, whose name was unveiled in the summer as the Denver Summit. The franchise is scheduled to take the pitch in 2026. Another expansion club, the Boston Legacy, will also begin play that year.

In November, the NWSL announced that Atlanta had been awarded the league’s 17th franchise, set to debut in 2028. The expansion club will be owned by Atlanta Falcons owner Arthur Blank.

“I want to thank Commissioner Jessica Berman, NWSL owners and the expansion committee for their trust in awarding Atlanta this opportunity, as well as our executive leadership team for their tireless efforts as we have worked to make this dream a reality. We can’t wait to see our NWSL club take the pitch in 2028,” Blank said in a statement.

Cleveland, Detroit and Philadelphia are all slated to become home to the three newest WNBA teams. The additions will bring the league to 18 teams by 2030.

Dan Gilbert’s Rock Entertainment Group was announced as the ownership entity for the Cleveland-based team, which is scheduled to tip off in 2028. Gilbert also owns the Cleveland Cavaliers.

Steve Pagliuca, a Celtics minority owner, spearheaded an investment group that reportedly reached an agreement with the Mohegan Tribe — the ownership group of the WNBA’s Connecticut Sun. Pagliuca’s group announced plans to relocate the franchise to Boston after the deal closed.

However, WNBA leadership pushed back, saying relocation decisions rest with the league’s Board of Governors, not individual teams.

The Mohegan Tribe purchased the Sun in 2003 and successfully moved the team, formerly known as the Orlando Miracle, from Florida to Connecticut that year. According to ESPN, there are several options on the table pertaining to the franchise’s future.

Options include a league-led purchase, a Marc Lasry-backed relocation to Hartford, or a partial sale approved by the WNBA.

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