Win-Win: Los Angeles Rams’ owner Stan Kroenke has seen the team’s value double since 2017, thanks in part to a Super Bowl victory in 2021.
Championships and new stadiums have fueled the biggest increases in team values during the past half-decade. Titles equate to more prize money, higher ticket prices and richer sponsorship deals. Modern stadiums allow owners to rake in more cash from glitzy suites and restaurants and events like Taylor Swift concerts and UFC bouts.
Among the 27 sports teams that have at least doubled in value over the past five years, 13 (Atlanta FC, NYCFC, LAFC, AC Milan, PSG, Liverpool, Manchester City, Los Angeles Rams, Golden State Warriors, Milwaukee Bucks, Toronto Raptors, Tampa Bay Lightning, Colorado Avalanche) have captured at least one league championship. Nine teams (DC United, NYCFC, Las Vegas Raiders, Los Angeles Rams, Buffalo Bills, Golden State Warriors, Milwaukee Bucks, New York Islanders, Tottenham Hotspur) have moved into, or are getting, new stadiums.
The 27 teams have seen their values increase by an average of 146%. In contrast, the 133 teams that Forbes has valued since 2018 are up an average of 74%. Because our valuations for each sport are published at different times during the year (our most recent lists for soccer and MLB were in 2023, for instance, while the NBA, the NFL and the NHL were in 2022), precise comparisons to the stock market are not possible. But for a rough contrast, the S&P 500 is up 55% for the five-year period through today.
Biggest 5-year gainers.
Two billionaires make the biggest splash on our top 27: Stan Kroenke and Josh Harris. Kroenke, who financed the $5 billion SoFi Stadium, has won a championship with the Rams (2021) and the Avalanche (2022) during the past five years, both of which are on our top 27 list, and one with the Denver Nuggets, who are not on our list but are sure to profit from the NBA title they won this week. Harris, meanwhile, has not yet won a title but is on the verge of buying the Washington Commanders and is looking to build a new arena for the Philadelphia 76ers. Both Kroenke and Harris operate among the most valuable sports empires in the world.

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