For decades, Black athletes have been the engine of professional sports. They’ve filled stadiums, broken records, sold jerseys, and carried entire leagues on their backs. But when it came time to step upstairs — into ownership, decision-making, and long-term wealth — the door was barely cracked.
That door still isn’t wide open.
But it’s moving.
And for the first time, it feels like momentum — not symbolism.
From Playing the Game to Owning the Building
Historically, Black ownership in major U.S. sports leagues has been rare to the point of being almost mythical.
Robert L. Johnson changed that in 2003 when he became the first Black majority owner of a major U.S. pro sports franchise with the Charlotte Bobcats. Years later, Michael Jordan took that baton and ran with it, becoming the face of Black ownership in the NBA when he acquired the Charlotte Hornets.
Jordan’s tenure wasn’t perfect, but it mattered. It showed that Black ownership wasn’t just possible — it could be visible, influential, and culturally important.
Today, majority ownership remains limited, but minority ownership has exploded — and it’s reshaping the ecosystem.
Athlete Investors Turned Power Brokers
This is where the shift really shows.
Modern athletes aren’t just thinking about contracts — they’re thinking about equity.
- LeBron James is arguably the blueprint. Through Fenway Sports Group, he owns stakes in the Boston Red Sox, Liverpool FC, the Pittsburgh Penguins, and more. He didn’t just buy in — he bought smart.
- Magic Johnson has quietly built one of the most impressive ownership portfolios in sports, with stakes in the Los Angeles Dodgers, Washington Commanders, Los Angeles Sparks, and LAFC.
- Kevin Durant holds ownership interests in MLS teams, the Philadelphia Union, and multiple sports-tech ventures.
- Stephen Curry joined the ownership group of the PGA Tour’s TGL golf league, pushing Black representation into spaces that historically shut it out.
- Shaquille O’Neal has long embraced ownership culture, from minority stakes in teams to franchise investments across sports and business.
These aren’t side hustles. These are legacy plays.
The NFL is Finally Feeling the Shift
The NFL has long been criticized for its lack of diversity at the ownership level — and that criticism is deserved. But even here, things are starting to move.
- Magic Johnson, Serena Williams, and Venus Williams all became minority owners of the Washington Commanders — a historic moment, especially for Black women.
- Jay-Z, through Roc Nation, doesn’t own a team outright, but his influence on NFL culture, halftime shows, and partnerships has permanently altered the league’s relationship with Black culture.
- Myles Garrett, Patrick Mahomes, and Russell Wilson have all explored ownership or investment roles in sports franchises or adjacent leagues, signaling where the next generation is headed.
It’s not a full transformation yet — but it’s no longer zero.
Beyond Basketball and Football
One of the most important developments? Black ownership is expanding beyond the “big four” leagues.
- Issa Rae is part of the ownership group for San Diego FC in MLS, bringing Hollywood culture and community together.
- Marshawn Lynch owns stakes in soccer clubs and has consistently invested in grassroots sports programs.
- Didier Drogba and Dwyane Wade have both invested in global football (soccer), recognizing its long-term global value.
- Kevin Hart, Will Smith, and Ciara have all entered ownership or investor roles in sports leagues, teams, or emerging athletic ventures.
Ownership is no longer limited to traditional power players — it’s becoming cultural.
Black Women Leading the Way
This part deserves its own spotlight.
Black women aren’t just participating — they’re breaking firsts.
- Serena Williams continues to redefine what athlete ownership looks like, with investments across the NFL, women’s soccer, and venture capital.
- Naomi Osaka has invested in women’s leagues and sports media, ensuring athletes control their own narratives.
- Valerie Daniels-Carter, a co-owner of the Milwaukee Bucks, remains one of the most influential Black women in NBA ownership.
- Tems recently joined ownership groups in African and European football clubs, showing how global this movement has become.
- Renee Montgomery, a former WNBA star, became part-owner of the Atlanta Dream, turning athlete activism into executive leadership.
This isn’t just representation — it’s authority.
The Hard Truth: Progress Without Illusion
Here’s the part that matters most:
Even with all this movement, Black people still don’t control the majority of the teams they power.
Wealth gaps, generational access, league approval structures, and closed ownership circles remain real barriers. That’s not opinion — that’s fact.
But what’s changed is strategy.
Black athletes and entertainers are no longer waiting for permission. They’re pooling resources, partnering strategically, and building ownership paths that didn’t exist before.
What the Rise Really Means
This era isn’t about flexing seats in the owner’s box.
It’s about control, representation, and long-term power.
Ownership means:
- Hiring decisions
- Community investment
- Cultural influence
- Generational wealth
And for the first time, a growing number of Black leaders are positioned to shape all of it — not just perform within it.
The rise of Black ownership in sports isn’t complete.
But it’s real.
And it’s accelerating.
And when the next generation looks up, they won’t just see jerseys.
They’ll see keys.
