Ownership Needs To Be Conservative

There has been rumor and speculation recently about some high profile figures becoming owners of professional sports teams. John Bon Jovi is considering a stake in the Atlanta Falcons, Martin Luther King III is interested in the New York Mets, and Magic Johnson is part of an investment group trying to bring football back to LA. All of these men have achieved major accomplishments in other facets of their life, but how does that translate into a profitable, well run sports franchise?

Other celebrities have taken their turn at ownership with mediocre results. The Williams sisters, Gloria Estefan, and J Lo own a small percentage of the Miami Dolphins (missed the playoffs), Jay-Z owns a piece of the New Jersey Nets (terrible), and Usher owns a portion of the Cleveland Cavaliers (historically bad). Even the great Michael Jordan owns the Charlotte Bobcats and his team probably won't make the playoffs. If it was all about name recognition and influence Mr. Jordan's team would come in first every year. It appears there's more to running a successful sports franchise than having a popular athlete or entertainer at the helm.

Truth be told the best possible ownership group is one with lots of money and an unintrusive demeanor. As you look out at the ownership landscape you see companies like Microsoft, Nintendo, Amway, Quicken Loans, Comcast, Ford Motors, and Johnson & Johnson. These are heavy hitters that have the time and the means to build a solid organization from top to bottom regardless of the cost. In the end a popular name will only get you so far. After that it takes resources and commitment to yield results. Slippery When Wet sold a lot of copies, but I don't necessarily want John Bon Jovi having a say about who's going to be the starting quarterback next year. In my opinion celebrity and sports owner don't mix well.