On a recent episode of “The OGs” podcast, hip-hop mogul Rick Ross revealed he wants to own a piece of the Miami Heat to hosts and former Heat players Udonis Haslem and Mike Miller. But to what end?
“Oh, you already know I’m gonna keep it real now. I need y’all to walk me in there. Come on, we gotta get us a piece of that Miami Heat. One time for La Spoelstra Nostra, you already know,” Ross said. “Hey, big homie, that’s a dream; that’s a dream for Rozay, you know, just to see, you know, the city because it wouldn’t just be for me. It’ll be for the city.”
For The City?
On its face Ross wanting to do something “for the city” is great. But how would it be for the city? Will he make tickets more affordable for fans that can’t afford to attend games? Beyond sitting courtside, which he already does, and getting access to players — something he already has — what is the point?
Forbes has the Miami Heat valued at $3.9 billion, Ross’ net worth is an estimated $150 million. Even a 5 percent stake in the team is more than Ross’ net worth.
The Heat’s current governor, Micky Arison, is worth $7.7 billion. It’s unlikely he’s looking to sell any stake in his team, and either way it’s out of Ross’ price range.
Owning sports franchises is primarily the playground of ultra wealthy billionaires.
NBA Lacks Governors Of Color
While it would be nice if the league had a majority governor that is a person of color, it’s just not in the cards right now. Unless LeBron James seriously increases his net worth over the next decade, which is possible.
But this would just be a vanity play. Like it is for most of the majority owners of sports franchises. Very few are in it for the purpose of consistently fielding a competitive team. Most owners just enjoy the cachet that comes with owning a team and the financial benefits they can withdraw almost like a personal piggy bank if they choose.
The idea of being a part owner of his hometown team is like Ross says, a dream.
