Kelce grabs a stake in his hometown MLB team
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On Fridays, the Brew’s Dave Lozo looks at a sports business story that says a lot more than just the final score of a game. Kansas City Chiefs tight end and frequent subject of Taylor Swift songs Travis Kelce became a minority owner of MLB’s Cleveland Guardians this week, joining a long line of athletes to dip a toe into sports team ownership. “The opportunity came across my desk and I just couldn’t say no,” said Kelce, a Cleveland Heights native who shocked many by revealing that he owns a desk. Kelce’s share came out of the 35% stake owned by Blackstone exec David Blitzer, who can become the majority owner after the 2027 season. Other athletes with ownership stakes in pro teams include: LeBron James (Boston Red Sox, Pittsburgh Penguins); Tom Brady (Las Vegas Raiders and Aces); David Beckham (Inter Miami CF); Giannis Antetokounmpo (Milwaukee Brewers); and Kelce’s teammate, Patrick Mahomes (Kansas City Royals). Sports team valuations have soared to new heights, and the Guardians are no exception. Per Forbes, the team was valued at $920 million in 2017 but is worth $1.7 billion today. |