Bulls and Bears: Arsenal adds another jewel in the crown of this multi-sport billionaire owner

Denver Nuggets owner Stan Kroenke raises the Larry O'Brien Championship Trophy after a 94-89 victory against the Miami Heat in Game 5 of the 2023 NBA Finals. Photo by Matthew Stockman /Getty Images

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Bulls-of-the-Week

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Arsenal won its first Premier League title since 2004 this week, arguably consolidating Stan Kroenke’s reputation — and track record — as the most successful professional sport team owner in the world. Arsenal was just the most recent of his championships, following on the heels of wins by the Colorado Avalanche in 2001 and 2022 (NHL), Colorado Rapids in 2010 (Major League Soccer), the Denver Nuggets in 2023 (NBA), and the Los Angeles Rams in 2022 (NFL). Kroenke’s portfolio of successful champions also includes seven English women’s football league titles by Arsenal and two National Lacrosse League titles by the Colorado Mammoth.

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No other owner can lay claim to multiple titles won in four of the five major North American professional sports leagues (all but Major League Baseball), nor can they boast of winning championships in five of the biggest leagues in the world.

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That success has translated into a multiple franchise valuation of more than US$23 billion, making his Kroenke Sports & Entertainment ownership group the most highly-valued on the planet. Kroenke also owns SoFi Stadium, which he financed privately to the tune of US$5.5 billion and has turned into one of the best stadiums in the world as home of the Rams in L.A. He’s already won the rights to Super Bowl LXI to be held at SoFi next February (on Valentine’s Day to be exact).

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Kroenke — whose personal net worth is estimated to be US$26.8 billion — could still add another Stanley Cup this spring but his NHL Avalanche will have to find a way to erase a two games to none deficit at the hands of the Vegas Golden Knights in the western conference final.

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Bears-of-the-Week

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Tom Dundon is a tale of two professional franchises in two different cities. The owner of the NHL Carolina Hurricanes is also the lead partner in the Portland Trailblazers of the NBA, which was purchased by Dundon’s group for US$4.25 billion April 1. With the Hurricanes, his turnaround strategy has generally earned kudos and has helped keep the Raleigh-based club Stanley Cup contenders for much of the past half-decade in the Eastern Conference.

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Tom Dundon (centre) of the Carolina Hurricanes attends the 2019 NHL Draft at Rogers Arena in Vancouver. Photo by Bruce Bennett /Getty Images

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With the Trailblazers, however, he’s gone way past common cost-cutting in business operations to lay off more than 70 employees. Moreover, he’s cut advanced scouts, trimmed athlete services and has almost made a mantra out of wanting to have the lowest-paid head coach in the NBA. It’s one thing to streamline organizational bloat and it’s quite another to go cheap on the coaching staff, two-way players and scouts — what many consider to be “product makers” in basketball operations. If he goes too far on that front, he’ll soon see shrinking revenues from the fans in Portland, especially if he does not seem to take any pride in building a winning team on and off the court.

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The best franchises — and the best owners — in professional sport build fan engagement by making it clear they’re prepared to invest to win. Yes, there’s the former Oakland Athletics and Moneyball, and the Tampa Bay Rays who find ways to win on small payrolls, but they’re the exception to the rule.

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Sport business commentator and marketing executive Tom Mayenknecht is a principal in EMBLEMATICA and the host of The Sport Market on Sportsnet 650 and the Sportsnet Radio Network.

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