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US team owners' wealth grown by 30% during pandemic

Since the beginning of the pandemic (March 2020), 64 owners across all four major US sports leagues have seen their combined net worths increase from US$325 billion to US$426 billion.

US team owners' wealth grown by 30% during pandemic

The findings come after a collaborative study by the Institute for Policy Studies and Americans for Tax Fairness that tracked the net worth of team owners from March 18, 2020 to January 29, 2021.

The reports pointed out the owners of the two Super Bowl teams, the Tampa Bay Buccaneers and the Kansas City Chiefs.

The Buccaneers, owned by the Glazer family, were listed with a net worth of US$1.7 billion, whereas the Hunt family, owners of the Kansas City Chiefs were reported as having a net worth of US$6.3 billion - a US$483 million increase in the past 10 months.

The Glazer family are well-known to be the owners of business real estate company First Allied Corporation, alongside Premier League outfit Manchester United. The Hunt family is involved in the oil and gas business, alongside other professional sports teams.

A separate economic study conducted and released in December revealed that globally, billionaires' collectives net worth grew by $3.9 trillion in the final nine months of 2020.

Author: Jake Wilkin