Arsenal owner Kroenke takes total US franchise spend this summer to £23bn
Nearly £23bn of US sports franchises were sold across the summer after Arsenal owner Stan Kroenke purchased the Los Angeles Angels. The surprise purchase – a MLB record at £2.97bn – ended a summer of spending across North America which included basketball, NFL and women’s football. Kroenke’s sporting portfolio now puts the Angels alongside Premier [...]
In a record-breaking summer of sports franchise acquisitions, Arsenal owner Stan Kroenke has spent nearly £23bn (£30bn in US dollars) on US sports teams. The surprise purchase of the Los Angeles Angels, a MLB record at £2.97bn, added to Kroenke's already impressive portfolio, which now includes Arsenal, the LA Rams NFL franchise, the NBA's Denver Nuggets, and ice hockey teams Avalanche, Rapids, and Mammoth.
The summer saw the sale of the LA Lakers for £9.27bn to Bob Iger and Josh Kushner, as well as the Super Bowl-winning Seattle Seahawks for over £7bn to a group led by Vinod Khosla. Minnesota Timberwolves and Atlanta women's soccer franchise were also sold for £3.34bn and £122m respectively. In total, nearly £22.8bn (£30bn in US dollars) was spent on US sports franchises, potentially rising to nearly £24bn with approved investments.
Kroenke also recently became the United States' largest land owner with the purchase of almost 1 million acres of New Mexico, bringing his total holdings to 2.7 million acres. The Los Angeles Angels will face the New York Yankees tonight.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
