Cheapest Pro Sports Team by Purchase Price
The cheapest major North American pro sports team by recent purchase price is the Charlotte Hornets, acquired by a group led by Gabe Plotkin and Rick Schnall for approximately $3 billion in 2023, according to public transaction reports and team filings. This price is well below the median NBA franchise value, which is around $3.3 billion, and far below the most expensive teams such as the New York Knicks and Los Angeles Lakers, which are valued above $6 billion. The Hornets were previously owned by Michael Jordan, who sold the franchise at a loss relative to his 2000 purchase price, making this a rare case of a pro team sold below its prior valuation.
In global soccer, lower-cost club acquisitions occur in smaller leagues, but the cheapest recent high-profile purchase is the San Diego FC MLS expansion team, which was sold for a reported $500 million expansion fee to a group led by Eli Manning and others in 2023. This fee is the lowest among recent major North American pro sports franchise sales, and it reflects the MLS expansion model rather than an existing team sale. For context, the cheapest NFL, NBA, NHL, and MLB teams typically cost between $2 billion and $4 billion, while MLS expansion fees have historically been much lower, making San Diego FC the cheapest current pro sports team entry by upfront capital.
Lowest Valued Pro Sports Teams by Current Forbes and Public Estimates
The lowest valued team in Forbes' latest NFL valuations is the Buffalo Bills at approximately $4.2 billion, while the cheapest NBA team is the Charlotte Hornets at around $3 billion, and the cheapest MLB team is the Pittsburgh Pirates at roughly $3.7 billion. In the NHL, the Arizona Coyotes, before their relocation and sale, were consistently the lowest valued team, and the current cheapest NHL team is the Columbus Blue Jackets at around $1.05 billion. These valuations are based on enterprise value, which includes debt, and they reflect the gap between small-market teams and large-market franchises in the same league.
The cheapest MLS team by current valuation is San Diego FC, which is valued at around $500 million due to its recent entry, while the cheapest existing MLS team is the San Jose Earthquakes at roughly $600 million. In soccer globally, clubs in lower divisions of leagues such as England's EFL League One or Spain's Segunda División are valued at tens of millions of dollars, but these are not top-tier pro teams. The cheapest top-tier pro sports team by public valuation in North America remains the Charlotte Hornets or San Diego FC, depending on whether you count expansion fees as team value.
Operating Costs and Revenue of the Cheapest Pro Sports Teams
The cheapest pro sports teams also tend to have the lowest operating revenue and smallest media deals. The Charlotte Hornets generated an estimated $310 million in revenue in the most recent NBA season, while the Buffalo Bills generated roughly $550 million, according to Forbes and team financial disclosures. Small-market MLB teams like the Pittsburgh Pirates and Tampa Bay Rays have payrolls well below the league median, with the Rays spending less than $70 million on player salaries in recent seasons, making them one of the cheapest teams to operate relative to revenue.
Operating cost differences are driven by local media rights, stadium deals, and market size. The cheapest teams often play in publicly funded or shared stadiums and have smaller local TV contracts, such as the Hornets' deal with Bally Sports Southeast, which is below the NBA average. For investors, buying the cheapest pro sports team can offer a lower barrier to entry, but revenue growth depends on stadium upgrades, winning, and media rights negotiations. More details on sports franchise valuations and operating costs can be found on Forbes' sports finance section