An awesome status symbol for Wall Street financiers is owning a sports team. Imagine the perks that come with the purchase of a sports team: the best seats at every game, hiring authority, cheerleaders, prestige.
For many of these guys, owning a team is the second best thing they can do after they can no longer play on the team.
Take Phil Falcone for example. A leg injury took him, a former hockey player, off the ice for good. But now he has the next best thing: the Minnesota Wild.
He brings his love for the game into the office, too. Harbinger has two funds named after hockey jargon (Blue Line and Breakaway), a conference room named “Blackhawk” and Falcone’s office is named “The Wild.”
Mikhail Prokhorov, the billionaire chairman of Polyus Gold, Russia's largest gold producer, and President of Onexim Group, owns 80% of the NJ Nets.
Prokhorov only recently bought the team in September of last year. Now he's the primary owner alongside part owners Jay Z and Bruce Ratner.
Since then he's been moving forward with plans to build a new arena for the Nets in Brooklyn. The stadium will be called 'Barclays centre.'
Team value: ~$325 million (in 2007)
This season's record: 7-59
Stuart Sternberg, a retired Goldman Sachs trader, owns a controlling stake in the Tampa Bay Rays with two partners, Matthew Silverman and Andrew Friedman.
Team value: ~$290 million (in 2008)
Last season's record: 84-78 (points)
Keith Mccullough, the retired hedge fund manager of Falconhedge who is now the owner of hedgeye.com, doesn't own the Phoenix Coyotes yet, but he wants to.
When we spoke to him a couple of months ago, he thought the deal would finalise closer to March.
Team value: ~$142 million (in 2008)
This season's record: 7-3-0
Stanley Druckenmiller, the billionaire hedge fund manager of Duquesne Capital Management, almost bought a controlling stake in the Steelers in September 2009. Then he bowed out. (Bold text added later - sorry for the error!)
Team value: ~$800 million.
Last season's record: 9-7-0
Ellis Short owns Lone Star Funds, a private equity fund with $24 billion in capital. The American took control of Sunderland in September of 2008.
Team value: Owns 30% stake in Sunderland, which was valued at 10 million pounds ($15 million) in 2006.
This season's record: 7-10-12 (currently in 14th)
Picture: Ellis Short on the right
Phil Falcone, the billionaire hedge fund manager of Harbinger, is a minority owner of the Minnesota Wild.
No surprise there - he's a huge hockey fan. Always has been. He played in high school, on the team at Harvard, and even signed on to play professionally with Malmo (a Swedish team).
Team value: ~$210 million
This season's record: 4-4-2
Tom Hicks co-founded the investment firm, Hicks, Muse, Tate & Furst and is chairman of Hicks Holdings LLC, which owns and operates Hicks Sports Group. Hicks Sports Group is the company that owns the Texas Rangers sold the Texas Rangers in January, owns the Dallas Stars, Mesquite Championship Rodeo and 50 per cent of the English football club Liverpool FC.
Team value: ~$400 million (in 2008)
Last season's record: 87-75 (points)
Jeff Vinik, who runs the Boston-based hedge fund, Vinik Asset Management, bought the Tampa Bay Lightning in early March 2010 for around $110 million.
Team value: $170 million
This season's record: 2-7-1
Joe Lewis, the billionaire owner of the Tavistock Group, also owns the English soccer team, Tottenham Hotspur Football Club.
He's also connected to golf's biggest sports star, Tiger Woods. Lewis is also the real estate developer behind Isleworth, the Orlando community where Tiger Woods lives.
Team value: $243 million
This season's record: 15-7-7 (currently in fourth)
Billionaire financier Lester Crown owns the Chicago Bulls and part of the New York Yankees.
Crown is most famous for running General Dynamics and Henry Crown & Co (Henry is Lester's late father).
Team value: ~$500 million (in 2008)
This season's record: 31-34
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