Owning a professional sports team has become a more exclusive group.
That point is being hammered home once more during the sale of the NFL's Washington Commanders, the NHL's Ottawa Senators and the NBA's Charlotte Hornets.
Three groups bid on the Commanders, who are in agreement to be sold to one led by Josh Harris for a record $6.05 billion. Charlotte owner Michael Jordan has agreed to sell his stake for $3 billion after paying $275 million for a majority stake in the franchise in 2010. A group led by Canadian businessman Michael Andlauer has entered into an agreement to purchase the controlling interest of the Ottawa Senators for nearly $1 billion, according to reports.