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Why Owning a Sports Team Is the Ultimate Status Symbol

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Actors Ryan Reynolds and Rob McElhenney bought Wrexham A.F.C. in 2021 for $2.5 million; it’s now valued in the hundreds of millions, with an FX docuseries on Disney+ to match. LeBron James parlayed a $6.5 million stake in Liverpool F.C. into a position within Fenway Sports Group, whose portfolio includes the Boston Red Sox and the Pittsburgh Penguins. David Beckham is a co-owner of Inter Miami CF.

Even on TV, team ownership has become a saucy plotline. In Ted Lasso, Hannah Waddingham plays…

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