Beyoncé Might Buy (Part of) a Basketball Team
Beyoncé’s next investment might be in her hometown.
In addition to her career has world conquering pop star, Beyoncé also has that athleisure line Ivy Park, her Parkwood management and entertainment brand, an impressive array of perfumes and a share in Tidal. Yet, she’s still looking to widen her portfolio of business interests and may look to the world of professional sports next. According to a report from Bloomberg, she’s interested in buying an interest in her hometown NBA team the Houston Rockets.
The reported details seem pretty speculative and sources say that Beyoncé is just “mulling over” the possibility at the moment, but the report does come as the team’s current owner, Les Alexander, is looking to sell and cash in on the team’s growing value. He bought the team in 1993 for a “mere” $85 million, and may very well end up selling it for over $2 billion.
Beyoncé’s bank account certainly isn’t hurting, but she doesn’t quite have that kind of money to casually throw around. So, she’d likely have to team up with a group of other investors to purchase the team.
Certainly, though, any savvy business person would want the singer, a hometown hero, involved in their bid for the team. Beyoncé has been open about being a fan throwout her career. She gave a tip to the team in the lyrics to her single “Countdown,” has sported Rockets gear on stage, in videos and on the streets, and she’s been spotted front row at Rockets games before.
She also wouldn’t be the only celebrity with a minority ownership in a sports team. Justin Timberlake has a stake in his hometown Memphis Grizzlies. The Miami Dolphins myriad of random celebrity minority investors include Gloria Estefan, Fergie, Venus and Serena Williams, Jimmy Buffet, and Marc Anthony (while Pitbull is reportedly interested in nabbing a stake in the Miami Marlins). Will and Jada Pinkett Smitt have a small stake in the Philadelphia 76ers.
Beyoncé’s path to an ownership stake is complicated a bit by another celebrity who previously owned an NBA team. Ironically, it’s the celebrity she’s married to. Jay Z previously owned a very small stake in the Brooklyn Nets, but in 2015 the NBA adopted what the press quickly called “The Jay Z Rule,” mandating that all investors had to own at least 1 percent of a team. To be clear, the rule wasn’t adapted because of Jay Z but he was one of the most notable minuscule co-owners in the league. That means Beyoncé could have to pony up somewhere around $20 million (give or take a few millions depending on the ultimate actual sales price) to get access to the owners’ box.
Related: Rihanna Maybe Heckled Kevin Durant During the NBA Finals
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Beyoncé, Rihanna, Kendall Jenner and More Celebrities Wearing High Heels at Basketball Games
Beyonce wore Gianvito Rossi boots with a Jacquemus skirt while attending The 67th NBA All-Star Game: Team LeBron Vs. Team Stephen at Staples Center on February 18, 2018 in Los Angeles, California with her daughter Blue Ivy and mother Tina Knowles.
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In a “Dior Addict” graphic tee paired with vintage Levi’s jeans — both from What Goes Around Comes Around — and Yeezy-inspired clear boots, Kendall Jenner channeled Rihanna a basketball game between the Memphis Grizzlies and the Los Angeles Lakers.
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