While buying a professional‑sports franchise often makes headlines, the real story is how owners manage the day‑to‑day finances. Recent analysis from Bodog identifies five owners who, despite paying billions for their teams, run them on budgets far below what the clubs could reasonably support.
Portland Trail Blazers – Tom Dundon
Tom Dundon, who spent roughly $4.25 billion to acquire the Portland Trail Blazers, immediately began cutting costs. Since taking control, he has laid off about 70 staff members, reduced travel expenses, overhauled the broadcast crew, and eliminated the free playoff T‑shirts that many NBA teams provide. Dundon’s approach shows that a billionaire purchase does not automatically translate into lavish spending.
Pittsburgh Pirates – Bob Nutting
Bob Nutting has owned the Pirates since 2007. In 16 of the last 19 seasons the club ranked in MLB’s bottom five for Opening Day payroll. The 2025 payroll was $86.5 million, 26th of 30 teams, while Forbes values the franchise at $1.62 billion. MLB even sent an executive to Pittsburgh in 2023 to press Nutting on revenue‑sharing money the league felt was not being reinvested in the roster.
Manchester United – The Glazer Family
The Glazer family financed their 2005 takeover of Manchester United with a leveraged buyout that left the club with more than £700 million in debt. In the 2023‑24 season the club generated $835 million in revenue but only $186 million in earnings before interest, taxes, depreciation and amortization. Between 2015 and 2019 the family extracted roughly £90 million in dividends rather than reinvesting in the football operation. Today United is valued at about $6 billion, yet the owners treat it more like a debt‑servicing asset than a community‑focused club.
Miami Marlins – Bruce Sherman and Derek Jeter
When Bruce Sherman and Derek Jeter bought the Marlins for $1.2 billion in 2017, they announced a plan to “gut the roster,” which included trading away star Giancarlo Stanton. By the 2025 season the Marlins posted the lowest payroll in MLB, while Forbes values the franchise at $1.5 billion. Sherman has repeatedly claimed the money is being directed toward infrastructure rather than player salaries, a narrative fans have heard every year since the purchase.
Oakland/Las Vegas Athletics – John Fisher
John Fisher’s ownership of the A’s produced one of the most vocal fan revolts in recent sports history. Payrolls sank to the $50‑$80 million range for several years, even as the team prepared to relocate first to a new stadium in Oakland and later to Las Vegas. The relocation deal boosted the franchise’s value to $2 billion, meaning the ownership’s net worth grew while on‑field performance declined.
Chicago Bulls & White Sox – Jerry Reinsdorf
Jerry Reinsdorf stands out for applying the cheap‑owner playbook to two franchises in America’s third‑largest market. The Bulls, valued at $6 billion, have paid the NBA luxury tax only once (in 2012‑13) despite promises from his son and executives to spend into the tax for a genuine contender. The White Sox, a $2 billion franchise, cut payroll from $181 million in 2023 to roughly $74‑$80 million by 2025. Both cuts were strategic choices, not forced rebuilds.
What the Numbers Reveal
Spending less does not guarantee championships, as the Los Angeles Dodgers demonstrated by spending a record $515 million in 2025—including a $169.4 million luxury‑tax bill—and winning back‑to‑back World Series titles. Conversely, the New York Mets spent over $375 million, the second‑highest total in baseball, yet missed the playoffs entirely. The contrast underscores that heavy payrolls alone do not ensure success; smart roster construction matters.
Why Franchise Values Keep Rising
Even when owners run teams on shoestring budgets, franchise values continue to climb. National media contracts, revenue‑sharing agreements, and the scarcity of professional‑sports slots mean a team’s market value can increase regardless of on‑field results. The A’s, for example, became more valuable because they were leaving Oakland, not because they improved competitively.
The Bottom Line for Fans
Every owner on this list could afford to spend more than they currently do. The true measure of a “cheap” owner is the gap between what a franchise can reasonably afford and what the owner is willing to invest. While fans may resent the frugality, the financial math often rewards owners who keep payrolls low while franchise valuations soar.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
