Drake Says He Wants To Own The Raptors, Here's Why It'll Likely Never Happen
Drake may love the Raptors, but buying them isn't something he can do quite yet.
We all know Drake loves the Raptors. He’s been the global ambassador for the team for about half a decade and can often be seen on the sidelines of games cheering the team on.
His fandom for the team extends beyond that of usual fans though, according to a recent Instagram post he wants to own the team.
However, the likelihood of that ever happening is next to impossible for a very simple reason.
@champagnepapiDrake’s Instagram post shows him in front of a Raptors logo with the caption, ‘future owner.’
But, Drake has an issue right now which prevents him from buying Toronto's basketball team - according to his approximate net worth, he’s too poor.
That's something you don’t hear people say about Drake very much.
Drake is currently worth about $100 million, certainly nothing to turn your nose up at. He’s undoubtedly been very successful in his career.
However, the Raptors are worth around $1.4 billion dollars, well outside of Drake’s current price range.
Even if he did somehow manage to increase his wealth by over 10 times he’d also have to convince Maple Leafs Sports and Entertainment (MLSE), who control every major sports team in the city except the Blue Jays to sell the Raptors to him.
The companies that currently hold control of MLSE are Rogers, Bell and Kilmer Sports, the last of which is owned by billionaire Larry Tanenbaum.
It’s incredibly unlikely they’d sell their stake in the company to him even if he had the money because MLSE is so profitable for each of them.
@maria_tumblr1Drake's only way to own part of the Raptors is to get a bunch of other multi-millionaires together to buy the team as a group. Even then, Drake would only own a percentage of the team, not the team as a whole.
And even that's very unlikely because none of the groups controlling MLSE have expressed any interest in selling.
Source: Sportsnet