From a business perspective, it has to be great to own a professional sports franchise. No matter how bad the team is, thanks to revenue sharing and some ridiculous television contracts, the value of the worst teams still rises, thanks to the overall success of the league. So for 24-Hour Fitness co-founder Mark Mastrov, it has to be great to be a part owner of the Sacramento Kings, even though they have been one of the worst teams in the NBA for the last decade.
However, from a sports fan's perspective, it has to be kind of a bummer for the team you are a part owner of to suck year in and year out. Fans don't care about respecting the personal space of owners and players anymore. So when another bad season ends and your team fired another head coach (like the Kings have), it may be nice to be able to get away from it all in your incredible home overlooking Lake Tahoe and hidden from prying eyes in the woods.
For $35 million, you can have just such a place: Mastrov's get-away. If you are worried about becoming large as you live large in this 14,000 square foot home – well, don't. If climbing these stairs doesn’t help you burn a few calories, maybe the basketball court, three-hole golf course with a practice green, swimming pool, 13.6 acres that are a hiker's dream, and two gyms (one of which is located off of the master suite) will help you keep trim.
Table of Contents
- The Business Perspective of Sports Franchise Ownership
- The Fan Perspective
- Living in Luxury: Mastrov's Lake Tahoe Getaway
- Final Thoughts on Sports Ownership
The Business Perspective of Sports Franchise Ownership
Owning a professional sports franchise is often seen as a lucrative investment. The financial benefits of being part of a league can outweigh the losses from a poor-performing team. With revenue sharing and lucrative television contracts, the value of franchises continues to rise, creating a sense of security for owners like Mark Mastrov. It’s a unique avenue to invest in a business that, despite its on-field performance, remains valuable.
Investing in a sports team offers more than just financial returns. It opens doors to exclusive networking opportunities and a chance to be part of a community that shares a passion for the sport. The prestige associated with owning a franchise can also enhance one's personal brand, making it an appealing venture for wealthy individuals.
The Fan Perspective
While the business side is enticing, being a fan of the team you own can be challenging. When the team consistently underperforms, it can dampen the joy of ownership. Fans often express their frustrations openly, placing pressure on owners to make changes, such as hiring and firing coaches. This dynamic creates a unique tension between business decisions and fan expectations.
Owning a franchise means navigating this tricky landscape, where the loyalty of fans can be tested by poor performances. As an owner, Mastrov must balance his business interests with the passion of the fans, who are less concerned with profits and more focused on their team's success.
Living in Luxury: Mastrov's Lake Tahoe Getaway
For Mark Mastrov, one way to escape the pressures of team ownership is to retreat to his stunning Lake Tahoe home. Valued at $35 million, this luxury property boasts 14,000 square feet of space, offering plenty of room for relaxation and recreation. With facilities like a basketball court, a golf course, and two gyms, it’s a dream getaway for any sports enthusiast.
The house is designed for both entertainment and solitude, featuring a dining room with breathtaking views of the lake, perfect for hosting friends. The master suite provides an oasis with its raised ceilings, fireplace, and private balcony overlooking the serene landscape. For guests, the property includes a guesthouse and multiple suites, ensuring everyone has a comfortable stay.
Final Thoughts on Sports Ownership
Owning a sports franchise is a blend of business acumen and emotional investment. While the financial perks are significant, the personal stakes can be high, especially when the team struggles. Mark Mastrov's experience with the Sacramento Kings highlights the duality of sports ownership: the thrill of investment coupled with the heartache of fan disappointment. In the end, the blend of business and joy is what makes sports franchise ownership a unique journey.
