right now is Mike Ozanian. Mike is a sports business reporter for CNBC. We had Mike on the show

multiple times during the sale process of our football team during that year and a half.

And he was always incredibly helpful and interesting. And I read what Mike put together with

CNBC this morning, ranking sports empires, the top 20 in the world for the year 2025. And

I thought this was an interesting topic for a number of reasons. And Mike joins us right now.

First of all, before we get to some of these individual, you know, empires, two of which, by the way,

are run by two local sports owners here in D.C. This is right, not a list about the wealthiest of owners, but the

richest portfolios of sports teams owned. Just explain what this list is even beyond that,

and certainly add to that if I didn't get it right. No, Kevin, you got it exactly right.

What this list does, it takes those individuals or companies,

and we analyze and value the sports portfolio of all their teams and sports related businesses.

To qualify for the list, though, you have to be a controlling owner of at least one

sports team worth a billion dollars or more.

So, for example, TKO Holdings, which is the publicly traded vehicle for which

WWE and UFC, the mixed Mark Shorts Enterprise trade on the stock exchange, is not eligible

for the list, even though it has a valuation above $15 billion.

That's because there's no sports team involved.

So the reason why we looked at this and have done this at CNBC is because over the last

few years, there's been a trend of people owning more than one sports team, as well as a lot of

different types of sports assets that they can utilize with their sports team holdings.

Those sports team properties could be things like a regional sports network,

such as the case with the Yankee Global Enterprises and the S network, or Ted Leonsis,

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