Drake Throws Hint that He Wants to Own the Raptors
After completely dominating the music, fashion, and film, forming Canadian teen star turned International rap megastar Drake has set his eyes on the world of sports.
About five years back, the superstar rapper Aubrey Drake Graham was made the global ambassador for his favorite basketball team as a child, the Toronto Raptors. Now that he has attained new heights of superstardom, it seems being a global ambassador isn’t quite enough for him. Just has his fame has risen, so also has his ambition for his involvement with the team.
At 5’11.75, the chances of anyone seeing the Toronto-born rapper on an NBA team are slim. This doesn’t mean he can’t own one though. According to a report, the rapper took to his Instagram account on Thursday evening where he posted a picture of himself in front of the Raptor’s logo with the caption “future owner.”
No one knows if he’s being serious or if he’s just “stunting for the gram,” either way, it’s fun to speculate.
"That shit would be so raw please do it," commented Chicago's Chance The Rapper on Drake's Instagram post that Thursday night.
"I got a GM," wrote American businessman (and LeBron James' best friend) Maverick Carter. "Let's get it!!!"
It’s no secret that Drake has always been a major fan of the sports. However, it’s a huge leap from fan to owner and while it’s a great ambition, particularly for someone like him who has supported the team his whole life, the truth is it’ll require a lot more than just fame – like capital and other external factors – to achieve this.
As of 2018, Drake was reported to be worth $100 millionand although that is more money than most people would see in their life, it’s not enough to buy a Sports team.
The franchise value of the Toronto Raptors has been estimated by Forbes to be worth $1.4 billion back in February. So while there’s no doubt that Drake is filthy rich, he’s still nowhere rich enough to afford a sports team.
The term “owner” is relative so there may be some hope for the Canadian rapper. Various stakeholders who hold different percentage of the team’s shares own most NBA teams. The prevailing theory among fans way back was that Jay X owned the Brooklyn Nets. In reality, he owned about 2% of the Brooklyn Nets before he decided to sell his shares back in 2013.
So if Drake is serious about owning the Raptors, he’ll have to convince one of the three shareholders of Maple Leaf Sports and Entertainment to sell their shares to him. MLSE is split in three between Bell Canada, Rogers Communication, and Larry Tanenbaum’s Kilmer Sports. The other way is to become a major shareholder at MLSE and take ownership from there.
Either way, he’s going to need the help of some like-minded millionaires if he’s going to want to buy any sports franchise because as it stands, his money alone just can’t cut it.