Nearly five years ago to the date, rap superstar Aubrey Drake Graham became the global ambassador for his childhood basketball team, the Toronto Raptors.
But time flies, and as Drake’s star has only risen to greater heights in the time since he was given that title with the Raptors, so too, it would seem, has his ambitions with his involvement with the team.
Taking to Instagram Thursday evening, Drake posted a photo of himself posing in front of the Raptors logo with the caption “future owner.”
It’s a cool ambition, particularly for a guy who has been a lifelong fan of the team, but the reality is if Drake wants to make this happen he’s going to need a lot of external factors go his way, and a lot more capital – like, a lot, a lot.
First off, if he’s to be the owner of the Raptors, Drake will either have to convince Maple Leaf Sports & Entertainment, an organization that’s split in three between Rogers Communications, Bell Canada and Larry Tanenbaum’s Kilmer Sports, to sell their stake in the team to him, or become a major shareholder of MLSE and take ownership through that method.
Either way, Drake’s going to need a lot more cash on hand than the $100 million that Money magazine reported his net worth was in late June.
According to Forbes, the Raptors’ franchise value was worth an estimated $1.4 billion back in February, so even though Drake is undoubtedly filthy rich, the price of a sports franchise still way out-prices him.
If he eventually wants to become the owner of the Raptors, or any other sports team for that matter, Drake’s likely going to have to partner up with a number of fellow millionaires as part of a group that’s looking to buy a sports franchise.
At this very moment, however, this is just a dream Drake’s money can’t buy – yet.