The valuation of sports teams for the big 4 (and especially big 3 in terms of big numbers) has skyrocketed. It is quite possible from here on out that no NBA or MLB team will be sold for less than $1B total valuation. And no NFL team for under $2B. It’s a lot for individuals to pay. It’s rare for teams to be owned by companies or funds like the NBA’s Toronto Raptors. But even that holding company has one guy owning a third of it. Or NFL’s Green Bay Packers being a public company.
Most leagues also have requirements for how much of the team can be paid for with debt, loans, etc. For a perspective on how crazy the skyrocketing valuations are, NBA and MLB teams outside major markets were going for under $500M and NFL teams for way under $1B. Major market teams were still going for a lot like NFL’s Washington DC Redskins went for over a billion 20 years ago, but even just five years ago the NBA’s Milwaukee Bucks went for around $500M. Now that they have a new stadium, sometimes that stuff is conditional on the purchase, their value has probably doubled (along with currently being a championship contender with an MVP superstar entering his prime).
At this point, almost no individuals can take on a whole team purchase on their own. Or be able to pay up a higher price on their own. Exceptions are also people wildly richer than most owners like Steve Ballmer who’s around top 15 richest people and paid handsomely for the NBA’s LA Clippers, though he will also profit off it as well. Many, if not most, current big 3 majority owners would not be able to afford their own team if you looked at their net worth outside the team.