Kwanza Jones is changing what sports ownership looks like for Black women. She now holds majority control of the San Diego Padres.
Jones and her husband, José E. Feliciano, closed their $3.9 billion deal for the MLB franchise. The purchase also became the most expensive sale in Major League Baseball history.
More importantly, Jones is now the first Black woman to hold majority ownership of an MLB team. Her achievement comes as more Black women gain ownership stakes across professional sports.
Kwanza Jones Makes Her Mark On Major League Baseball
Jones brings an unusual path to one of baseball’s most powerful positions. She graduated from Princeton and earned a law degree from Cardozo.
Before entering sports ownership, Jones also had a career as a Billboard-charting recording artist. She later founded SUPERCHARGED, a media and personal development company.
Now, her focus includes one of baseball’s most valuable franchises. At her introductory press conference, Jones chose jersey number 00. She said the number represents “zero limits.”
She also led the room in a World Series chant. Her message reflected the scale of her new position and her ambitions for the Padres.
Black Women Are Gaining Ground In Sports Ownership
Jones is not alone in this movement. Black women have steadily taken larger roles in sports ownership across several major leagues.
Renee Montgomery is one of the clearest examples. She retired from the WNBA in 2021 after an 11-year career.
She then joined the investor group that purchased the Atlanta Dream. Montgomery became the first former player to serve as both a co-owner and executive.
Her move also showed how athletes can shape the teams and leagues they once played in. Montgomery has credited LeBron James with influencing her decision.
Mellody Hobson Opens A Door In NFL Ownership
Mellody Hobson also holds an important place in this growing ownership movement. She joined the ownership group behind the Denver Broncos in 2022.
The group completed a $4.65 billion purchase of the franchise. Hobson became the first Black woman to hold equity in an NFL franchise.
She joined the group alongside Condoleezza Rice and Lewis Hamilton. Hobson also brings major financial experience to the sports world.
She serves as co-CEO of Ariel Investments and chairs Starbucks’ board. Through Ariel, she later raised $250 million for Project Level.
The fund focuses on investing in women’s sports. That effort gives Hobson another way to support growth beyond traditional team ownership.
Tems And Issa Rae Expand Black Women’s Sports Power
Black women are also gaining ground through soccer ownership. Nigerian singer Tems joined the San Diego FC ownership group in February 2025.
She invested through her company, The Leading Vibe. Her move made her the first African woman to hold a stake in an MLS team.
Her investment also connects African entertainment with professional sports. Tems has said her love for football began while watching her brother play in Lagos.
Meanwhile, Issa Rae has held a stake in San Diego FC since before its 2025 MLS debut. She joined the group alongside Juan Mata and Manny Machado.
As a result, San Diego now has three Black women with stakes in local professional sports teams. Jones owns the Padres, while Rae and Tems hold stakes in San Diego FC.
Candace Parker Put Athlete Ownership Into Action
Candace Parker took another route into sports ownership. She became a part owner of Angel City FC in 2020.
At the time, Parker was still an active WNBA player. She therefore entered ownership before ending her playing career.
Angel City FC has since grown into one of the NWSL’s most valuable franchises. Parker’s move also helped show athletes another path toward long-term influence.
Instead of waiting for retirement, athletes can now build ownership positions during their careers. More players have followed that path into women’s soccer.
Grant Hill Shows How Athlete Ownership Can Grow
Grant Hill has also spent years building a position in sports ownership. He joined Tony Ressler in buying the Atlanta Hawks in 2015.
The group paid $850 million for the NBA franchise. Hill has served as vice chair of the team’s board since then.
The Hawks have grown significantly in value since that purchase. The franchise is now valued at more than $3 billion.
Hill has never publicly disclosed his exact ownership stake. However, he has said Ressler treats him as a partner rather than simply an investor.
Russell Westbrook Joins The Next Generation Of Owners
The ownership movement also includes Black athletes entering sports after their playing careers. Russell Westbrook recently joined Project B as a co-founder.
The former NBA star retired only about a month before taking the new position. He also became the basketball league’s chief strategy officer.
Westbrook received an ownership stake and a seat on the league’s board. His role gives him influence over both business strategy and the league’s future.
His move reflects a larger shift among Black athletes. Many are now looking beyond playing careers and toward ownership, leadership and investment.
Black Ownership In Sports Is Still A Work In Progress
The growth is significant, but the numbers remain uneven. Michael Jordan was the only Black majority owner in modern major sports history for years.
Jordan held that distinction after buying into the Charlotte Bobcats in 2006. He later sold his stake in the Charlotte Hornets in 2023.
During those 17 years, no other Black person held majority ownership in a major professional sports franchise. Jones has now joined that small and important group.
The wider ownership picture remains especially striking in the NFL. More than half of NFL players are Black, yet majority ownership has remained overwhelmingly white.
Black athletes also make up roughly 70 percent of the NBA. However, ownership across the league has not reflected that same level of representation.
A New Sports Ownership Wave Is Taking Shape
Still, the landscape is beginning to change. Black minority owners now hold more seats across NFL franchises than ever before.
Much of that growth has happened during the past two seasons. The new owners also come from different backgrounds.
Former athletes are entering ownership, but they are not alone. Media executives, financiers and entertainers are also investing in professional sports.
For Black women, that shift carries particular weight. Jones, Hobson, Montgomery, Rae, Tems and Parker represent different paths into ownership.
Their investments also point toward something bigger than sports. Ownership creates opportunities to influence decisions, build wealth and shape institutions.
Kwanza Jones now sits at the center of that conversation. Her $3.9 billion Padres deal has given Black women a powerful new example of what ownership can look like.
Her achievement does not stand alone. Instead, it joins a growing list of Black women claiming space on the business side of sports.
