They were not Billionaires because they owned a franchise... they were Billionaires BEFORE they bought the team....
If a team is losing money... it can actually be GOOD for the owner if that business loses money, while his other business thrive...
Lower taxes paid to the Tax man.
And you can bet, several companies are set up, one for ticket revenue, one for concessions, one for parking etc etc etc...
So if one loses, it equals PROFIT!
Again less tax to the tax man.
G