From the billionaire revolutionizing women's sports to the barnstorming baseball team now worth $500 million, here are the biggest and most popular sports business stories of 2025.

2025 Shatters Sports Industry Records with Billion-Dollar Milestones

How will we remember 2025 in sports? Maybe as the year that the Philadelphia Eagles ended the Kansas City Chiefs' dynasty, or that the Los Angeles Dodgers cemented one of their own. Maybe it will be Cal Raleigh's 60 home runs that stick with us, or the trade of Luka Doncic, or Coco Gauff's championship run. Maybe it will be Rory McIlroy completing his career Grand Slam-at last-with a masterful run at Augusta National.

But while the action in the boardroom may not quicken pulses quite like what is happening on the field, 2025 featured plenty of financial highlights as well. This year saw a sports talent agency surpass $20 billion in active contracts under management and a team valued at $13 billion for the first time, with 25 women's franchises cracking nine figures-and another WNBA club destined to lead the list next year. Meanwhile, Formula 1's business revved up, particularly at McLaren as Lando Norris raced to a driver's championship, and college football teams spent millions upgrading their premium seating options in a scramble for more revenue to share with their players.

This was also the year that tennis icon Roger Federer became a billionaire, and was joined in the three-comma club by the founders of prediction markets Kalshi and Polymarket. (Legendary college football coach Nick Saban might get there one day soon, too, thanks to a little-known owner of car dealerships.)

Not all of the sports world's ultra-wealthy were so careful with their cash in 2025, however. A sports gambling billionaire launched sales at a home fitness startup that seems unlikely to achieve liftoff, and a different billionaire built a $50 million golf course just so his wife would have a place to "swing like an idiot."

It's tough competition-but here are the best sports business stories from Forbes for 2025.

Inside Michele Kang's Plan To Revolutionize Women's Soccer: 'Not Some Corporate DEI Project'

After selling her health care company, the billionaire owner of the NWSL's Washington Spirit and two other teams is out to prove that women's soccer can compete with the men's game as a real business-and she's willing to spend whatever it takes.

By Justin Birnbaum and Gigi Zamora

Populist Capitalist: How The UFC's Dana White Epitomizes Business In The Trump Era

Donald Trump's genius marketing instincts forged a political movement. Now, his pugnacious style has inspired a more tribal business model, and nobody embodies that better than the UFC's combative chairman.

By Matt Craig

The Savannah Bananas, Baseball's Zaniest Team, Are Now Worth Half A Billion Dollars

The barnstorming organization is generating more than $100 million in revenue-but its yellow-tuxedo-wearing owner, Jesse Cole, is more concerned with chasing a billion fans than a billion-dollar valuation.

By Justin Birnbaum

How The Smashburger Founders' Sports Bar Chain Is Reshaping The Game-Day Experience

Since launching six years ago, Tom's Watch Bar has grown to 18 locations by catering to fans on their way into or out of stadiums, with dozens more sites on the way. Welcome to the best seat not in the house.

By Brett Knight

Inside Rob Gronkowski's Beautiful Mind

Dumb jock? Think again. The four-time Super Bowl champion has turned his larger-than-life personality into a winning brand that earns him an estimated $10 million a year. And he's only getting bigger.

By Justin Birnbaum

How This Hollywood Producer Turned Brad Pitt Into A $40 Million 'F1' Ad

Mercedes, IWC, Expensify and other brands paid millions to sponsor a fictional Formula 1 team in Apple's new F1 movie, which blurs the line between cinema and commerce-and could shape the future of both.

By Matt Craig

The Future Of Women's Pro Soccer Is Being Built In The Heart Of Kansas City

The first stadium ever constructed primarily for a women's club has turbocharged the Current's business and set a new standard for the National Women's Soccer League.

By Justin Birnbaum

Terence Crawford's Knockout Year

After toppling Canelo Álvarez in the fight of the year, the 38-year-old boxing champion has earned more than $100 million in the ring. But even with Warren Buffett in his corner, he decided to hang up his gloves and retire undefeated rather than face the ultimate opponent: Father Time.

By Justin Birnbaum