The air in the San Antonio Spurs’ locker room crackled with a different kind of energy this past December. It wasn’t just the buzz of a promising rookie season for Stephon Castle, or the team’s surprising climb in the Western Conference standings. It was the quiet revelation that their 21-year-old point guard, still navigating his first NBA contract, was also a part-owner of a professional soccer team. Not in Europe, not in a legacy investment, but in Connecticut – a state that, for Castle, had become unexpectedly central to his burgeoning career and now, his future beyond the court. This isn’t just another athlete-turned-owner story; it’s a glimpse into a shifting power dynamic in professional sports, one where generational wealth isn’t a prerequisite for a seat at the table, and where a sense of place can be as valuable as a portfolio of blue-chip stocks.
Castle’s journey to minority ownership of CT United, a Next Pro (MLS’s developmental league) franchise, began almost as soon as he signed with the Spurs last spring. His agent, Joe Smith, and father, Stacey, presented the opportunity – an invitation from Andre Swanston, a rare Black majority team owner in North American professional sports. The timing was unusual. Rookie contracts, while lucrative, don’t typically translate into the kind of capital needed for team ownership. But for Castle, who committed to the University of Connecticut before even finishing junior year of high school and won an NCAA championship with the Huskies in 2024, Connecticut held a pull that transcended mere geography. It was a “second home,” a place where he’d experienced peak athletic success, and a community he felt a genuine connection to.
The story highlights a growing trend: athletes diversifying their investments into other sports, particularly soccer. LeBron James’ early stake in Liverpool in 2011 paved the way for others like James Harden (Houston Dynamo, 2019) and Kevin Durant (Philadelphia Union, 2020, and later Paris Saint-Germain). But Castle’s case is different. Unlike his predecessors, who were established NBA veterans, he’s a rookie, still learning the ropes of professional basketball. This isn’t about cashing in on existing wealth; it’s about a proactive approach to building a legacy, a concept Joe Smith says struck him when he first met Castle in high school. Castle wasn’t focused on immediate gratification, but on long-term impact. He didn’t transfer schools or flip college commitments – a rarity for a top prospect – demonstrating a commitment to building something lasting.
Drawn from NBC News.
Andre Swanston’s vision for CT United is equally unconventional. He isn’t simply acquiring an existing franchise; he’s building one from the ground up, aiming to create a pathway from youth academy to minor league to MLS – a homegrown success story in a state starved for major league representation. Connecticut, Swanston points out, is the most densely populated, affluent market in America without a team in one of the “big five” sports leagues, funneling an estimated $1 billion annually to New York and Boston. He sees CT United as a way to recapture that economic energy and cultivate a passionate local fanbase, evidenced by the team’s intentional local branding – eight wolf’s tails in the logo representing each county, a jersey designed by a Bridgeport company, and a “barnstorming” tour of home games across the state. This isn’t just about soccer; it’s about community investment.
Swanston’s ambition extends beyond the field. He’s acutely aware of the lack of diversity in sports ownership, noting that MLS doesn’t even track demographic data on ownership groups. He believes the current valuation model, requiring single families to amass billions, hinders minority representation. His solution? Pooling resources – “four groups worth $2 billion instead of one” – to open doors for more diverse ownership. He also acknowledges the growing trend of athletes taking minority stakes, predicting a surge in 1-10% ownership as a stepping stone to greater representation. Stephon Castle’s involvement, Swanston emphasizes, wasn’t about his soccer expertise, but his proven ability to win and his connection to Connecticut. Castle himself admits the lack of Black ownership factored into his decision, but ultimately, it was the opportunity to build something from the ground up that resonated most.
Castle keeps CT United jerseys and a scarf at his Texas home, a tangible reminder of his investment. He envisions building relationships with the players, many of whom are close to his age, but for now, his focus remains on the Spurs’ unexpected championship run. Yet, he’s already looking ahead, hinting at future investments in professional sports. The question now isn’t if more athletes will follow suit, but how leagues will adapt to accommodate this new wave of ownership, and whether they’ll actively address the systemic barriers that continue to limit diversity at the highest levels of professional sports. Will MLS, and other leagues, proactively change valuation models to encourage broader ownership, or will the current landscape continue to favor established wealth, leaving the promise of a more inclusive future on the sidelines?
