The Cincinnati Reds are owned by Phil Castellini, who took over as principal owner in February 2026.
He succeeded his father, Bob Castellini, who had run the team since buying it in 2006.
Major League Baseball clubs formally approved the ownership transfer on February 12, 2026.
The team said the change was the conclusion of a succession plan that began in July 2024, when Phil was named president and chief executive officer.
Bob Castellini remains involved and will continue his annual spring training visits, with the team noting no health issue prompted the handoff.
Forbes valued the franchise at 1.6 billion dollars in March 2026, up 21 percent from the year before.
A team that once sold for 270 million dollars is now worth billions, and the person steering it just changed for the first time in two decades, so here is everything worth knowing.
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Cincinnati Reds Ownership At A Glance
| Team | Cincinnati Reds |
| Current Owner | Phil Castellini, Principal Owner and CEO |
| Previous Owner | Bob Castellini, Principal Owner from 2006 to 2026 |
| Purchase Price | 270 million dollars in 2006 for roughly 70 percent of the team |
| 2026 Valuation | 1.6 billion dollars, per Forbes |
| Founded | 1881, rooted in the 1869 Cincinnati Red Stockings |
| League | MLB, National League Central |
| Home Stadium | Great American Ball Park, Cincinnati, Ohio |
| World Series Titles | 5 total, most recently in 1990 |
| Ownership Transfer | Approved by MLB owners on February 12, 2026 |
The Castellini Ownership Handoff
The Reds are now controlled by a second generation of the Castellini family, following a gradual, planned transition rather than a sale to an outside buyer.
Principal Owner and CEO Since 2026
Minority Investors Alongside The Family
Cincinnati Reds Ownership History
The Reds trace their roots to the 1869 Cincinnati Red Stockings, widely credited as the first openly professional baseball team.
Ownership has changed hands several times since, according to Wikipedia.
The Cincinnati Red Stockings become baseball’s first openly professional club.
The modern Reds franchise is established as a charter league member.
Marge Schott becomes principal owner, leading the club for the next 15 years.
The Reds sweep the Oakland Athletics to win their fifth World Series title.
Businessman Carl Lindner Jr. becomes the club’s controlling owner.
Bob Castellini leads a group that buys the Reds for 270 million dollars.
Phil Castellini is named team president and chief executive officer.
MLB owners approve Phil Castellini as the Reds’ new principal owner.
How Much Did The Castellini Group Pay For The Reds In 2006
Bob Castellini led an investor group that purchased roughly 70 percent of the Cincinnati Reds in January 2006.
The deal valued the franchise at about 270 million dollars, buying out businessman Carl Lindner Jr., who had been the controlling owner since 1999.
Castellini was no stranger to baseball ownership, having previously held minority stakes tied to the Reds, Texas Rangers, and Baltimore Orioles.
At the time, Castellini declared he was buying the Reds to win, saying anything less would be unacceptable to fans.
According to Wikipedia’s profile of Bob Castellini, the team compiled a losing record across most of his ownership tenure.
Is Castellini Ownership Really Good Or Worth It For The Reds
Financially, the Castellini era has been a clear win for the family, with the franchise value rising from 270 million to 1.6 billion dollars.
On the field, results have been far less impressive. Under Bob Castellini, the Reds posted a losing overall record with limited postseason success.
Fans have frequently criticized ownership for a payroll that rarely competes with baseball’s bigger spenders, despite the team’s rising revenue.
The emergence of young stars like Elly De La Cruz has renewed optimism, and some fans hope Phil Castellini will take a more aggressive approach than his father.
So is Castellini ownership worth it? The investment has paid off tremendously in value, but Reds fans are still waiting for that success to translate into sustained winning.
How Much Is The Cincinnati Reds Franchise Worth In 2026
Forbes valued the Reds at 1.6 billion dollars in its March 2026 rankings.
That figure is up 21 percent from the previous year, reflecting an annualized appreciation rate of about 9 percent since Forbes began tracking MLB values.
The team generated roughly 336 million dollars in 2025 revenue, with operating income of about 26 million dollars.
The Reds still rank among the smaller market franchises in baseball, but their valuation has grown far faster than the 270 million dollar purchase price would have suggested in 2006.
What Is The Castellini Family Net Worth In 2026
The Castellini family’s wealth is tied closely to their ownership of the Reds, now valued at 1.6 billion dollars.
Additional family wealth traces back to the Castellini Group of Companies, a major fruit and vegetable wholesale business Bob Castellini helped lead for decades.
Phil Castellini has spent his career inside the organization, rising from business operations roles to chief operating officer before becoming principal owner.
Exact personal net worth figures for the family are not publicly disclosed in detail, since the Reds remain a privately held franchise.
Great American Ball Park And The Team’s Future Under Phil Castellini
The Reds have played at Great American Ball Park along the Ohio River since it opened in 2003, replacing the old Riverfront Stadium.
Ownership has continued to invest in the ballpark and surrounding riverfront development in recent years.
Phil Castellini has signaled a desire to build on the team’s improved young core, though fans will be watching closely to see if spending habits actually change.
Cincinnati is also home to other major American companies, including Procter and Gamble, one of the largest consumer goods makers in the world.
Is The Cincinnati Reds For Sale In 2026
No, the Reds are not for sale. The February 2026 change was a planned internal transfer to Phil Castellini, not a sale to an outside buyer.
The Castellini family has controlled the team since 2006, and the recent transfer keeps ownership within the family for a second generation.
Questions about who controls a sports franchise are common across leagues, as we covered in our look at who owns the NFL.
Frequently Asked Questions About Cincinnati Reds Ownership
Who Is The Owner Of The Cincinnati Reds
The Cincinnati Reds are owned by Phil Castellini, who became principal owner in February 2026 after MLB approved the transfer from his father, Bob Castellini.
Who Is Phil Castellini
Phil Castellini is the principal owner and chief executive officer of the Cincinnati Reds. He is the son of former owner Bob Castellini and worked his way up through the organization before taking control in 2026.
How Much Did The Castellini Family Pay For The Reds
Bob Castellini’s group paid approximately 270 million dollars in 2006 for roughly 70 percent of the Cincinnati Reds.
Is The Cincinnati Reds For Sale In 2026
No. The Reds remain controlled by the Castellini family, with Phil Castellini now serving as principal owner following the February 2026 transfer.
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