This chapter explores the concept of ownership from a moral perspective. It recognises that in addition to having a factual (as in legal) component, ownership in sport also takes in normative ideas that pose a broad range of ethical issues. I will argue that this moral perspective on ownership in sport is ultimately tied to philosophical questions about what constitutes the ‘the good life’. What aspect of sport is said to be owned, by whom, and in what ways impact sporting structures and the agency of those involved in a significant way. There is no doubt that different forms of sporting ownership can help or hinder some but not all to realise a range of biophysical, social, economic and political goals to a greater or lesser degree. I argue that, for sport the critical tension from a moral point of view is grounded in the difference between individual (personal) and collective (social) ownership. This moral tension is explored in greater detail by presenting two common moral approaches to ownership. The first explores ownership in sport from a rights-based approach. The second and preferred approach is grounded in virtue ethics and argues that ownership should be understood as a communitarian moral concept. This collective approach to ownership in sport is justified in terms of achieving utilitarian good.