This chapter, using the management perspective of stakeholder theory, examines a range of sport mega events (SME) stakeholders, their stake and their ‘ownership’. From an SME’s concept phase, through to its completion, and even post the event, this ownership is not confined to a single stakeholder group, nor are owners equal in status and power or even constant across the event’s lifespan, however all have a stake in the success or otherwise of the SME. Ownership swells when many stakeholders claim it when the event is a success. Conversely SME ownership shrinks and the finger of blame is pointed at other stakeholders when things go wrong. The locus of SME ownership ranges from tangible, contractual ownership to a plethora of perceptual cultural stakeholders who recently have used their power to deny contractual owners the right to stage the SME in their host nation or city.