Sports franchises refer to professional sports teams or organizations that operate under a shared brand and business structure, typically within a specific league or association. Each franchise is independently owned but adheres to the rules and regulations set forth by the governing body of the league, including financial frameworks, player conduct, and competition guidelines. Sports franchises are often identified by their city or region and have dedicated fan bases. They may engage in various activities, including marketing, merchandise sales, and community initiatives. The franchise model allows for economic success while providing a platform for competition and entertainment in professional sports.