The family-owned Los Angeles Lakers are about to be sold at a valuation of $10 billion, smashing the previous record for the purchase price for a team sport. The cross-country rival Boston Celtics went for $6.1 billion just three months ago.
The family-owned Los Angeles Lakers areabout to be soldat a valuation of $10 billion, smashing the previous record for the purchase price for a team sport.
The cross-country rival Boston Celtics went for $6.1 billion just three months ago.
With team values soaring, there have been a number of notable franchise transactions in recent years:
Los Angeles Lakers
The Lakers havebeen in the Buss family since 1979, but Jeanie Buss has agreed to sell the NBA’s most valuable franchise to L.A. Dodgers owner Mark Walter.
Boston Celtics
The Celtics, who won their record 18th NBA championship last year,went for $6.1 billion in Marchto private equity mogul Bill Chisholm.
Washington Commanders
Josh Harris, who with David Blitzer owns the NBA’s Philadelphia 76ers and NHL’s New Jersey Devils, added to his sports portfolio in 2023 by purchasing the Commandersfor a then-record $6.05 billion.
Chelsea
The English Premier League team went to a consortium fronted by Dodgers part owner Todd Boehly that also includes Walterin 2022 for $3.2 billion. Another $2.2 billion was pledged for infrastructure and associated teams.
Denver Broncos
The Walton-Penner ownership group led by Walmart heir Rob Waltonbought the NFL teamin 2022 for $4.65 billion.
Phoenix Suns
Mortgage executive Mat Ishbiapurchased the teamfor a then-NBA record $4 billion in 2022.
Dallas Mavericks
Mark Cubansold the NBA franchisein 2023 for $3.5 billion to the Adelson family, which owns the Las Vegas Sands casino company.
Charlotte Hornets
Michael Jordan agreed to sell hismajority share in the NBA’s Hornets in 2023for $3 billion to Rick Schnall and Gabe Plotkin. Schnall had a minority ownership in the NBA’s Atlanta Hawks and Plotkin in the Hornets.
The Associated Press