Lakers Sold for $10 Billion, Setting Record in Sports

The Los Angeles Lakers, a basketball dynasty, are changing hands in a deal valued at $10 billion. This historic transaction, marking the highest valuation ever for a sports franchise, signifies a pivotal shift in sports ownership, reshaping how major teams are managed and controlled.

A Record-Breaking Sale

The Lakers’ sale is a landmark event. Majority ownership is transferring from the Buss family to an investment group. This move underscores the increasing value of top-tier sports teams, transforming them into prime assets beyond the reach of individual owners.

Lakers to be sold to Dodgers owner at $10bn valuation, per reports URL

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“The best properties have become too valuable an asset class for people like Jeanie Buss to control them.”

—Source

The shift towards institutional investors is evident across the sports world, driven by escalating team valuations. Forbes’ estimates indicate that the average value of an NBA team has surged to $3.85 billion in 2024, reflecting a 12% increase year-over-year (Forbes, 2024).

Changing Ownership Models

The Buss family, who acquired the Lakers in 1979, have traditionally run the team as a family enterprise. However, as cable bundles decline, major sports teams are increasingly owned by consortiums of investors and institutions. The Lakers have already begun this transition, with a quarter stake sold to a group led by Mark Walter in 2021.

Walter‘s group, which controls the Dodgers, took control of the WNBA’s Los Angeles Sparks. Leagues have eased the entry of institutional investors, particularly as long-time owners seek to secure their family’s wealth through cash sales, rather than team ownership.

This ownership transition may benefit Lakers fans, as Walter‘s group has a strong track record. While the Lakers may face challenges, their prominence in Los Angeles and the enduring popularity of basketball suggest continued growth. This trend raises questions about the future of teams that do not have the same advantages.