Remember when Steve Ballmer bought the L.A. Clippers for $2 billion and everyone lost their minds?
Eleven years later, stay in town multiply it by five.
Minority owner Mark Walter has purchased a majority stake in the L.A. Lakers at a valuation of $10 billion. That’s a record for any American sports franchise.
The late Dr. Jerry Buss bought the team in 1979 for $67.5 million.
The Buss family had owned 66 percent of the team. Jeannie Buss reportedly plans to continue to continue to serve as the team’s governor, which will give her the power to vote on league matters at NBA ownership meetings.
Earlier this year, the Boston Celtics sold at a valuation of $6.1 billion. Last month, a minority stake in the 49ers was sold at a valuation of $8.6 billion.
It’s safe to say that controlling interest in any NFL team would generate a valuation of more than $10 billion. Some teams (like the Cowboys) would approach or exceed $15 billion.
The fact that the Lakers were sold at a $10 billion valuation will only make that more likely.
Read the full article here
