LA Lakers join list of teams being sold at ever-escalating prices
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.
With team values soaring, there have been a number of notable franchise transactions in recent years:
The Lakers have been 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.
The Celtics, who won their record 18th NBA championship last year, went for $6.1 billion in March to private equity mogul Bill Chisholm.
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 Commanders for a then-record $6.05 billion.
The English Premier League team went to a consortium fronted by Dodgers part owner Todd Boehly that also includes Walter in 2022 for $3.2 billion. Another $2.2 billion was pledged for infrastructure and associated teams.
The Walton-Penner ownership group led by Walmart heir Rob Walton bought the NFL team in 2022 for $4.65 billion.
Mortgage executive Mat Ishbia purchased the team for a then-NBA record $4 billion in 2022.
Mark Cuban sold the NBA franchise in 2023 for $3.5 billion to the Adelson family, which owns the Las Vegas Sands casino company.
Michael Jordan agreed to sell his majority share in the NBA's Hornets in 2023 for $3 billion to Rick Schnall and Gabe Plotkin. Schnall had a minority ownership in the NBA's Atlanta Hawks and Plotkin in the Hornets.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
34 minutes ago
- The Hindu
Kevin Durant becomes latest American star to own minority stake in European football
NBA star Kevin Durant has purchased a minority stake in Champions League winner Paris Saint-Germain, the French club said on Friday. Qatar Sports Investments, PSG's majority shareholder, signed an investment and strategic partnership agreement with Durant, a two-time NBA champion, the club said in a statement The 36-year-old Phoenix Suns forward is one of many U.S. athletes — NBA and NFL stars in particular — to invest in European football (via direct club stakes, through consortia). NBA superstar LeBron James, back in 2011, acquired a minority stake in Liverpool FC, while legendary quarterback Tom Brady became a minority owner of Birmingham City in August 2023. Here are prominent NBA and NFL stars who hold minority stakes in European football clubs: JJ Watt (NFL) - Burnley Tom Brady (NFL) - Birmingham City Russell Westbrook (NBA), Golfers Jordan Spieth and Justin Thomas (49ers Enterprises) - Leeds United LeBron James (NBA) - Liverpool Kevin Durant (NBA) - Paris St. Germain (PSG) Jason Kidd (NBA coach) - Everton FC
Time of India
an hour ago
- Time of India
Patrick Mahomes, Caitlin Clark among stars expected at NBA Finals Game 7 as Oklahoma City Thunder and Indiana Pacers battle for historic first-ever championship
Image via Getty Images Oklahoma City will be the center of the basketball universe this Sunday, as the 2025 NBA Finals return to Paycom Center for a winner-take-all Game 7. But while the Pacers and Thunder battle for their first-ever NBA title, the spectacle won't be limited to the hardwood. Over the past six games, the Finals have turned into a hotspot for celebrities, legends, and cross-sport royalty—and the buzz for Game 7 is already reaching Hollywood red carpet levels. Expect the biggest night in basketball to double as one of the most star-studded events of the year. Celebrities, athletes, and legends who've shown up at the NBA Finals—and the star power expected at Game 7's must-see showdown This year's Finals haven't just delivered drama on the court—they've doubled as a star-studded affair, with celebrity sightings becoming part of the nightly routine. Among the names already spotted: rapper Lil Yachty , actor and former NFL player Terry Crews , and Pat McAfee , who's as comfortable on the WWE mic as he is behind a sports desk. The roster continues with NBA personalities like Kendrick Perkins , Pacers legend Reggie Miller , and international Hall of Famer Dirk Nowitzki , all showing up to witness the two franchises' historic runs. WNBA phenom Caitlin Clark made headlines with her courtside appearance, while ESPN's Stephen A. Smith has been ever-present, fueling debate with every possession. Super Bowl MVP Patrick Mahomes , Vikings receiver Justin Jefferson , and Spanish racing sensation Alex Palou added some multi-sport flair to the proceedings. Hall of Fame running back Emmitt Smith was also seen soaking in the action. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Forget Furosemide, Use This Household Item To Help Drain Edema Fluid WellnessGuide Learn more And it's not just about nostalgia. With this marking the first NBA Finals Game 7 since 2016—and only the 20th in league history—the event carries serious cultural weight. According to league records, the home team has won 15 of the previous 19 Game 7s, giving the Thunder a slight edge on paper. Still, it's anyone's game. And with legends from both franchises expected to attend, plus even more celebrities likely to drop in unannounced, the energy in the arena promises to be electric. Also Read: Caitlin Clark's boyfriend Connor McCaffery sends one-word reaction after Indiana Fever star's stunning return When and where history happens matters—and on Sunday night in Oklahoma City, the 'when' is now. With two hungry teams, one championship on the line, and the kind of courtside guest list that makes headlines in its own right, Game 7 of the 2025 NBA Finals is shaping up to be a true crossover event. Who wins is the big question. Who shows up to see it unfold? That might be just as fun to watch. Game On Season 1 kicks off with Sakshi Malik's inspiring story. Watch Episode 1 here
Time of India
2 hours ago
- Time of India
NBA champion Kevin Durant expands partnership with QSI after buying stakes in Paris Saint-Germain
Kevin Durant via Getty Images NBA icon Kevin Durant has diverted the spotlights towards himself, all thanks to his off-court ventures. As reported by the reputed media outlet The Athletic, the Phoenix Suns power forward went on to expand his partnership with the Qatar Sports Investments after buying a direct minority stake in the French soccer club Paris Saint-Germain. The announcement has already created waves in the global basketball fraternity, as this comes amidst the talks between the FIBA and NBA with respect to the addition of a new league in Europe. Kevin Durant buys a direct minority stake in Paris Saint-Germain Two-time NBA champion Kevin Durant made headlines after purchasing minority stakes in the reputed French soccer club Paris Saint-Germain. According to the recent update on Durant's stake, he would be the brain behind the diversification and growth strategy of the club. He would be looking into the development of PSG not only in the US but also in other markets too. Based on the information provided by Kevin Durant's media and investment firm, Boardroom, he would be playing the key role of a strategic advisor for the overall expansion of Paris Saint-Germain. The four-time gold medalist expressed his excitement with respect to his new role and partnership with the QSI. He said, 'It is an honor to partner with QSI and be a shareholder in Paris Saint-Germain—a club and city that is deeply close to my heart. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch xu hướng AUD/USD? IC Markets Đăng ký Undo This club has big plans and I look forward to being part of the next phase of growth and exploring new investment opportunities with QSI.' According to Kevin Durant's stake with the UEFA Champions League winners Paris Saint-Germain, he would be giving valuable strategic inputs on the potential basketball initiative and the overall branding of the French soccer club. Reportedly, he would be working towards developing the media, investment, and commercial strategies with the QSI for a potential launchpad for the NBA's European debut. Paris Saint-Germain is popularly known as PSG, a renowned sports brand with proper teams in judo, soccer, and handball, and is looking forward to expanding the sports entertainment segment on a global level, and basketball star Kevin Durant is one of the most prominent faces in the NBA; hence, he is the perfect choice for the brain behind PSG's global initiatives. Also Read: Los Angeles Lakers star Luka Doncic is set to appear in LeBron James and Steve Nash's podcast Mind The Game Game On Season 1 kicks off with Sakshi Malik's inspiring story. Watch Episode 1 here
