In a shocking yet historic turn of events in NBA ownership, one of basketball’s most legendary franchises, the Los Angeles Lakers, has been sold for a staggering $10 billion. This deal marks the most expensive sale of a U.S. sports team in history.
The deal was made public on June 19, when the Buss family, who have owned the Lakers since 1979, confirmed they had agreed to sell the franchise to the ownership group behind Major League Baseball’s Los Angeles Dodgers.
For a little context, the late Dr. Jerry Buss originally bought the team over four decades ago. Since then, the LA Lakers evolved into a global brand.
Their legacy includes 17 NBA championships, tied with the Boston Celtics for the most in league history, and a lineage of superstars including Magic Johnson, Kareem Abdul-Jabbar, Shaquille O’Neal, Kobe Bryant, and LeBron James.
According to Yahoo Sports, the new owners are expected to carry on the Lakers’ tradition of success while bringing in fresh ideas for brand expansion and fan engagement.
The $10 billion sale has reset the bar for professional sports valuations, surpassing the previous record set by the Boston Celtics’ $6.1 billion deal. The Washington Commanders ($6.05 billion), Denver Broncos ($4.65 billion), and Phoenix Suns/Mercury ($4 billion).
Additionally, here’s a look at the Top 10 most expensive American sports franchise sales, per Sports Illustrated:
- LA Lakers – $10 Billion
- Boston Celtics – $6.1 Billion
- Washington Commanders – $6.05 Billion
- Denver Broncos – $4.65 Billion
- Phoenix Suns & Mercury – $4 Billion
- Dallas Mavericks – $3.5 Billion
- Charlotte Hornets – $3 Billion
- New York Mets – $2.4 Billion
- Brooklyn Nets – $2.35 Billion
- Carolina Panthers – $2.275 Billion
As expected, the sale has made headlines in the sports world, eliciting a plethora of reactions online. The Lakers, long associated with dominance, now move into a new chapter.
And there is no denying that fans across the globe will be watching closely to see how the new owners steer one of basketball’s most iconic brands into the future. And if it proves to be a well-thoughtout move.