Lakers sale for $12.5 billion could lift Utah Jazz valuation
Venture capitalist Josh Kushner and former Disney chief Bob Iger are buying the Los Angeles Lakers for $12.5 billion, the highest price ever paid for a sports franchise, which may raise the market value of other NBA teams such as the Utah Jazz.
Josh Kushner and Bob Iger are set to acquire the Los Angeles Lakers for $12.5 billion, establishing a new benchmark for professional-sports franchise prices. The deal follows Mark Walter’s $10 billion purchase of the team only months earlier, illustrating how a single high-priced sale can reset the "comps" used to value NBA clubs. An Eastern Conference executive told one outlet that the league’s growing popularity and competitive balance are driving such valuations higher.
Utah Jazz owner Ryan Smith bought his franchise for $1.66 billion in 2020; recent estimates place its worth between $4.1 billion and $4.35 billion, and the Lakers transaction could lift that to near $5 billion. Jeff Shaffer of Alvarez & Marsal warned that the surge may trigger secondary sales from investors who entered the market a few years ago. The Jazz retain minority stakeholders, including Hall of Famer Dwyane Wade, while the Gail Miller family has fully exited. Smith has publicly emphasized a long-term, community-focused approach to ownership.
Why it matters
A record Lakers sale resets NBA franchise values, potentially increasing the worth of other teams like the Utah Jazz.
How this story developed
- Aug 12 Bob Iger and Josh Kushner Acquire Lakers for Over $12 Billion
- Aug 12 Former Disney chief Bob Iger and investor Josh Kushner have agreed to purchase the Los Angeles Lakers for roughly $12.5 billion, pending NBA approval.
- Aug 12 The NBA Board of Governors scheduled a September vote on the proposed Lakers sale.
- Aug 13 The NBA’s advisory finance committee has begun its review of the proposed ownership change.
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