Why are the Lakers worth $10 billion?

The scepter of the NBA is quietly changing hands in the torrent of capital. Just a few months after the Celtics' record $6.1 billion deal, the Lakers have recently changed hands with a sky-high price of $10 billion that shocked the industry. This not only sets a new record for sports club transaction amounts, but also highlights the amazing value of top NBA teams as "super assets".

Now, the operating logic of the new and old rich people has quietly separated. Behind the change of ownership is the soaring revenue expectations brought about by the new sky-high broadcast agreement, the expansion of team valuations, and the deeper intervention of capital in the sports industry. When "feelings" and "gold and Yuan" collided fiercely, the new chapter of the wealthy Lakers indicates that the NBA's business territory is being re-written by capital forces.

Feng Zihan reported that the Lakers are worth 10 billion

This team that has won 17 championships in total can be said to be one of the most successful giants in NBA history, with superstars such as Jabbar, O'Neal, "Magic" Johnson, Kobe Bryant, and LeBron James. The wealthy brands for decades have created a huge global fan base. The Lakers' peripheral product sales and sponsorship cooperation (such as jersey advertising and brand joint brand) are all at the forefront of the league, and the brand effect is directly converted into commercial income.

In the "Bass Era" in 46, the Lakers won 11 championship trophys, making them the team with the most NBA championships in the same period, and it is also a golden sign. In addition, the backing of Los Angeles, a city with close integration of entertainment industry and sports, further amplifies the team's commercial value.

In fact, the actual transaction price of US$10 billion is about 20% premium compared with the valuation of mainstream institutions. Thanks to Doncic's joining, his arrival has raised the Lakers' valuation to 10 billion in four months, contributing a premium of nearly 2 billion. Looking back now, this deal may be an operation for selling the team.

It is worth noting that last year, the NBA officially announced a new broadcast agreement of $77 billion with Disney, NBC, Amazon, etc. The surge in salary cap will push up the team's revenue share. As the team with the most live broadcasts in the United States, the Lakers will become one of the biggest beneficiaries. This positive news has further enhanced the future value of the Lakers. It is reported that after the new broadcast agreement takes effect, the Lakers' annual revenue may increase by US$150-200 million, and the team's copyright share will further jump.

The Bath family made a fortune

People lamented the end of the "purple gold complex" in the Bath era, but they have to admire the profound investment vision of their family.

In 1979, Jerry Bass invested all the money he earned from real estate into the sports industry - he bought the Los Angeles Lakers from Cook for about $67 million, who also "given" him a hockey team and a suburban farm. Now this team can actually expand to a scale of 10 billion, which can be said to have left a rich legacy for the six children.

After selling the team, the Bass family still retained about 15% of the equity, and the team's actual controller Jenny Bass will continue to be in power for several years, achieving a balance between cash out and influence.

Recalling a few months ago, the Celtics sold $6.1 billion, it is already shocking. Now the Lakers use real money to tell the outside world what is a real wealthy family.

The Bass family made a lot of money by selling the team at the right time, but the mall is like a battlefield, and the battle-hardened bosses also miss it. The "reverse" is the four-year sales storm of the Timberwolves.

In May 2021, Timberwolves owner Glen Taylor agreed to sell the team to e-commerce giant Lore and MLB legend Rodriguez for a price of $1.5 billion. But at the end of March 2024, the Timberwolves officially issued a statement saying that the transaction was terminated because the buyer had expired and had not ended.

Then the two sides began a dispute and the agreement was not reached until April this year. Taylor agreed to hand over all ownership of the Timberwolves and WNBA team Bobcats to Lore and Rodriguez for a price of $1.5 billion. On June 25, the NBA board of directors formally approved the deal.

Taylor bought the team for only $94 million, and now he can recover $1.5 billion. However, the Timberwolves' valuation has reached US$3.1 billion in 2025. Due to the lockdown of the agreement in 2021, Taylor's deal is still considered "a big loss" by the outside world.

The Rich Man's Krypton Gold Game

Most NBA bosses only regard running the team as a side job, such as the Clippers boss Ballmer is the co-founder of Microsoft, and the Cavaliers boss Gilbert family is the largest real estate developer in the United States. They are essentially different from the Bass family, who rely on the team to make money.

Because wealth depends on the team's own profits, the Lakers have adopted relatively conservative operating strategies in recent years, avoiding luxury taxes and investing in facilities for frugality. In the past few years, the Lakers' investment has not been large, whether it is coaching salaries, executive salaries, medical services, second-round draft picks or other operational businesses. Only Doncic's joining forced them to pay a maximum salary contract.

This is also one of the reasons why the family management system is gradually withdrawing from the historical stage. After all, compared with a strong capital group, its strength is hard to describe as strong.

In recent years, many NBA team owners have successively sold their equity, and the buyers are investment companies like TWGGlobal. For example, the Celtics' new owner, Symphony Technology Group, is also an investment company, and Mark Cuban also sold most of the Mavericks' equity for $3.5 billion in 2023.

A growing number of capital entering the sports industry is undoubtedly seeing the broad market prospects of the sports industry. They hope to turn the team into a sustainable "company" organization.

However, when the taste of money becomes heavier, the feelings may become less and less. Capital usually does not mix any emotions, they are more concerned about returns. In the eyes of investment companies, there are basically no privileged players. Only those who can bring benefits to the team are valuable, otherwise it is difficult to guarantee that they will be cleaned up.

For Walter, the Lakers are just a puzzle in his business territory. TWGGlobal owns shares in multiple professional sports teams, including MLB Los Angeles Dodgers, WNBA Los Angeles Sparks, Premier League Chelsea and F1 Cadillac. It has built a sports asset matrix covering North America, Europe and Asia. Walter eventually formed a synergistic effect by integrating cross-industry resources, involving sports, entertainment, insurance, real estate and credit.

The second Dodger in Los Angeles?

Walter's operation of making a name in the circle may be to acquire the MLB Dodgers.

In 2011, former Dodge boss Frank McCourt swept away the team's revenue of hundreds of millions of dollars and filed for the team's bankruptcy. In 2012, Walter and "Magic" Johnson and others formed the Guggenheim Baseball Management Company and spent twice the market forecast price - $2.15 billion to bring the Dodgers under their command.

At first, the outside world was not optimistic about this transaction, but due to the strong binding of commercial value and competitive performance, Dodge rose in adversity in the second year and was rated as the "most competitive team" by the media. He also obtained a high broadcast contract. In 2020 and 2024, the Dodge won the championship twice, with income and salary higher, and the player contract amount increased year by year. In 2023, it even set a contract record of US$1.145 billion, attracting more stars to join.

With the successful experience of the Dodgers, Lakers fans are full of expectations for their new owners. "Magic" Johnson was also very excited and posted on his social media: "About Mark (Walter), I can tell you! He pursues victory and excellence, does everything in the right way, and he will invest any resources needed to win!"

For running a professional sports team, Walter has his own logic, that is, "golden dollar strategy + professional delegation." At Dodge, Walter is willing to offer Shohei Otani a sky-high contract of $700 million in 10 years. This strategy of spending money may give the Lakers more room for operation in signing and renewing the contract, helping the team improve their competitiveness.

What is even more commendable is that Walter will not blindly pursue the star effect, and he also invests more funds in the construction of team echelons, scouting systems and training facilities. In the long run, such a layout will help the team develop sustainably and maintain long-term competitiveness.

The rich boss is here, are the Lakers ready to have a big fight?