Latest news with #teamownership
Yahoo
19-06-2025
- Business
- Yahoo
How much did the Lakers' stake sell for to Mark Walter?
It was barely three months ago the Boston Celtics set an American sports record when Bill Chisholm purchased the team from the Grousbeck family for $6.1 billion. Leave it to their rival Los Angeles Lakers to immediately top them. On Wednesday, ESPN's Shams Charania reported the Buss family is selling their controlling stake in the franchise to Mark Walter for $10 billion. Advertisement Yes, you read that correct. Ten. Billion. Dollars. According to ESPN's Ramona Shelbourne, the Buss family, which purchased controlling interest in the team for $67.5 million in 1979, owns 66 percent of the Lakers. That would mean the whole team value is closer to $16 billion. These are just staggering numbers. It's the largest sale of a pro sports team in the world. Buss Not Bolting: Here's what's next for Jeanie Buss Here's where other sales rank in comparison. Largest Sports Team Sales in United States History Feb 27, 2025; Los Angeles, California, USA; Los Angeles Lakers guard Luka Doncic (77) and forward LeBron James (23) during the second quarter against the Minnesota Timberwolves at Arena. Mandatory Credit: Jason Parkhurst-Imagn Images Los Angeles Lakers: $10 billion Boston Celtics: $6.1 billion Washington Commanders: $6.05 billion Denver Broncos: $4.65 billion Phoenix Suns and Mercury: $4 billion New York Mets: $2.4 billion Brooklyn Nets: $2.35 billion Carolina Panthers: $2.275 billion Houston Rockets: $2.2 billion This article originally appeared on For The Win: Where Lakers' sale to Mark Walter ranks in U.S. Sports history
Yahoo
18-06-2025
- Business
- Yahoo
DreamFinders Homes CEO, Jumbo Shrimp owner among those in talks to buy the Tampa Bay Rays
An investment group interested in buying the Tampa Bay Rays includes prominent Jacksonville business figures. The Rays released a statement Wednesday confirming that it was discussing a possible sale of the team. 'The Tampa Bay Rays announced that the team has recently commenced exclusive discussions with a group led by Patrick Zalupski, Bill Cosgrove, Ken Babby and prominent Tampa Bay investors concerning a possible sale of the team,' the club said Wednesday while declining further comment. Advertisement Zalupski is from Ponte Vedra Beach and is the Founder, Chairman, and Chief Executive Officer of Dream Finders Homes, Inc. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] Babby is the owner of the Jacksonville Jumbo Shrimp, which is the Triple-A affiliate of the Miami Marlins. A representative for the Jumbo Shrimp told Action News Jax's radio partner WOKV, 'We have no comment at this time.' [SIGN UP: Action News Jax Daily Headlines Newsletter] Action News Jax reached out to the city of Jacksonville about this development and received the following statement: 'Jacksonville has fantastic fans and sports are a big economic driver for our city. It is premature to consider the opportunity at this point, but anything is possible down the road as we continue to grow.' Advertisement This is a developing story. Action News Jax will update this story as we receive more information. Click here to download the free Action News Jax apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action Sports Jax 24/7 live.
Bloomberg
13-06-2025
- Business
- Bloomberg
Sports Teams Now Run Like Tech Startups: Fmr. NFL Player
Andrew Kline, Park Lane Founder & Former St. Louis Rams Lineman speaks with Romaine Bostick about the rising valuations of sport teams. (Source: Bloomberg)
New York Times
15-05-2025
- Business
- New York Times
San Francisco 49ers to sell minority stake in team to trio of local families
The San Francisco 49ers are in the process of selling 6.2 percent of the team to a trio of Bay Area families, according to a league source familiar with the proposal. The York family, who own the 49ers, would sell 3.1 percent to the Khosla family, 2.1 percent to the Deeter family and 1 percent to William Griffith. Advertisement The league's finance committee has recommended approval of the transactions at next week's NFL owners meeting in Minnesota. Vinod Khosla, 70, was the co-founder of Sun Microsystems and is currently the managing director of Khosla Ventures out of Menlo Park. Byron Deeter, 50, is a partner at Bessemer Venture Partners, which has offices in San Francisco and Redwood City. Deeter graduated from UC Berkeley, where he played rugby. Griffith, 53, is a partner at ICONIQ Capital in San Francisco. He played football at Dartmouth and earned an MBA from Stanford. Earlier this year, the NFL owners approved an 8 percent sale of the Philadelphia Eagles to a pair of individuals, reportedly boosting the franchise's value to $8.3 billion. The New York Giants, meanwhile, are reportedly looking to sell a 10 percent stake in the team. If the 49ers' transaction is approved, Jed York would control approximately 91 percent of the club. The 49ers declined to comment on the proposal on Thursday.
