The LA Lakers are worth $5B

Lakers minority owner Philip Anschutz is selling his 27% minority stake in the team. But he still owns the Staples Center, where they play.

June 30, 2021

The Los Angeles Lakers, winners of 17 NBA titles, were already eliminated from this year’s playoffs — but their owner just scored big.

According to Joe Pompliano at Huddle Up, sports and entertainment mogul Philip Anschutz will sell his 27% minority stake in the storied franchise.

The deal values the Lakers at $5B, and the buyers are locals: Mark Walter and Todd Boehly, the owners of the Los Angeles Dodgers baseball team.

NBA franchises have exploded in value

In 2011, the average NBA franchise was worth ~$367m. Today, that figure is ~$2.2B.

The 6 largest franchises — all in big markets (New York, San Francisco, LA x2, Chicago, Boston — make up two-thirds of the total league value, per Pompliano.

Anschutz’s sale marks another trend: minority owners willing to cash out. PE firm Arctos Sports Partners recently bought a 5% stake from minority owners of the Golden State Warriors, valuing that franchise at $5.5B.

While Anschutz is selling the team…

… his firm — the Anschutz Entertainment Group (AEG) — owns the Staples Center, where the Lakers play.

Meanwhile, basketball is only one part of the AEG empire:

  • Other stadiums include The O2 (London), T-Mobile Arena (Las Vegas), and Mercedes-Benz Arena (Shanghai)
  • Other sports teams include the LA Kings (hockey) and LA Galaxy (soccer)
  • Music festivals such as the New Orleans Jazz & Heritage Festival and sweatfest Coachella

And… AEG also owns… well, you get the point. Anschutz has a lot of stuff, and funds from the Lakers sale will surely finance more.

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