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When Private Equity Comes for Your Favorite Team

When Private Equity Comes for Your Favorite Team

The Daily vor 1 Monat

The Los Angeles Lakers have been sold for a record $12.5 billion, the latest sign that huge pools of institutional money are flooding into professional sports.

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Last week, the owner of the Los Angeles Lakers announced he was
selling the basketball team for $12.5 billion — the highest price
ever paid for a professional sports team. The deal has shocked
the sports world and drawn new attention to a growing trend: Big
groups of investors have been buying up professional sports teams
as the franchises chase skyrocketing valuations.

Today, Pablo Torre, the host of “Pablo Torre Finds Out,” explains
the deal and how big money is transforming our relationship with
the sports we love.

Guest: Pablo Torre, a Pulitzer Prize-winning journalist and the
host of “Pablo Torre Finds Out.”

Background reading:

The deal for the Los Angeles Lakers valued the team at a
record $12.5 billion, eclipsing the $10 billion paid for the
franchise just last year.

The transaction for the Lakers reflects the huge profit
potential of major sports franchises.

Photo: Logan Riely/NBAE, via Getty Images

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available by the next workday.

For more information on today’s episode, visit
nytimes.com/thedaily. Transcripts of each
episode will be made available by the next workday.

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