The Los Angeles Lakers set a new record for a professional team sale price at $12.5 billion, according to CNBC, and sports investor Josh Harris said the franchise is worth 'every bit' of that figure.
Key facts
- The Los Angeles Lakers sold for $12.5 billion, according to CNBC.
- The sale set a new record for a professional team sale price, per CNBC.
- Sports investor Josh Harris said the team is worth 'every bit' of the price.
- CNBC identified Harris as the owner of the Philadelphia 76ers and the Washington Commanders.
The Los Angeles Lakers have set a new record for the sale price of a professional sports team, changing hands for $12.5 billion, according to CNBC.
Sports investor Josh Harris weighed in on the deal, saying the franchise is worth “every bit” of the record figure, CNBC reported.
CNBC identified Harris as the owner of the Philadelphia 76ers and the Washington Commanders.
Further details of the transaction were not provided in the available reporting.
Why it matters
The reported $12.5 billion sale sets a new record for a professional sports team sale price, according to CNBC, an indicator of the values being placed on major sports franchises.
Frequently asked questions
How much did the Los Angeles Lakers sell for?
The Lakers sold for $12.5 billion, a record for a professional team sale price, according to CNBC.
Who is Josh Harris?
Josh Harris is a sports investor who owns the Philadelphia 76ers and the Washington Commanders. He said the Lakers are worth 'every bit' of their $12.5 billion price.
Was this a record sale price?
Yes. According to CNBC, the $12.5 billion price set a new record for a professional team sale.