10 billion! The world s most expensive sports transaction was born, why is the Lakers worth this price?

Recently, the Los Angeles Lakers are about to complete the transaction at a valuation of $10 billion, and this news shocked the sports and financial circles at the same time.

Unlike the valuation of capital speculation, this transaction is real money and set the most expensive record in global sports history. The average valuation of NBA teams is only US$4.4 billion, while the Lakers have a premium of more than 40%. Why can only the Lakers reach this ceiling price?

Strong income model

To understand the Lakers' high valuation, we need to first analyze the income composition of NBA teams, and the Lakers are at the top level in the industry in all revenue sectors.

jersey sponsorship fee is one of the team's important sources of income. Since the NBA opened jersey advertising in 2017, the league has earned about $150 million in revenue every year through this channel. The Lakers performed particularly well in jersey advertising, which was originally sponsored by Wish, a world-renowned e-commerce company, and brought in $12 million in revenue each year.

In 2021, the Lakers signed a new contract with catering brand Bibigo for more than $100 million in five years, and the sponsorship fee increased to $20 million per year, becoming the team with the highest revenue from jersey advertising in the NBA. Nelson data shows that since the Lakers won the 2019-2020 season, the advertising space has been exposed to nearly US$200 million every year, and the advertising value is extremely high.

jersey sales also brought considerable benefits to the Lakers. The influence of historical stars such as James and Kobe has made the Lakers jersey a popular target for fans around the world. In the 2023-2024 season, the Lakers' jersey sales ranked first in the league, and the fans' sentimental consumption was converted into actual cash flow.

In terms of home ticket revenue, the Staples Center is the super traffic entrance to Los Angeles before the Lakers' home court. More than 250 events are held here every year, attracting 4 million visitors, covering NBA and NHL events, as well as Grammy concerts, e-sports competitions, etc. The average annual ticket revenue of US$180 million and the occupancy rate of 95% demonstrates its strong money-making ability. The Lakers sell not only seats at home, but also social scenes and identity symbols, attracting Hollywood celebrities, Silicon Valley giants and global wealthy people.

TV broadcasting rights income is the cornerstone of the Lakers' stable income. The Lakers and Warner Bros. signed an exclusive broadcast agreement of $350 million per year for 20 years, ensuring stable cash flow. Even if the team's record is not good, the Lakers' game ratings are still high, because watching the Lakers game has become a cultural consumption.

Top IP Value

The Lakers' high valuation not only comes from the above-mentioned revenue base, but also lies in their strong IP monetization capabilities.

From the "showtime" era of Magic Johnson, to the foundation of Jabbar's foundation in the Lakers' dynasty, to the "OK combination" of Kobe and O'Neal's dominance of the league, and the joining of active star James, generations of stars have accumulated a deep historical heritage and a huge fan base for the Lakers. According to statistics from

Nelson Sports, the Lakers have more than 120 million fans worldwide, and there are nearly 30 million fans in China alone. The competition covers 215 countries and regions around the world. Even those who don’t know basketball know the name of the Lakers’ “Purple Gold Legion”, and their IP influence is far beyond that of ordinary sports teams.

The Lakers not only have top IPs, but are also good at maximizing the value of IP. "Moment of Victory" launched by HBO is set in the Purple Gold Dynasty. The Douban scores are 9 points in both seasons, and the freshness of Rotten Tomatoes is 87%, enhancing the Lakers' cultural influence. In 2021, the SpringHill company founded by James, created documentaries, short dramas, advertising endorsements and virtual images around the Lakers IP, adopting content packaging, star licensing and platform joint venture models, with the company's valuation reaching US$725 million.

In the field of digital goods, the Lakers also achieved remarkable results. In 2024, the Lakers' NFT virtual star cards, digital tickets, etc. will fully blossom, and the sales of the NFT series jointly created by James alone reached US$12 million in a single quarter. Since Jenny Buss promoted digital transformation, the number of downloads of Lakers APPs exceeded 30 million, and the annual growth rate of virtual products reached 47%, forming a virtuous cycle of mutual promotion between products and content.

In the current environment of fierce competition in the sports content market, the NBA has signed a 11-year super broadcast order of US$77 billion with Disney, NBC, and Amazon. The Lakers, as one of the IPs with the highest ratings premium, will make huge profits from it. Many technology giants have been deploying in the sports content field, and the Lakers, with strong IP, have an advantageous position in the future market.

The Bass family strategically withdraws from the commercial layout with Walter

Since the Lakers have such strong profitability, why did the Bass family choose to sell it? This is not because of a shortage of funds. Over the past decade, Lakers' revenue has continued to grow, and businesses such as digital goods, streaming media, and IP licensing have flourished. The real reason for sale is the structural problem of the family inheritance mechanism. The Bath family adopts family-style holdings, which is behind the complex trust arrangements. During his lifetime, Jerry Bass divided the equity into four trust structures, which were jointly held by six children. The trust agreement stipulates that if a child dies, his shares will be distributed evenly to the rest of the people. As time goes by, the equity will become more and more scattered, making it more difficult for family governance. In order to avoid future disputes over equity issues, the Bass family chose to cash out at a high valuation point. From the acquisition for more than $60 million in 1979 to the sale of $10 billion in 2025, the net profit in 150 times in 46 years is staggering return on investment.

In addition, changes in the external environment also prompted the Bass family to make this decision. Nowadays, the NBA has in-depth cooperation with technology giants, and content, technology and capital are accelerating the integration. It is difficult to promote the further development of Lakers IP by relying solely on the family team. Selling the Lakers to Mark Walter will help integrate its IP resources such as F1, Chelsea, and Dodge to open up a larger content market.

For buyer Mark Walter, the acquisition of the Lakers is an important step in his sports IP matrix layout. Walter manages assets of over $300 billion and has previously successfully invested in the Los Angeles Dodgers, Chelsea Football Club, etc., and has rich experience in the investment field of sports industry.

acquires the Lakers, and he is interested in the future development potential of the Lakers in the global sports content market and its fission ability as an IP factory. Unlike Saudi sovereign fund PIF, which acquires Saudi clubs and pursues short-term traffic, the Lakers' self-circulation ecosystem is a sustainable profit model.

The Los Angeles Lakers' $10 billion deal is the result of its strong revenue capabilities, top IP value and complex business considerations. This transaction is not only a milestone event in the sports industry, but also provides a reference for the development of global sports business.