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Josh Harris Defends Record $12.5 Billion Valuation for Los Angeles Lakers Franchise
Consumer Services · Movies/Entertainment · cnbc · 2026-08-24
Philadelphia 76ers owner Josh Harris argues that the record-breaking $12.5 billion price tag for the Lakers is justified by the unique scarcity of sports assets.
What Happened
Record-Breaking Valuations: The Los Angeles Lakers have reached a historic valuation of $12.5 billion following a recent majority stake sale to Joshua Kushner and Bob Iger. This transaction surpasses previous benchmarks, cementing the franchise's status as the most expensive sports team purchase in U.S. history.
Market Sentiment: Josh Harris, owner of the Washington Commanders and Philadelphia 76ers, believes the Lakers' price is fully justified despite concerns regarding high revenue multiples. He notes that his own $6 billion acquisition of the Commanders now appears to be an attractive deal in light of the rapid appreciation of professional sports teams.
Drivers of Growth: Harris attributes the soaring valuations to the immense global demand for live sports content and the inherent scarcity value of these premier franchises. He also highlights the increasing role of private equity, which has provided liquidity and fueled capital investment into the sports sector.
Transcending Metrics: While traditional financial analysts may worry about bubble-like conditions, Harris suggests that top-tier sports teams have moved beyond standard valuation models. He remains confident that the sector will continue to see growth as these assets become increasingly sought after by high-net-worth investors and institutional firms.