> According to Forbes, the Lakers are worth 1.3 Billion.
It makes no sense.
If it bankrupts another I’ll still be happy though...
there were 3 bids IIRC. It was an open process. Balmer outbid the second place by 800 mill.
If you have 20 billion and like B-ball, 2 bill is not so much.
Looks like the league really punished sterling and got another white owner to boot
The NY Knicks are worth 1.4 billion. When you look at operating costs and revenue from TV contracts a team can net 50-100 million a year. Last year the Knicks netted 96 million which was the most in NBA history.
You invest 2 billion, while your ROI is crap, just think of the tax writeoffs and tax losses you can claim when the team has 3 years of 20-62.