New Lakers Owners Chase $30B; Tickets Could Soar
New Lakers Owners Chase $30B; Tickets Could Soar
The News
The Los Angeles Lakers' incoming ownership is telling investors it can push the franchise toward a $30 billion valuation within the decade, according to the New York Post.
Part of the pitch could cost fans. The Los Angeles Times reports that the company run by incoming Lakers owner Joshua Kushner is pitching investors on cutting brokers out of ticket sales — a move that could raise what fans pay to get in the door.
The Times compared the approach to the pricing scheme used by the Dodgers, and said Lakers ticket costs could soar under it.
The Numbers
$30 billion — the valuation target the new ownership group has put in front of investors, on a timeline of within the decade, per the New York Post.
Timeline
Mark Walter unexpectedly sells the Lakers, according to the New York Post.
The Los Angeles Times reports that the company run by incoming owner Joshua Kushner is pitching investors on dumping ticket brokers, a change that could raise ticket prices.
The New York Post reports the new ownership plans to reach a $30 billion valuation within the decade.
Reactions
Coverage has split along predictable lines: a business story for investors, a bill for fans.
The Los Angeles Times framed the plan as one that could make Lakers tickets far more expensive, likening it to the Dodgers' pricing setup.
Heavy called the $30 billion push "bad news" for Lakers fans, writing that the owners' ambitious vision has one part that cuts against the people in the seats.
What's Next
The ticket plan is still a pitch to investors, not an announced policy. Whether brokers actually get cut out — and what that does to face-value prices — will show up when the Lakers set pricing for the season ahead.
Poll
Should teams sell tickets directly and cut out brokers?
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