The Billion Dollar Business of Sports Franchises: A Shift in Valuation Leigh Steinberg, a seasoned sports agent with four decades of experience, recently pointed out the unprecedented valuations in the sports industry during an interview.
Notably, he mentioned the ongoing Los Angeles Lakers sale, valued at $12. 5 billion. This staggering figure serves as a reminder that we are witnessing a significant shift in how we view and value sports franchises.
The growth of franchise values is nothing short of astonishing when considered against their historical context. Steinberg recalled the NFL expansion teams he helped establish in 1976, which were purchased for $16.