Lakers buyers pitch investors on valuation as high as $62 billion

Paying $12.5 billion for the Lakers apparently is only the beginning.

The franchise’s incoming ownership group is pitching prospective investors on the possibility that the team could be worth at least $30 billion, and perhaps as much as $62 billion, within 10 years.

The projections appear in an investor presentation circulated by Thrive Capital and reviewed by Jessica Toonkel and Mark Murer of The Wall Street Journal.

Joshua Kushner and former Disney CEO Bob Iger are leading the group that agreed to purchase control of the Lakers from Mark Walter at a $12.5 billion valuation.

Under the buyers’ baseline forecast, the franchise would reach a $30 billion valuation if NBA media-rights revenue doubles during the league’s next negotiating cycle. The most aggressive projection puts the figure at $62 billion.

Those are projections, not promises. They also are being shown to people whom Thrive wants to invest.

The group expects Lakers revenue to grow from an estimated $681 million in 2026 to at least $1.6 billion by the end of 2037. Adjusted earnings are projected to rise from approximately $129 million to more than $589 million.

The presentation also identifies roughly $150 million in near-term revenue opportunities by 2028.

One major piece involves reclaiming approximately 6,000 season tickets currently controlled by outside brokers and selling more of that inventory directly. The presentation projects the strategy could increase the average realized ticket price from $217 to $361, though that does not necessarily mean an immediate across-the-board price increase for fans.

New sponsorships could generate another $40 million to $75 million, while operating changes are projected to save at least $20 million.

The buyers are not merely purchasing a basketball team. They are betting on global expansion, local media opportunities, escalating ticket revenue and another enormous NBA broadcast agreement.

A $12.5 billion purchase price looks less outrageous if the asset eventually is worth $30 billion. It looks brilliant at $62 billion. That, of course, is the pitch.