Josh Harris, owner of the Philadelphia 76ers and the Washington Commanders, recently commented on the soaring valuations of professional sports teams, highlighting the Los Angeles Lakers’ latest sale as a prime example. The Lakers were sold this month for $12.5 billion to Joshua Kushner and Bob Iger, setting a new record for the highest price paid for a sports franchise in the United States. This deal follows a prior sale just over a year ago, when Guggenheim Partners CEO Mark Walter bought a majority stake in the Lakers, valuing the team at $10 billion.

Harris, who led a group acquiring the Washington Commanders for $6 billion in May 2023, said he views the Lakers’ current valuation as justified, calling it “worth every bit” of the $12.5 billion price tag. He noted that while his Commanders purchase initially seemed like a record-breaking number, it now appears modest compared to recent deals. Harris believes that the rising valuations are driven by the global appeal of live sports content and expanding fan bases, along with increasing media and commercial value.

Despite the rapid increase in team valuations, which have pushed revenue multiples to unprecedented levels—such as the Lakers’ estimated multiple being about 20 times their 2025-26 season revenue—Harris does not foresee a bubble or a slowdown. He also pointed to the growing participation of private equity investors in sports franchises, helping fund transactions and add liquidity to a market that was previously challenging to finance.

The Lakers’ record-setting sale is part of a broader surge in the value of professional sports teams, including recent transactions like the Atlanta Falcons’ valuation at $10.6 billion and the Seattle Seahawks’ deal set at $9.61 billion. Harris remarked on the scarcity and attractiveness of owning such assets, suggesting that their worth sometimes transcends traditional financial metrics as interest and investment in the sector continue to grow aggressively.