Washington Commanders managing partner Josh Harris signs a Commanders helmet while joined by Washington Mayor Muriel Bowser and NFL Commissioner Roger Goodell during a news conference on construction of a new Commanders stadium in Washington, April 28, 2025.<\/p>\n
Win McNamee | Getty Images<\/p>\n
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Subscribe here to get access today<\/a>.<\/p>\n So, what does Harris, who also owns the Philadelphia 76ers and several other sports properties, think about the Lakers’ price?<\/p>\n “I bought the Commanders for $6 billion, and everyone said it was the highest price on planet Earth, and I think that now it looks like an attractive deal,” Harris told CNBC’s Michael Ozanian. “I think the Lakers are worth every bit of $12 billion.”<\/p>\n Harris said he is not concerned that sports team valuations are reaching bubble levels, even as revenue multiples have skyrocketed. CNBC’s proprietary team transaction database<\/a> suggests that the $12.5 billion paid for the Lakers would be an estimated 20 times the team’s 2025-26 season revenue \u2014 an all-time high multiple for a control stake in an NBA team.<\/p>\n Instead, Harris pointed to the continued interest in live content, and how sports have both massive fan bases and media value across the globe, areas that are growing further.<\/p>\n He also cited the growing investment from private equity into sports, helping to not only fund purchases but evolving what was historically a rather illiquid asset.<\/p>\n Harris said he is “not surprised” by the roughly 25% Lakers valuation increase in about a year. “That’s basically what these things have been growing \u2026 the multiple implies massive growth but there’s also that scarcity value, people want to own it.”<\/p>\n “At some point you transcend traditional valuation metrics,” Harris said.<\/p>\n