More from Woike:

Source tells me the Los Angeles Sparks are not a part of any sale

The sale, which has not been finalized, has to be approved by the NBA’s board of governors.

Iger and his wife Willow Bay purchased a majority share of the National Women’s Soccer League franchise Angel City FC at a $250 million valuation in 2024.

Hefty_Junket_2784 | Magic

43 | 3 hours ago

Money really does make more money. Simply by buying something and selling a year later, he made more money than 1000 average Americans will make in their life

Wrong-Vermicelli4723

19 | 3 hours ago

Honestly I find it crazy there not a waiting period of like 4 years lol. That being said you’re right.

Dallas2houston120

11 | 3 hours ago

Pretty sure the NBA waived this through quickly because having an owner under federal investigation that will probably be indicted is a terrible look.

Resident-Cancel7284 | Pistons

5 | 2 hours ago

as opposed to this completely not terrible look of selling to the Kushner family lol

Answer70 | Rockets

3 | an hour ago

Any time a Kushner is involved you’re really dealing with the Saudis. That’s the true owner.

laddder | Clippers

1 | 13 minutes ago

Them secret tunnels are going to be heavily utilized 🤢

Oceanbreeze871

2 | 3 hours ago

That’s a profit of a million dollars, 2500 times over.

CazOnReddit | Raptors

0 | 3 hours ago

And if I understand how capital gains tax works in the US/if the rate is similar to here in Canada, the taxable total is less than if you made that in general income

SEAinLA | Supersonics

4 | 3 hours ago

Holding it for less than a year would see the profits treated as ordinary income, but holding it for over a year does receive more favorable tax treatment as long term capital gain.

tiorteD_snotsiP | Pistons

36 | 3 hours ago

Just a cool 208 mil a month in appreciation lol. Walter’s must be in deeeeeep shit

StOnEy333 | LAL

6 | 3 hours ago

That’s what I was thinking, too. This legal trouble he’s in is about to explode.

SaltyLonghorn | Rockets

2 | 2 hours ago

But I just bet on his legal problems quietly going away on Kalshi since he made a Kushner happy.

StOnEy333 | LAL

1 | an hour ago

Makes sense.

KarrotMovies | LAL

27 | 3 hours ago

a fraction of that .5 they left out would change everyone’s lives on here

Dallas2houston120

10 | 2 hours ago

Speak for yourself. That $500 mill would barely cover my capital gains tax on my space x shares. /s

ShelterSubject3259 | Suns

1 | 2 hours ago

It would, if the money was real. This is all fkn Monopoly money atp

WisdomCow | Warriors

15 | 3 hours ago

It’s a great economy for Billionaires.

LightSpecialist804 | Knicks

8 | 3 hours ago

At the end of the day that’s only a 25% gain. Walter would have made more by putting his money into Google instead

AmericanIMG | NBA

3 | 3 hours ago

And could have lost it there as well.

Niceguydan8

5 | 3 hours ago

Kind of a weird point. He “could have” lost it by investing in the Lakers as well.

It’s not like Google is some high risk stock either, it’s fucking Google.

AmericanIMG | NBA

2 | 3 hours ago

Have you seen ANY NBA franchise go down in value in the last few decades?

Niceguydan8

2 | 3 hours ago

Now go look at Google over the last decade as well.

My point is that both investments historically have done really well and the likelihood that an investor “lost it” in either investment is very low.

AmericanIMG | NBA

0 | 3 hours ago

Not really the same, one is guaranteed, one isn’t.

Niceguydan8

-2 | 3 hours ago

Neither one is guaranteed.

past performance is not indicative of future results.

Just because an investment hasn’t ever lost money doesn’t mean it will never lose money. This is investing 101.

AmericanIMG | NBA

3 | 3 hours ago

not for this asset class.

lcsulla87gmail | NYK

2 | 3 hours ago

Wouldn’t a 12 billion dollar investment in Google affect the price?

LightSpecialist804 | Knicks

2 | 2 hours ago

its a megacap, like 600-700 million moves in and out of it a day. If the buy is spread out over several trading sessions it shouldn’t affect it that much

AutographedSnorkel | Rockets

3 | 3 hours ago

Yeah, but that wouldn’t get the federal investigation against him dropped.

DopamineQuest | Cavaliers

1 | 3 hours ago

He’s gonna have to pay cap gains on it too, but it’s still sickening….and it’s literally 0 risk

Papamoon0327

6 | 3 hours ago

So you’re saying if I can come up with about 14 billion dollars and buy the lakers. I can then sell them for 16 billion next year? I’m gonna be rich

EnServe31 | Pacers

7 | 2 hours ago

Adam Silver is the worst commissioner in history

Vast_Mountain_1888

6 | 3 hours ago

I think this sell was inspired by mark Walter loan fraud investigation. That’s the only thing that makes sense.

Making 2.5 billion for his portion of the sale in a year is a vast amount so maybe that’s why he did it but I just don’t understand this sell.

ayeno

1 | 3 hours ago

He didn’t get $2.5b for the sale, his portion just sold for a value of $12.5b

RspectMyAuthoritah | Lakers

-2 | 2 hours ago

He paid 10B for it, hence a 2.5B profit is what he made.

ayeno

2 | 2 hours ago

He did not pay $10b for it. Mark bought part of the Buss's side for $10b valuation. He already owned like 30% of the team, and Patrick owns like another 15% or something like that. Mark probably made way more than $2.5b because his original portion was bought less than the $10b valuation.

Dailyindyfan

1 | 3 hours ago

Wait hold on so the sparks are still owned by who? I’m so so confused if Walter didn’t sell em and Disney isn’t he buying them does the buss own thems? This is like some freaking algebra

Kiriegloom | Bulls

1 | 24 minutes ago

Mark Walter has owned the Sparks since 2014

Prestigious-Elk6959

1 | 3 hours ago

It would be funny if the new groups decides to hide the Buss family to run the day to day

Mixeygoat | Warriors

1 | 3 hours ago

Are these sales made in cash? Or how does this work? I can’t fathom just having $12.5 billion liquid

clayfu | Clippers

1 | 2 hours ago

how much of his lakers purchase was tied to off the books credit swaps from his life insurance company assets to GCP and now needs to be unwound

AngsMcgyvr | Clippers

1 | an hour ago

2.5 bil ina year, goddamn. I knew I should have bought the Lakers.

Warm-Equivalent7148

1 | 8 minutes ago

People should understand that while 2.5 billion is a lot of money, it is in fact a 25% return on invested capital before taxes.

Fund Managers like Guggenheim are expected to provide such returns compounded over 5 years.

Selling after only one year for 25% is not exactly “best practice” specially because you need to redeploy the 10 billion somehwere else.

This was not a business as usual sale.

[Woike] The total for the sale, per one source, is \(12.5 billion -- \)2.5 billion more than Walter paid for the Lakers just 12 months ago.