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If a report about the Los Angeles Lakers signing a $3 billion, 20-year cable television deal with Time Warner is accurate, the team is now worth in excess of $1 billion. That valuation would not only push the Lakers ahead of the New York Knicks to the top of our NBA franchise valuations, but at a minimum would also make the Lakers more valuable than 17 NFL teams and every MLB team, except the New York Yankees. Jerry Buss, the majority owner of the Lakers, is now on his way to becoming a billionaire. Forbes 400 member Philip Anschutz is adding gravy to his $7 billion net worth. (Magic Johnson must be furious at Buss and Anschutz if reports that the former Laker great recently sold his stake in the team are true).
The deal with Time Warner would begin with the 2012-13 season, with one new regional sports network televising Lakers games in English and another RSN showing the games in Spanish. The Lakers, led by the most popular player in the league, Kobe Bryant, have captured two consecutive NBA titles and are among the best television draws in sports.
The new deals is a punch in the gut to Rupert Murdoch's News Corp, which owns Fox Sports West, as well local station KCAL-TV, which currently split Lakers games.
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