Jerry Buss (LA Lakers owner) passed away today after a fight with cancer.
The LA Lakers are the most valuable franchise in the NBA. According to Forbes: “Blockbuster television deals and a new collective bargaining agreement have lifted the value of the average NBA team to a record $393 million, up 6.5% over last year. No team has benefited more from the explosion in TV money than the Los Angeles Lakers, who have unseated the New York Knicks as the league’s most valuable franchise. The Lakers struck gold last year with a new 20-year television deal with Time Warner Cable worth an average of $200 million annually beginning with the 2012–13 season. The agreement drives the value of the Lakers up an NBA-high 40% to $900 million. Read More