00:00Iger and Kushner, they were preparing to chase a Las Vegas expansion team, as you mentioned.
00:04They instead paid $12.5 billion for the Lakers, an iconic sports brand just worldwide.
00:10What does that number and the fact that the same franchise changed hands again so quickly
00:15due to the NBA's expansion conversations, how do you think this impacts the NBA at large?
00:21It's crazy to think that. I think it was, what, what year is it, 2014,
00:25that the Clippers were sold at a valuation for $2 billion.
00:28And even at the time, most people thought that Steve Ballman was overpaying.
00:32Now that's looking like an incredible investment.
00:35It almost feels like no matter what team you're interested in,
00:37if you're trying to buy an NBA team, that almost feels like the ground floor.
00:41It's just also a reflection of the growth of the NBA's business, both domestically and internationally.
00:45And that's why you're going to see these expansion fees get as high as they will be.
00:48And also why it seemed like the Lakers could have a valuation well over $10 billion,
00:53$12.5 billion to be back.
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