By Tania Ganguli

Not long ago you could buy a National Basketball Association (NBA) team in the country’s second-largest city for just $2 billion. Yet those days are already a thing of the past.

Bob Iger and Joshua Kushner announced this week that they had bought control of the Los Angeles Lakers in a deal that priced the franchise at $12.5 billion. It was a record figure for a NBA team, eclipsing the $10 billion paid for the Lakers just last year — and was the latest in a pattern of skyrocketing sale prices for sports franchises. Is it mania or just a reasonable resetting of the market?

“Like anything else, it’s worth what someone is willing to pay,” Mark Cuban, the former owner of the Dallas Mavericks, said in an email. Cuban bought the Mavericks from Ross Perot Jr in 2000 for $285 million. When he sold a majority stake of the NBA team to Miriam Adelson and her son-in-law Patrick Dumont in 2023, the team was valued at around $3.5 billion.

That same year, the NBA’s Suns and the Women’s National Basketball Association’s (WNBA’s) Mercury, both in Phoenix, were sold to Mat Ishbia, who had made his fortune in mortgage lending, for a valuation of $4 billion. Also in 2023, Michael Jordan, the NBA legend, sold a majority stake in the Charlotte Hornets that priced the team at $3 billion — $2.7 billion more than he paid in 2010. At the time, those numbers seemed outlandish, especially given the size of those teams’ markets. It was only the start.

In 2025, Bill Chisholm-led group bought the Boston Celtics at a $6.1 billion valuation, just a few months before Mark Walter, a financier, bought a majority stake in the Lakers with a valuation at $10 billion. NFL teams sell much less frequently, but the Seattle Seahawks sold for $9.6 billion last month.

“I am absolutely convinced that we have not reached anything close to a ceiling,” said Irwin Kishner, a partner at the law firm Herrick and co-chair of its sports law division. And particularly with the most recognisable teams, he said: “You could only envision the numbers going further north.” By that he means teams like the NBA’s New York Knicks, the National Football League’s (NFL’s) Dallas Cowboys and the New York Yankees of Major League Baseball. Indeed, the Yankees received a $2.6 billion investment this week that valued the franchise at close to $10 billion.

People in the sports industry said at least a few things had contributed to the rising prices. Sports is one of the last big draws to live TV, and as a result leagues — and therefore the teams — are being paid far more.  Kishner pointed to the NBA’s recent TV rights package: an 11-year agreement with broadcasters worth about $77 billion.

The legalisation of sports betting has also opened a new revenue stream for franchises, Kishner said. And then there’s the feeling that sports, as well as other live and in-person events, may be insulated from the impact of artificial intelligence. Many of the recent deals have involved investor groups, not individual buyers. On Friday, Jeff Bezos, the founder of Amazon, was part of a crowded investment group that joined forces to buy about a third of Liverpool Football Club.

“I do think that going forward, one individual writing a check for a team will be rare,” Cuban said. “Which brings its own inherent changes.” Not everyone agrees this influx of cash is a good thing.

“Sport is the goose that laid the golden egg,” said David Andrews, a professor at the University of Maryland who studies the sociology of sport. He has wondered if fans will become disillusioned if sports leagues and teams become too commercialised or financially driven. “But that doesn’t seem to have happened,” he said. “For whatever reason, the goose is kind of still alluring, and we’re still enchanted by the game despite its hyper-financialisation.”

Bill Simmons, a media mogul and prominent Boston sports fan, has lamented that the super wealthy increasingly view sports teams as investments, rather than prized civic entities to protect.

“You still want to think that the people running the best teams actually care about those teams,” Simmons said during a recent episode of his namesake podcast. He said there seemed to be an era approaching where sports teams were “just giant hedge fund plays.”

Simmons argued that Iger, the recently retired chief executive of Walt Disney, and Kushner, a venture capitalist, would also view the Lakers as simply a financial asset.

Kushner and Iger tried to soothe such concerns in a statement released after announcing their purchase. They said they were “deeply honoured for the opportunity to become stewards of the Los Angeles Lakers.”

“I don’t think like the people that own these teams, that their motivation is to buy and flip,” said Diane Gotua, who led the NBA’s global business strategy for almost five years and is now the chief commercial officer for the start-up Pro Padel League. “It’s almost like a legacy asset. It’s how they want to be known and remembered.”

Manchester City defender Ruben Dias captained Enzo Maresca’s side as they lost 3-0 to Arsenal in the Community Shield

Manchester City defender Ruben Dias insists that more is to come from the Blues after the 3-0 defeat to Arsenal in the Community Shield. City were comfortably second best against the Gunners and were behind in under a minute as Riccardo Calafiori slotted home in front of the Arsenal fans.

Just before the half-hour mark, Mikel Arteta’s side went 2-0 up as Kai Havertz’s header beat Gianluigi Donnarumma from close range. Shortly after the break, the game was put beyond doubt when Martin Odegaard put Donnarumma down and slotted the ball into an open goal.

Speaking to TNT Sports after the game, Dias said: “First of all, thank you to the fans who came, obviously it is a long distance. Thank you to all of them for coming so far. It’s the beginning of the season but it’s not good enough.

“Many things are changing and a new manager as well. Still, the way the game starts, it just sets you off right away. They get comfortable playing their game. But in the end, this is just starting and the most important thing is that we’re already looking forward, and we will be ready for our next game.”

He added: “I joined midway [through pre-season]. This is the third game since I’ve been back. The feeling has been good. Obviously, today it’s frustrating and it’s a final we want to win it but there is a lesson to be learned from the final, let it be this one because there’s a lot more coming.”

Sunday marked Enzo Maresca’s first competitive game in charge of City and the manner of the defeat will be a setback for him. Dias insists there remains a positive atmosphere in the group despite the defeat and upheaval.

“Well it’s a positive energy,” Dias concluded. “The feeling is there is a lot of work to put in. It’s part of a new transition for things not to be so perfect in the beginning and you need to push through, you need to keep on working, you need to communicate, you need to make things work between us and, obviously, with Enzo as well.

“I feel like it will. We are in a very good way. But we need to keep on working and there is obviously going to be lots of challenges along the way and that’s it. [We need to] stay positive, look forward. We have our first Premier League game very soon.”

City begin the new Premier League season next Sunday when they host Bournemouth at the Etihad Stadium.

Manchester City manager Enzo Maresca spoke about what is needed from the club in the transfer window

Enzo Maresca said that the sooner Manchester City can make signings the better for them after a 3-0 defeat to Arsenal in the Community Shield. The Blues were brushed aside by the Premier League champions in Maresca’s first outing on British soil as City boss after conceding in the first minute.

With Savinho, Tijjani Reijnders and Rodri all absent from the squad amid expected departures, City have work to do to replace the players they are set to lose on top of more additions they are looking to make. Lille’s Ayyoub Bouaddi is one player that City are in negotiations to sign but Sunday’s defeat to Arsenal highlighted more that is missing from Maresca’s squad.

City’s coach insisted after the game that the club’s transfer plans are ‘clear’ and unchanged by the Arsenal result. However, there is also much work to do in the final two weeks of the window for the Blues to give Maresca the backing that they want to do as he follows Pep Guardiola.

“Any new signing, the sooner they arrive the better because we are starting the Premier League in one week and if they start to work with us as soon as possible it’s better that they can also understand the way we want to play,” said Maresca.

“We knew already before the game of the things that we need to do. It’s not because we lost the game or even if we had won the game to think differently. We are quite clear in what we need to do and for sure we are going to do something before the window closes.”

Juventus pull out of move for Emiliano Martinez, Manchester City face competition for Pedro Neto and Real Madrid want Martin Zubimendi.

Aston Villa‘s Argentina goalkeeper Emiliano Martinez, 33, will not be joining Juventus this summer following talks between the clubs. (Athletic – subscription required), external

Manchester City are keen to sign Portugal winger Pedro Neto, 26, from Chelsea but face competition from Al-Hilal. (Talksport), external

New Real Madrid manager Jose Mourinho has approved a move for Arsenal‘s Spain midfielder Martin Zubimendi, 27. (Teamtalk), external

Nottingham Forest have joined the race to sign Liam Delap from Chelsea, with the 23-year-old English striker keen to stay in the Premier League. (Talksport), external

Everton lead the chase for Delap, with Chelsea having already told him that he can leave the club this summer. (Teamtalk), external

Newcastle are preparing a bid of 55m euros (£47m) for Villarreal’s Georgia forward Georges Mikautadze, 25, who is also interesting Barcelona. (Fichajes – in Spanish), external

Nigeria forward Victor Osimhen, 27, has refused to rule out a summer move from Galatasaray, with Arsenal interested. (Caught Offside), external

Coventry City are closing in on the signing of Sidiki Cherif from Fenerbahce after agreeing a deal for the Guinea forward, 19. (Give Me Sport), external

Everton are keen to sign English midfielder Marcus Tavernier, 27, from Bournemouth before the transfer window shuts. (Football Insider), external

A deal for Leeds United‘s Suriname forward Joel Piroe, 27, to join West Ham United is in its final stages. (Voetbal International – in Dutch), external

Hull City are in advanced talks over a £21m deal for Panathinaikos forward Andreas Tetteh, with Roma also interested in the Greece international. (Ekrem Konur), external

Manchester United are stepping up their efforts to cash in on their academy, with English left-back Harry Amass, 19, potentially a player that could move on for about £7m plus add-ons. (Mail – subscription required), external

AC Milan manager Ruben Amorim has excluded Youssouf Fofana from his plans for the season, with Nottingham Forest and Crystal Palace now interested in the France midfielder, 27. (Football Insider), external

Atletico Madrid want to beat Barcelona to the signing of Morocco midfielder Azzedine Ounahi, 26, who Girona value at about 25m euros (£21.3m). (Fichajes – in Spanish), external

The benefit of age is clearly evident in Shadhavar, who added another Stakes victory to her impressive record with a hard-fought win in the Listed Regal Roller Stakes (1200m) at Caulfield this past Saturday.

Following a campaign last preparation that saw Shadhavar achieve Listed race success across two starts, the mare has continued her development with yet another black-type triumph.

It was precisely one year ago that Shadhavar finished unplaced in a Benchmark 74 race at the corresponding meeting. However, the Pride Of Dubai filly has now recorded six wins from 15 career starts, accumulating in excess of $400,000 in prize money.

Sent off as the $5 favourite with Craig Williams in the jockey silks, Shadhavar managed to secure a short-neck victory over Persian Spirit ($10). Recommendation ($6) claimed the third position, a length behind the runner-up.

Senior part-owner Joe O’Neill stated that there would be no immediate plans to extend Shadhavar to the 1400m trip for the Group 1 Memsie Stakes, which is scheduled to take place at Caulfield on August 29.

He suggested that the Group 3 Courtza Stakes (1200m), also scheduled for the same race day, would likely be a more suitable objective.

“She’s a very good mare and she’s improving all the time,” O’Neill commented. “Who knows where she may finish, as it is just the start of her preparation.”

“The Courtza Stakes is in two weeks’ time, and I would like to win that. I think we will keep her sprinting as you can go up in distance too quickly and have a gut-buster and it is a long way to Flemington.”

O’Neill praised trainer Tom Dabernig for his outstanding management of Shadhavar, outlining a campaign strategy that he hopes will culminate at Flemington during the prestigious Melbourne Cup Carnival.

“The Champions Sprint,” O’Neill proclaimed. “I think she’s a sprinter, and that’s the thing, people tend to push horses sometime and push them out in distance. Keep her fresh, keep her happy, so it’s very good.”.

Given the mare’s current form, placing a wager on her victory in the Regal Roller Stakes via online bookmakers presents an appealing option.

Chris Evert threw her support behind Caitlyn Jenner, who lambasted the WNBA for its handling of transgender eligibility policies. After Indiana Fever guard Sophie Cunningham expressed her stance against the inclusion of transgender athletes, the WNBA has found itself surrounded by the hot-button issue.

The debate intensified after former NBA players Enes Kanter Freedom and Royce White declared themselves as the 2027 WNBA draft prospects.

During her latest appearance on Fox News, Jenner addressed the manner in which the WNBA handled the controversy over whether transgender athletes should compete in the league. She backed the two former NBA players, who declared their intentions to feature in the WNBA.

“They’re showing the hypocrisy of what’s going on out there in the WNBA. The WNBA had their meetings on this issue and Cathy (Engelbert), the head, says, ‘We talked about the trans issue but we just haven’t come up with a conclusion at this point. We will continue the conversation.’ Cathy, XX, you’re in. XY you’re out. It’s that simple,” Jenner told Fox News.

Chris Evert, the 18-time Grand Slam champion, backed Jenner’s views on the existing situation in the WNBA and wrote on X:

“The two people’s opinions I respect regarding this issue are Caitlyn Jenner and Renee Richards, who both have firsthand experience. They both have some strong opinions and have gone on the record.”

According to the existing laws in the WNBA, a lack of clarity prevails regarding whether transgender athletes can compete in the league or not. According to the WNBA’s collective bargaining agreement’s Article XIII, Section 1(a): “Only players who are women are eligible to play in the WNBA.”

Chris Evert defends Martina Navratilova from critics amid WTA’s gender testing policy debate

The transgender inclusion debate has also been the talk of the town in the world of tennis. Tennis icon Martina Navratilova has been the loudest in support of the policy.

Several top players including Aryna Sabalenka, Coco Gauff and others have rooted for the WTA’s initiative. Chris Evert weighed in on the entire situation and wrote on X:

“Martina Navratilova and Nancy Hogshead WERE the first athletes to back it and received a lot of criticism. It’s good to hear current athletes weigh in. My opinion? Ask Renee Richards or Caitlyn Jenner their opinion… They lived it, and I would certainly respect their opinion.”

As of now, no known transgender athletes are competing on the tour. The last known transgender athlete to feature in the WTA was Renee Richards, who competed from 1977 to 1981.