Stan Kroenke’s surprise deal to buy the Los Angeles Angels capped a summer with an unprecedented level of action in sports M&A, with more than $30 billion in franchises trading hands in the four biggest U.S. leagues.
Since the start of June, sale agreements have been reached for the Seattle Seahawks ($9.6 billion), the Los Angeles Lakers ($12.5 billion), the Minnesota Timberwolves ($4.5 billion) and now the Los Angeles Angels ($4 billion). That $30 billion is more than the total value of U.S. sports control sales in any calendar year prior to 2026. In 2023 and 2025, for reference, there were about $22 billion in such transactions across the NFL, MLB, NBA and NHL.
A handful of this summer’s deals have been superlative in their own right. The Lakers sale, should it close, would be the most expensive team sports deal ever. The Seahawks were the center of the most expensive NFL sale ever, and Kroenke’s deal is the most expensive MLB team sale ever. That would break a record set earlier this year, when the San Diego Padres sold for $3.9 billion.
There are a number of reasons why sports M&A appears to be accelerating. Major U.S. leagues have scarcity value, and there are hefty tax benefits that come alongside their acquisitions. More recently, some investors—like Lakers buyer Joshua Kushner—are looking at sports as an area of the U.S. economy that might be more insulated from the pending upheaval from advances in AI. That increased demand could also serve to spur sales by owners who previously weren’t considering selling.
