The Chicago Bulls and the United Center have officially announced a major ownership shift. Lukas Walton, the 39-year-old billionaire grandson of Walmart founder Sam Walton, along with his wife Samantha, has acquired a minority interest in both the iconic NBA franchise and its home arena.
According to sources familiar with the matter, the Waltons have purchased a 10% stake from existing limited partners. While the exact valuation of the deal remains undisclosed, CNBC recently valued the Chicago Bulls franchise at a staggering $6.45 billion, making it the fifth-most valuable team in the NBA.
No Path to Controlling Ownership
For die-hard Bulls fans wondering about management changes, the team clarified that this transaction does not provide Lukas Walton with a path to controlling ownership.
- The Reinsdorf Family: Will remain the controlling owners of the Chicago Bulls. Jerry Reinsdorf originally bought the team for just $16.2 million back in 1985.
- The United Center & The 1901 Project: The Reinsdorf and Wirtz families (owners of the NHL’s Chicago Blackhawks) will continue to hold the controlling interest in the stadium and The 1901 Project—a massive $7 billion redevelopment plan on Chicago’s West Side.
Commitment to Chicago’s West Side
Lukas Walton, who has a reported net worth of roughly $45 billion according to Forbes, is a resident of Chicago. In an official statement, the Walton family expressed their excitement about investing in the community:
“The Chicago Bulls are as iconic as the city itself, and this transaction reflects our dedication to the city’s future. We look forward to the United Center’s continued positive impact on Chicago’s West Side.”
This isn’t the Walton family’s first venture into professional sports. Lukas’s uncle, Rob Walton, famously purchased the NFL’s Denver Broncos in 2022 for $4.65 billion and also holds a stake in the MLB’s Arizona Diamondbacks.
With this new multi-billion dollar backing, Chicago fans are hoping this financial boost can eventually translate into on-court success for a franchise that hasn’t made the NBA playoffs since the 2021-2022 season.