Lukas Walton takes minority stake in Bulls and United Center
The Walmart heir and his wife bought into the NBA team and arena, while the Reinsdorf family keeps control of the Bulls.
By Daniel Okafor · Business Editor
2 min read
Lukas Walton and his wife, Samantha Walton, have bought minority interests in the Chicago Bulls and the United Center, the team said Friday. The deal brings one of the Walmart fortune’s heirs into the ownership group of a high-value NBA franchise, though it does not change control of the team.
The Bulls said the transaction covers existing interests held by limited partners. The team did not disclose the size of the stake or the valuation attached to the sale.
The Bulls also said the purchase does not give Walton a route to controlling ownership. The Reinsdorf family remains in charge of the franchise, according to the team.
Jerry Reinsdorf acquired the Bulls in 1985 for $16.2 million, according to CNBC. CNBC’s most recent NBA valuations put the franchise at about $6.45 billion, ranking it fifth among league teams.
The United Center, the arena used by the Bulls and the NHL’s Chicago Blackhawks, remains under the controlling ownership of the Wirtz and Reinsdorf families, the team said. Those families will also keep control of The 1901 Project, a $7 billion redevelopment effort on Chicago’s West Side, according to the Bulls.
The Waltons, who live in Chicago, tied the investment to their interest in the city. In a statement released by the team, they said the Bulls are closely linked with Chicago and that the deal reflects their commitment to the city’s future.
They also praised the Reinsdorf and Wirtz families’ plans for The 1901 Project and said they expect the United Center to keep contributing to the West Side, according to the statement.
Lukas Walton, 39, is a grandson of Walmart founder Sam Walton, according to CNBC. Forbes estimates his net worth at roughly $45 billion.
The investment adds another sports asset to the broader Walton family’s holdings. CNBC reported that Lukas Walton’s uncle, Rob Walton, bought the NFL’s Denver Broncos in 2022 and also has an interest in Major League Baseball’s Arizona Diamondbacks.
The Bulls are one of the NBA’s best-known franchises after winning six championships during the Michael Jordan years, according to CNBC. More recently, the team has missed the playoffs since the 2021-22 season.
This story draws on original reporting from CNBC.