From Boston to L.A.: What Two Moves Say About Who Owns Sports

The owners of the Los Angeles Lakers sold a majority stake in the franchise to billionaire businessman Mark Walter. Meanwhile, the Boston Red Sox traded away their superstar outfielder, just a year and a half after signing a $313 million extension.

They both reflect this new era of sports ownership, where the world’s biggest franchises are part of growing global portfolios. Loyalty isn’t to the city or the fans but to the return on investment.