Should the Chicago Bulls Consider Selling as NBA Prices Go Crazy?

Even Jerry Reinsdorf can't ignore what is going on across the NBA.

Over the last year-plus, the business of basketball has taken on a whole new meaning. Multiple major franchises across the league have cashed in on sky-high valuations, and another joined the club on Friday morning.

According to ESPN's Shams Charania, Minnesota Timberwolves co-owner Marc Lore decided to sell his stake in the franchise to businessman Marc Stad. The latter will now become the controlling owner and largest shareholder of the organization. Alex Rodriguez will remain a co-owner alongside Stad, who will also have a majority stake in the Minnesota Lynx.

Stad has been a minority owner in the franchise and has been in conversations with Lore for months, per Charania. Nevertheless, it's another massive hierarchy change in the NBA, particularly one that comes not long after a separate high-profile sale. It took years for Lore and Rodriguez to finally gain full control of the Timberwolves, with the transfer of power not becoming official until one offseason ago. Now, the controlling stake will be on the move yet again.

Of course, this also comes only days after the Los Angeles Lakers were flipped in shocking fashion. Mark Walters brought control of the franchise from the Buss family in October of 2025. The price tag was an astronomical $10.0 billion, only for that to jump to $12.5 billion this summer in a sale to Bob Iger and Josh Kushner.

For those keeping track at home, as Charania kindly noted, this means that the four largest sales in NBA history have all taken place since March of 2025. The Lakers make up the top two sales on that list, while the Celtics came in third ($6.1 billion) and the Timberwolves fourth ($4.5 billion).

Largest sales in NBA history all happening over the last 17 months:

🏀 Lakers: $12.5 billion
🏀 Lakers: $10 billion
🏀 Celtics: $6.1 billion
🏀 Timberwolves/Lynx: $4.5 billion https://t.co/ozkT5oaNks
— Shams Charania (@ShamsCharania) August 21, 2026

Look, these kinds of sales don't just happen so close to one another coincidentally. Something is clearly in the air, and a handful of owners are ready to cash in. Does that mean we have reached a peak and franchise valuations are about to plummet? Of course not, but it does mean that the money has become so significant that it can be hard for current owners to pass up.

You know, especially owners who are 90 years old and bought their team in 1985!

Will the Chicago Bulls Ever Sell?

Jan 11, 2024; Chicago, IL, USA; Chicago Bulls owner Jerry Reinsdorf attends inaugural Ring of Honor gala at United Center. Mandatory Credit: Kamil Krzaczynski-USA TODAY Sports | USA TODAY Sports via Reuters Connect

Do I actually think that Jerry Reinsdorf has any intention of selling the Chicago Bulls? No, and the fact that his son, Michael, appears to be running more of the show underscores that point. The idea seems to be for this franchise to remain in the Reinsdorf family indefinitely.

With that said, everyone has a price. The Chicago Tribune initially reported Reinsdorf's purchase of the Bulls for a mere $9.2 million in 1985. A $16.0 million price tag has also been thrown out in the past. Regardless of what the final sale number was, we are talking about one of the most significant returns on investment in NBA history.

Would the Bulls reach the 12-figure peak that the Lakers have over the last year? No, but is it all that crazy to think they could walk away with more than the $6.1 billion that went to the Boston Celtics?

All things considered, this would be a very natural time to pass the torch for the Reinsdorfs. Not only is the organization in a massive transition period, but it would also mean striking while the iron is hot. Again, we've never seen NBA franchises be tossed around at this rate or for anything close to this amount of money.

The Bulls might also have an obvious buyer! It was just this year that the franchise announced a major new shareholder. Lukas and Samantha Walton – of the Walmart family – purchased a minority stake in BOTH the organization and the United Center. In that same press release, the team also noted the Waltons' admiration for the massive 1901 Project that is taking place on the West Side. This will significantly revamp the community around the arena.

None of this guarantees that the Waltons would have first dibs at the franchise if the Reinsdorfs did decide to sell. But it obviously makes them an easy business partner, as we just saw in Minnesota.

We also shouldn't forget that the Reinsdorf family has already agreed on a plan to hand off the Chicago White Sox. Justin Ishbia signed an agreement that will gradually award him a greater stake in the franchise in the years to come. The idea is that by the 2034 campaign, the White Sox will fully belong to Ishbia, with the ability for him to acquire the team before that.

In other words, the Reinsdorf have seemingly been willing to talk business more than ever before. And rightfully so with the kind of money being thrown around in the sports world!

Once again, none of this means that I expect the Reinsdorfs to put the Bulls on the market any time soon. They have insisted that they have no plans to sell at every turn, and all we can do is take them at their word. But you simply do not know when an offer you can't refuse might come across your desk. It's happening more and more across the NBA, and the Bulls remain one of the marquee franchises in all of sports. As billionaires continue to flaunt their cash, Chicago could quickly become a white whale for some.

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