'Jerry Maguire’ Inspiration on Lakers, Sports Valuations

Leigh Steinberg, legendary sports agent and founder of the Leigh Steinberg Foundation, spoke about the unprecedented valuations in the sports industry, highlighting the ongoing Los Angeles Lakers sale currently valued at $12.5 billion. He emphasized the dramatic increase in franchise values over the decades, noting that when he started in 1976, NFL expansion teams were purchased for $16.5 million, compared to recent sales reaching into the billions. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)