• Loading stock data...
Thursday, October 10, 2024
The Best Employers in Sports survey is now open! Take the survey

Sports Ownership Lore?

  • Lore was part of a bid for the New York Mets put together by Alex Rodriguez and Jennifer Lopez.
  • He is reportedly worth more than $1 billion.
Walmart

Walmart’s e-commerce chief is retiring — and he might be shopping for a sports team. 

Marc Lore joined Walmart in 2016 following the retail giant’s acquisition of his Jet.com e-commerce site. The $3.3 billion deal compensated Lore with at least $250 million in stock, which vested after five years at Walmart. 

Since the acquisition, Lore helped supercharge Walmart’s e-commerce operations. Walmart shares have approximately doubled in those five years.

The 49-year-old has big retirement plans: “I’m writing a book. I’m creating a reality TV show. I’m going to probably buy a sports team. I’m going to continue to mentor female founders.”

Lore is reportedly worth more than $1 billion.

He didn’t expand on his sports aspirations to The Wall Street Journal, but he has some options:

  • The NBA is eyeing two expansion franchises, with a price tag of $2.5 billion each.
  • Minnesota Timberwolves owner Glen Taylor is shopping the team.
  • Real Salt Lake of the MLS are also for sale.

Last summer, Lore was part of the bid for the New York Mets put together by Alex Rodriguez and Jennifer Lopez, which lost out to Steve Cohen.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Silver Defends NBA’s Second Apron As Competitive-Balance Tool

The commissioner points to an ongoing run of parity across the league.

College Football’s Most-Hyped Weekend: Networks Set to Cash In

NBC gets No. 2 Ohio State at No. 3 Oregon, while ABC has No. 9 Ole Miss at No. 13 LSU.

Twins Hit the Market: Pohlad Family Looks to End Four-Decade Ownership

The MLB club’s ownership is among the longest-tenured in the league.
podcast thumbnail mobile
Front Office Sports Today

Patriots Hit Rock Bottom; WNBA Finals Begin

0:00

Featured Today

Duante' Abercrombie News Ch.4 interview

Tennessee State’s Ambitious Plan to Launch an HBCU Hockey Program

TSU has big plans, but the university is facing an existential dilemma.
October 8, 2024

Ryan Smith Sees Salt Lake City As Next Vegas-Like Sports Town

Utah Hockey Club’s owner says all the pieces are falling into place.
October 8, 2024

How the WWE’s Farm Circuit Became a Primetime Draw

NXT produces generational talent—and it occupies a new prime-time network slot.
A DraftKings sign
October 7, 2024

A DraftKings Exec Left for Fanatics. Then the Bitter Legal Battle Began

Mike Hermalyn has been sidelined at Fanatics for nine months now.

New York First: Yankees and MSG Go All In on Live Sports Streaming Pact

The YES Network and MSG Networks will offer their content in a combined streaming app.
August 26, 2024

NFL Ready to Break New Ground With Historic Private Equity Investment

The league is poised to make official a long-awaited embrace of private equity.
August 28, 2024

ESPN’s Pitaro: RSN Turmoil An Opportunity to Expand Local Game Coverage

ESPN chairman Jimmy Pitaro highlights a fast-developing regional content strategy.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 19, 2024

NFL Private Equity Could Be Approved Before Season

No minority franchise stake sales have been publicly announced this year.
August 14, 2024

Rob Manfred’s Decade As MLB Commissioner, and What Comes Next

Manfred has presided over a period of change in MLB.
August 8, 2024

Mets Business President: MLB Has Not Marketed Its Stars Enough

Scott Havens says there are only two “faces of baseball.”
April 5, 2024

‘Baseless Corporate Conspiracy’: Hedge Fund Heats Up Feud Between NBA Owners

The Mat Ishbia–Dan Gilbert feud has exploded into view this week.