• Loading stock data...
Sunday, December 15, 2024

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

The Billion-Dollar Player: MLB Nears Unprecedented Contract Milestone

Speculation rises on who will garner an unprecedented 10-figure contract.

Steve Cohen Says Mets Ticket Sales ‘Exploded’ From Soto Signing

The Mets were 18th in MLB attendance this past season, Cohen said.
Michigan signee Bryce Underwood smiles during national signing day at Belleville High School in Belleville on Wednesday, Dec. 4, 2024.

Reader Mailbag: Is the NIL Era Out of Control?

Readers had a lot to say about Ellison and the NIL era.

The Top-Secret Operation to Create the Army-Navy Football Uniforms

The two-year process includes dozens of employees, NDAs, and military historians.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
Dec 1, 2024; Landover, Maryland, USA; Washington Commanders general manager Adam Peters (L) talks with Commanders owner Josh Harris (R) on the field prior to the game against the Tennessee Titans at Northwest Stadium.

CEO Leaves $13 Billion Soup Company to Run Commanders

The new president will lead the planning and development of the team’s stadium.
November 15, 2024

Adam Silver Defends NBA Product Amid Sluggish Ratings

Silver said the NBA compares itself to “the biggest brands in the world.”
LPGA Commissioner Mollie Marcoux Samaan after the final round of golf during the CME Group Tour Championship at the Tiburon Golf Club in Naples, Fla., Sunday, November 19, 2023.
December 2, 2024

LPGA Commissioner Leaving After Brief Up-and-Down Tenure

Mollie Marcoux Samaan was hired in 2021.
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.
November 11, 2024

Endeavor to Sell OpenBet, IMG Arena to Its CEO Ari Emanuel

The move is “a necessary step” as Endeavor seeks to go private.
May 22, 2024; Minneapolis, Minnesota, USA; Minnesota Timberwolves minority owners Marc Lore and Alex Rodriguez look on in the second half against the Dallas Mavericks during game one of the western conference finals for the 2024 NBA playoffs at Target Center.
October 23, 2024

A-Rod, Lore Deposit $940M As Wolves Ownership Hearing Nears

Rodriguez and Lore made a large escrow deposit in advance of a key upcoming arbitration hearing.
October 22, 2024

Dude Perfect CEO’s Task: Make the Dudes a Media Company

Dude Perfect’s new CEO wants fans to be able to experience the brand in person.
Feb 13, 2023; Beverly Hills, CA, USA; Disney CEO Bob Iger arrives at the 95th Oscars nominees luncheon at the Beverly Hilton in Beverly Hills, Calif. on Monday, Feb. 13, 2023.
October 21, 2024

Bob Iger’s Successor Won’t Be Named Until 2026

Iger’s current contract expires at the end of 2026.