The Bulls announced that Walmart heir Lukas Walton and wife Samantha have acquired a minority stake in the team and the United Center, home to the Bulls and Blackhawks. Walton bought out several existing limited partners. Neither the size of the stake nor the value of the transaction were disclosed.
Jerry Reinsdorf remains control owner of the Bulls, while the Reinsdorf and Wirtz families control the United Center. The deal does not provide Walton a path to control ownership, a la Reinsdorf’s sale of a stake in the White Sox to Justin Ishbia last year.
BDT & MSD Partners advised the Reinsdorfs, Wirtzs and exiting limited partners. Law firm Katten Muchin Rosenman advised the Bulls, Davis Polk & Wardwell advised the Reinsdorf family and Latham & Watkins advised the Wirtz family. Inner Circle Sports and Covington & Burlington advised the Waltons.
