Story perspectives

Waltons buy Bulls stake as United Center tax break approved

6/27/2026

Summary

Waltons Acquire Stake

Lukas Walton and wife Samantha Walton bought a minority stake in the United Center and the Bulls.
Bulls CEO Michael Reinsdorf said the Waltons share his belief in Chicago.
The Reinsdorf and Wirtz families will keep controlling interest in the United Center and the $7 billion 1901 Project.
A City Council Committee approved a $55 million tax break as officials broke ground on Phase One, adding a music venue, hotel and garage.

Summary

Waltons Own Teams

The Walton family owns the NBA’s Chicago Bulls, the NFL’s Denver Broncos (via uncle Rob Walton), and a stake in MLB’s Arizona Diamondbacks.
The Bulls, missing three straight playoffs, are rebuilding with a new basketball-operations executive, a new head coach and a top draft pick.
Sports franchise values have surged, illustrated by Lakers’ $10 billion sale, Celtics’ $6 billion sale, and Forbes ranking the Bulls $6 billion in market value with $160 million revenue.

History

Historical Context

Founded in 1966, the Bulls were bought by Jerry Reinsdorf in 1985. After Reinsdorf and GM Jerry Krause drafted Michael Jordan with the 1984 third pick, the team captured six NBA titles between 1991 and 1998, including a 72-win season in 1995-96. The franchise’s rise shows how private ownership paired with city-backed arenas can create lasting sports value.

1 of 3

Waltons Acquire Stake

Lukas Walton and wife Samantha Walton bought a minority stake in the United Center and the Bulls.
Bulls CEO Michael Reinsdorf said the Waltons share his belief in Chicago.
The Reinsdorf and Wirtz families will keep controlling interest in the United Center and the $7 billion 1901 Project.
A City Council Committee approved a $55 million tax break as officials broke ground on Phase One, adding a music venue, hotel and garage.

1 / 3