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Market Chatter: Walmart Heir to Buy Minority Stake in Chicago Bulls

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Lukas Walton, an heir to the Walmart (WMT) fortune, and his wife, Samantha, are buying a minority stake in the National Basketball Association's Chicago Bulls, Bloomberg reported Friday, citing a statement from the Bulls.

Financial terms of the deal, which includes part of the United Center where the Bulls play their home games, were not disclosed, the report said.

The Waltons will acquire the stakes from existing limited partners, while the Reinsdorf family will retain its controlling interest in the franchise, according to the news outlet.

Walmart and the Bulls didn't immediately reply to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $116.92, Change: $+1.14, Percent Change: +0.98%

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