Should you find yourself with the winning ticket to Monday’s record-breaking Powerball jackpot draw, you’ll be $1.9 billion richer.
At least on paper.
Assuming you take the lump sum — a controversial strategy — the taxes will eat up nearly $1 billion and leave you with an estimated $929.1 million in cash, according to Powerball. Nobody won the jackpot for Saturday’s drawing, which is the 40th drawing without a winner.
If the money ends up burning a hole in your pocket, here are a few things you can afford.
Major League Soccer Cup winner Los Angeles Football Club could be yours for around $900 million, according to Sportico.
In September, the club was the most valuable team in MLS, beating LA Galaxy by $35 million.
But act fast: The 8-year-old team won their maiden MLS Cup on Saturday, which is sure to add to its value.
Unfortunately, no MLB, NFL, NBA, or NHL franchise in Los Angeles is within your reach. The Rams are priced at $6.2 billion while the Lakers are worth nearly $6 billion. The Dodgers are worth around $4 billion.
While owning the Lakers, Clippers, Rams, Chargers, or Kings doesn’t seem feasible without wise investments and incredible returns, some of these teams could play on courts or fields that bear your name.
The Crypto.com Arena (formerly Staples Center) and SoFi Stadium naming rights were recently sold for $700 million and $625 million, respectively.
Enterprise software company Intuit paid $500 million to put its name on the Intuit Dome under construction in Inglewood, where the Clippers will play in 2024.
However, you may have to wait a few decades to see your name in the lights, as both Crypto.com and SoFi have 20-year naming rights deals.
The most expensive Los Angeles house on the market
You may want to spend your newfound fortune on something more practical, such as B. a new home.
The most expensive house on the market in Los Angeles will be well within your budget at $165 million, according to Redfin.
Dubbed “The Manor,” the 56,600-square-foot home at 594 S. Mapleton Dr. is adjacent to the Los Angeles Country Club in Holmby Hills.
“From bowling alleys to beauty salons, lawns to rose gardens, legendary library to professional screening rooms, the possibilities are vast and endless,” advertises Redfin.
Built in 1990, the home has 14 bedrooms and 21.5 bathrooms.
It’s been out for almost a year, so the sellers are probably motivated and you can potentially save a million or so.
El Pollo Loco
While you’re in the market, you might also consider purchasing El Pollo Loco. No location, not a few locations – the whole company with almost 500 restaurants.
The Costa Mesa-based chicken chain, which trades under the symbol LOCO, has a market cap of $404.8 million and an estimated enterprise value of $602.7 million, according to Yahoo Finance.
It reported revenue of $458 million in the trailing 12 months.
https://www.latimes.com/california/story/2022-11-07/name-a-stadium-or-buy-the-most-expensive-home-in-town-heres-what-winning-mondays-powerball-jackpot-can-get-you-in-los-angeles What winning Monday’s Powerball can get you in L.A.