Los Angeles Lakers to Cover $2 Million Cost of Championship Victory Parade

The Los Angeles Lakers will cover the cost of their championship parade after winning the National Basketball Association title for the second straight year.

The Lakers will privately fund the June 21 parade, the team said in a news release posted on its website. They’ll spend about $2 million to cover costs such as police overtime and other civic duties, according to the Associated Press.

A year ago, following the Lakers’ championship-series win over the Orlando Magic, billionaires Eli Broad and Haim Saban agreed to help the team pay for the victory parade after unions complained the city couldn’t afford to share the expense.

The Lakers earned a repeat celebration last night with an 83-79 win over the Boston Celtics in Game 7 of the NBA Finals, claiming the franchise’s 16th championship.

They are expecting between 500,000 and 2 million fans on the two-mile parade route, based on attendance figures from championships in 2002 and 2009.

To contact the reporter on this story: Mason Levinson in New York at mlevinson@bloomberg.net.

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