The Los Angeles Lakers are being sold in a historic deal reportedly worth an estimated $10 billion, making it the most expensive sale of a US sports team ever.
Billionaire financier Mark Walter, CEO of TWG Global, is set to acquire the majority stake from the Buss family, who have owned the iconic NBA franchise since 1979.
Walter, who also controls the World Series champion Los Angeles Dodgers, was already a co-owner of the Lakers with a 20% stake.
He has diverse global sports investments, including Chelsea Football Club and the Cadillac Formula 1 Team.
Under Buss family ownership, the Lakers won 11 NBA championships and appeared in 17 NBA Finals. Jeanie Buss, who has served as the team’s governor since 2013, is expected to retain her position under the new ownership.
Lakers legend Magic Johnson praised the sale, highlighting Walter’s success with the Dodgers as a positive sign for the Lakers’ future.
“She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans!” Johnson posted on X.
