The Buss family is poised to sell majority ownership of the Los Angeles Lakers, marking a historic moment in sports with a valuation of approximately $10 billion. This monumental agreement, reported by ESPN, will set a new record for the largest sale of a professional sports franchise globally. Jeanie Buss will remain at the helm as Lakers governor, ensuring continuity in leadership.
- Buss family selling Lakers to Mark Walter
- Valuation set at approximately $10 billion
- Largest sale of a sports franchise globally
- Jeanie Buss remains Lakers governor
- Walter has interests in multiple sports teams
- Lakers have been owned by Buss family since 1979
Mark Walter, CEO of TWG Global, is no stranger to the sports world, having stakes in various teams, including the Los Angeles Dodgers and the Los Angeles Sparks. Since acquiring a minority stake in the Lakers in 2021, Walter has been strategically positioned to take over the franchise. This sale follows significant transactions in the NBA, with notable figures like Mark Cuban and Wyc Grousbeck selling majority stakes in their teams for billions.
This sale raises questions about the future direction of the Lakers. Will this change in ownership impact their competitive edge? As the franchise transitions, several key developments are worth noting:
- Jeanie Buss will continue her leadership role, maintaining the franchise’s legacy.
- Mark Walter’s diverse sports portfolio may influence the Lakers’ strategic decisions.
- The sale reflects a growing trend of high-value transactions in the NBA.
- Walter’s previous minority stake positions him uniquely for this transition.
As the Lakers prepare for this new chapter, fans can look forward to how this ownership change will shape the team’s future. Will the Lakers continue to dominate the NBA landscape?
