Sources indicate a landmark deal is underway: the sale of a controlling interest in the Los Angeles Lakers, poised to become the most expensive sale of a US sports team in history.
After owning the globally iconic franchise since 1979, the Buss family is reportedly selling to TWG Global CEO Mark Walter.
The sale’s estimated value is a staggering $10 billion (£7.45bn), a figure potentially subject to upward revision upon finalization.
Mr. Walter, also holding a controlling stake in the World Series-winning Los Angeles Dodgers, adds another prestigious sports franchise to his portfolio.
The Lakers have been contacted for comment by the BBC.
A spokesperson for Mr. Walter’s company confirmed the billionaire investor’s involvement, stating: “Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021.”
Mr. Walter’s 2021 acquisition secured him a 20% stake. His extensive sports investments encompass global teams, including Chelsea Football Club and the upcoming Cadillac Formula 1 Team (2026).
This sale surpasses the previous record-holder, the March sale of the Boston Celtics to Bill Chisholm for $6.1 billion, itself exceeding the 2023 sale of the Washington Commanders for $6.05 billion.
US media reports place the Lakers’ valuation at $10 billion or more, significantly surpassing previous records by approximately $4 billion.
Jerry Buss’s 1979 acquisition of the Lakers, along with the Los Angeles Kings hockey team and the Kia Forum arena, cost $67.5 million.
Under Buss family ownership, the Lakers have amassed more NBA championships than any other team, reaching the NBA Finals 17 times and securing 11 championships.
Despite playoff appearances in the past three seasons, the team—currently led by LeBron James—was eliminated each time.
Following Jerry Buss’s death in 2013, ownership transferred to his six children via a trust, holding a 66% stake.
Jeanie Buss, the team’s governor since then, reportedly retains her position under the terms of the sale to Mr. Walter.
The Los Angeles Times notes the trust mandated the agreement of a majority of the six children for any sale.
Lakers legend Magic Johnson, a former team stakeholder, expressed his enthusiasm, believing Mr. Walter will uphold the team’s legacy, pointing to his successful stewardship of the Dodgers.
On X, Mr. Johnson stated, “I just talked to my sister Jeanie Buss to tell her congratulations, and that I’m so happy for her and family,” adding in another post, “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!” He lauded both as “extremely intelligent, visionaries, great leaders, and…positively impacted the greater Los Angeles community!”
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