The Los Angeles Lakers are set to be sold in a record-breaking $10 billion transaction, making them the highest-valued sports team in U.S. history.
Billionaire investor Mark Walter will acquire the Buss family's controlling stake, ending their 46-year reign over the franchise.
Mark Walter, CEO of TWG Global, will take over as the new owner, while Jeanie Buss will remain the team's governor.
TWG Global owns several sports assets, including the Los Angeles Dodgers, Los Angeles Sparks, and a stake in Chelsea FC.
Lakers legend Magic Johnson praised the deal, citing Walter's winning track record with the Dodgers and commitment to excellence.
The Buss family, led by Jerry Buss, owned the Lakers from 1979 to 2024, winning 11 NBA championships during their tenure.
More recently, the Lakers won their 17th NBA title in 2020 under LeBron James and made waves earlier this year with the acquisition of Dallas Mavericks star Luka Dončić.
Walter, who became a minority owner in 2021, secured first-refusal rights in that deal — giving him priority should the Buss family ever decide to sell. With this record-breaking acquisition, he now takes full control.
The $10 billion price tag shatters the previous record of $6.1 billion paid for the Boston Celtics earlier this year, which itself topped the $6.05 billion deal for the Washington Commanders in 2023.
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