Los Angeles Lakers Poised for New Ownership as Buss Family Reportedly Sells Majority Stake to Mark Walter for $10 Billion

In a landmark deal shaking up the NBA landscape, the Buss family is reportedly finalizing an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of TWG Global [[1]]. The staggering $10 billion deal would mark a historic moment in sports business, dwarfing previous NBA franchise sales [New Source].

The $10 Billion Deal: A New Era for the Lakers?

the reported agreement signals a notable shift for the Lakers, one of the NBA’s most storied franchises. While the specifics are still emerging, sources indicate that Jeanie Buss will remain in her role as governor, ensuring continuity in the team’s leadership [[1]].

Did You Know? …

The $10 billion price tag is equivalent to approximately $3.6 trillion in Hungarian Forint, enough to construct 25 Puskás Arenas.

Who is Mark Walter?

Mark Walter is the CEO of TWG Global, a diversified holding company with significant investments in sports.Walter already holds a minority stake (26%) in the Lakers and is part of the ownership groups of the Los Angeles Dodgers (MLB),the Los Angeles Sparks (WNBA),and Chelsea (Premier League,football) [[3]].

The Buss Family Era: A Legacy of Success

The Buss family’s ownership of the Lakers began in 1979 when jerry Buss purchased the team,along with the Kings hockey team and the Forum Sports Hall,for $67.5 million [[3]]. Under their stewardship,the Lakers have become one of the NBA’s most successful franchises,winning 17 NBA championships,second only to the Boston Celtics’ 18 titles.

Pro tip: …

Keep an eye on potential changes to the Lakers’ management structure and player acquisitions following the change in ownership.

Record-Breaking Deal

This potential sale surpasses the previous NBA record set just three months prior when the Boston Celtics were sold for $6.1 billion, highlighting the escalating value of NBA franchises [New Source].