Businessman Mark Walter has reached a deal with the Buss family, owners of the Los Angeles Lakers of the NBA, to acquire a majority stake in the franchise, valued at $10 billion.
This enormous figure shatters the record for the purchase of a team in the United States, previously held by the Boston Celtics in March at $6.1 billion.
Three months later, the Lakers are being sold for 64% more.
It marks the end of an era for the NBA, as the Buss family has controlled the Lakers since 1979. The Grousbeck family had owned the Celtics since 2002.
Mark Walter is the CEO and chairman of the investment firm TWG Global and has stakes in several sports teams, including the Los Angeles Dodgers (MLB), Los Angeles Sparks (WNBA), and the Cadillac Formula 1 team, which debuts in 2026.
He also held a minority stake in the Lakers since 2021.
Jerry Buss bought the Lakers in 1979 for $67.5 million in a package that included the Los Angeles Kings (NHL) and the former arena, the Los Angeles Forum.
In 2013, following the patriarch’s death, ownership of the franchise passed to his children, with Jeanie Buss taking charge.
Under the Buss family’s ownership, the Lakers have won 11 championships, more than any other team since 1985.
Despite the change in majority ownership, Jeanie Buss will remain as governor of the Lakers.
Image: Opinion
