Los Angeles Lakers to Be Sold in Historic $10 Billion Deal
USA News, Los Angeles
The Los Angeles Lakers are set to undergo a major ownership change in what could become the most expensive sale in U.S. sports history.
According to a source familiar with the negotiations, the Buss family has agreed to sell a majority stake in the iconic NBA franchise to billionaire Mark Walter, CEO of TWG Global. The deal is reportedly valued at $10 billion (£7.45bn), though that figure may increase once finalized.
Walter, who already owns a 20% stake in the Lakers since 2021, also has controlling interest in Major League Baseball’s Los Angeles Dodgers, who clinched the World Series title last year. He also holds investments in Chelsea Football Club and the Cadillac Formula 1 Team, which is expected to debut in 2026.
A spokesperson for Walter confirmed the deal, stating:
“Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers.”
This sale eclipses the recent high-profile sports team purchases:
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Boston Celtics sold to Bill Chisholm in March for $6.1 billion
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Washington Commanders sold in 2023 for $6.05 billion
Founded in 1947 and purchased by Jerry Buss in 1979 for $67.5 million, the Lakers have since become one of the most successful and recognizable franchises in global sports, winning 11 NBA championships under Buss family ownership and appearing in 17 NBA Finals.
After Jerry Buss passed away in 2013, the team was placed in a family trust split among his six children. Jeanie Buss, who has served as team governor since, is expected to retain her role under the new ownership structure.
The Los Angeles Times reports that any sale required approval from a majority of the siblings involved in the trust.
NBA legend Magic Johnson, a former Lakers co-owner, voiced his support for the deal, praising both Jeanie Buss and Mark Walter:
“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.”
As the deal moves forward, the Lakers—currently led by LeBron James—are poised for a new chapter in their storied history.
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