Historic Change: Los Angeles Lakers Sold in Record-Breaking Deal

The Buss family is set to end its iconic reign over the Los Angeles Lakers as they agree to sell a majority stake to Mark Walter, ESPN has reported. This sale marks a historic moment in professional sports, valuing the Lakers at $10 billion, the highest-ever for a sports team.

Mark Walter, known for his leadership in Los Angeles sports and existing shares in the Los Angeles Dodgers and Sparks, will assume majority ownership. The Lakers organization has yet to comment on the transition, which aligns with Jeanie Buss continuing as governor.

Celebrated figures like Magic Johnson lauded the sale, emphasizing Walter's commitment to victory and excellence, while paying tribute to Jeanie Buss's strategic decision-making in preserving the Lakers' storied legacy.

(With inputs from agencies.)