Historic Lakers Sale: A New Era with Mark Walter at the Helm
The Buss family has agreed to sell a majority stake in the Los Angeles Lakers to TWG Global CEO Mark Walter, while Jeanie Buss remains team governor. The deal values the NBA team at $10 billion, marking the largest sale of a sports franchise. The transaction closes by 2025.
In a significant development for the Los Angeles Lakers, the Buss family announced they are selling a majority stake to Mark Walter, CEO of TWG Global. Jeanie Buss will continue to serve as governor of the iconic NBA team.
This record-breaking transaction values the Lakers at an impressive $10 billion, making it the largest-ever sale of a professional sports franchise. While the financial terms remain undisclosed, the sale highlights the enduring legacy and brand strength of the 17-time NBA champions.
Mark Walter, who already has stakes in other top Los Angeles teams, is no stranger to the sports realm. His agreement to purchase a larger share of the Lakers underscores his shared vision and commitment to maintaining the team's esteemed reputation. The completion of the sale is expected by the end of 2025, pending standard approvals.
(With inputs from agencies.)
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