Buss Family Sets Record with $10 Billion Majority Stake Sale of Los Angeles Lakers

The Buss family has consented to transfer majority ownership of the iconic Los Angeles Lakers, a celebrated sports institution, to Mark Walter, the proprietor of the Los Angeles Dodgers, according to a source with knowledge of the arrangement, as reported by CNN. The deal is valued at around $10 billion, marking the highest valuation for a professional sports franchise, per the Associated Press. ESPN’s Shams Charania initially reported this sale. Walter, who holds a minority stake in the Lakers since 2021, also serves as CEO and founder of TWG Global, which owns shares in various sports teams, including the WNBA's Los Angeles Sparks and Premier League’s Chelsea FC. Following Jerry Buss's acquisition of the Lakers in 1979, Jeanie Buss succeeded him as governor after his passing in 2013. The Lakers claimed their 17th NBA championship in 2020, and team president Rob Pelinka reported that LeBron James would assess roster improvements this offseason. Jeanie Buss is expected to maintain her role post-sale.