Buss family selling Los Angeles Lakers

The Buss family, which has run the Lakers for 46 years, is selling a majority stake for a valuation of $10 billion.

Control of one of the highest-profile and most valuable professional sports teams in the world is changing hands.

The Buss family, which has run the Los Angeles Lakers for 46 years, is selling a majority stake in the iconic NBA franchise for a valuation of $10 billion to Mark Walter, who had owned a minority stake, multiple sources confirmed to NBC News.

It would be the second glamorous Southern California franchise in which Walter, the chief executive of TWG Global, has a controlling interest; an ownership group he leads has owned the Los Angeles Dodgers since 2012.

"Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021," a spokesperson for Walter wrote by email.

Should the NBA approve the sale, it would be the first time since 1979, when Jerry Buss bought the Lakers for $67.5 million, that the Buss family no longer controls the team that has won 17 NBA championships, second-most all time, including 11 under the family’s ownership. Upon Jerry Buss' death in 2013, control of the team transferred to a family trust, and his children have run the team since then, led by daughter Jeanie Buss. The family held a 66% stake in the team.

https://www.nbcnews.com/sports/nba/buss-family-selling-los-angeles-lakers-source-rcna213861


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Updated: 1 month ago
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