The Buss family has agreed to sell a majority stake of the Los Angeles Lakers to businessman Mark Walter in a deal that values the team at $10 billion, according to people with knowledge of the terms.
The sale would mark a new record for NBA valuations. The Crypto.com Arena, where the Lakers play, is owned by AEG and is not included in the deal.
CNBC’s most recent Official NBA Team Valuations ranked the Lakers as third in the league in terms of value, at $7 billion.
“Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, which he has been a stakeholder since 2021,” a representative for Walter said in a statement to CNBC.
The Lakers did not immediately respond to a request for comment.
