Valuation is the highest ever for a professional sports franchise, easily eclipsing the US$6.1 billion for Boston Celtics
The Buss family has agreed to sell the controlling stake of the Los Angeles Lakers to TWG Global CEO Mark Walter, doing so with a franchise valuation of $10 billion – the highest ever for a professional sports franchise.
Multiple media reports said that as part of the deal, Jeanie Buss, whose family has had control of the Lakers since her father bought the team in 1979, intends to remain as team governor.
It was not clear how much more of the Lakers that Walter would acquire. He was part of a group that bought 27 per cent of the Lakers in 2021. Jeanie Buss would still own at least 15 per cent of the Lakers once this transaction was completed; by NBA rule, a governor must have at least that much of an ownership stake.
Your personal data will be processed and information from your device (cookies, unique identifiers, and other device data) may be stored by, accessed by and shared with 90 TCF vendor(s) and 19 ad partner(s), or used specifically by this site or app.
