NBA Milestone: Lakers Sold in Biggest Franchise Deal in U.S. Sports History
The Los Angeles Lakers are set to be sold in a record-breaking $10 billion deal, making the NBA giants the most valuable sports team in U.S. history, according to ESPN. The Buss family, who have owned the franchise for 46 years, will hand over controlling interest to billionaire investor Mark Walter, who already owns a minority stake in the team. Jeanie Buss will remain as the Lakers’ governor despite the ownership change.
Mark Walter, CEO of TWG Global, brings a robust sports investment portfolio to the table, including ownership in the Los Angeles Dodgers, Los Angeles Sparks, English Premier League’s Chelsea FC, the Billie Jean King Cup, and the Cadillac Formula One team. Lakers legend Magic Johnson, a business partner of Walter’s, welcomed the sale, calling Walter a results-driven leader who will invest heavily in success, much like he did with the Dodgers, who have won two World Series titles under his watch and recently signed Shohei Ohtani in a historic $700 million deal.
This sale marks the end of an era for the Lakers, originally purchased in 1979 by Jerry Buss, whose leadership saw the franchise win 11 NBA titles and rise to global prominence through the “Showtime” era, the Kobe-Shaq dynasty, and more recently with LeBron James. Walter’s purchase surpasses previous U.S. sports franchise records, including the Boston Celtics’ $6.1 billion sale earlier this year and the $6.05 billion paid for the NFL’s Washington Commanders in 2023.
The Lakers’ new chapter under Walter begins with high expectations and hopes of continued dominance on and off the court.
