The iconic L.A. Lakers basketball franchise will soon be under new ownership.
On Wednesday, ESPN's Shams Charania reported that the Buss family is entering an agreement to sell majority ownership of the Lakers. Jeanie Buss will continue to serve in her role as Governor after the sale.
The L.A. Lakers were founded in 1946, and have won the second-most championships in NBA history.
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Who will become the new owner of the Los Angeles Lakers?
LA Dodgers lead owner Mark Walter shakes hands with Shohei Ohtani.
The Buss family is selling the iconic franchise to LA Dodgers lead owner Mark Walter.
Walter, who is the CEO and Chairmain of diversified holding company TWG Global, is also an investor in Chelsea FC and has interests in the WNBA's Los Angeles Sparks, the Billie Jean Cup, the Cadillac Formula 1 team and more. He has been a minority stakeholder in the Lakers since 2021. Forbes has valued his networth at $6.1 billion.
According to Charania, the deal will be worth approximately $10 billion USD — the largest sale of a professional sports franchise in the world. Jerry Buss, who originally bought the Lakers back in 1979, spent $67.5 million to acquire the franchise, passing it along to his children following his death in 2013.
The Boston Celtics, arguably the NBA's second-most iconic franchise, sold recently for $6.1 billion.