The Los Angeles Lakers will have a new owner for the first time in almost five decades, and they sold for a record-setting price.
The Lakers will sell to Mark Walters for a record-setting deal of $10 billion. ESPN's Shams Charania broke the news via X.
"Mark Walter is entering agreement to purchase majority ownership of the Lakers from the Buss family for a valuation of approximately $10 billion, the largest sale of a professional sports franchise in the world, sources tell ESPN."
Walter is the CEO of diversified holding company TWG Global and chairman of the Los Angeles Dodgers.
This story will be updated....
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This story was originally published June 18, 2025 at 5:17 PM.