Buss family reportedly to sell majority ownership of the Los Angeles Lakers to Mark Walter in record $10 billion deal
After more than four decades under the Buss family, the Los Angeles Lakers are changing hands.
The Buss family is entering an agreement to sell majority ownership of the NBA franchise to Mark Walter, who is the CEO and chairman of TWG Global, according to ESPN's Shams Charania. Walter is also the primary owner and chairman of the Los Angeles Dodgers, and he owns stakes in Chelsea in the English Premier League, an F1 team and the WNBA's Los Angeles Sparks, among other things. He currently holds a minority stake of 26% in the Lakers, too.
The deal is expected to have a valuation of approximately $10 billion, which makes it the largest sale of a professional sports franchise in the world.
The Buss family reportedly will keep a minority share of about 15% for at least some time. Jeanie Buss, who has been the team's governor since 2013, will continue in that role for the foreseeable future after the sale.
https://sports.yahoo.com/nba/breaking-news/article/buss-family-reportedly-to-sell-majority-ownership-of-the-los-angeles-lakers-to-mark-walter-in-record-10-billion-deal-205402670.html