Los Angeles Lakers, sold for $10 billion, a record in American sports

Seattle (USA) (EFE).- Businessman Mark Walter has reached an agreement with the Buss family, owners of the Los Angeles Lakers of the NBA, to acquire a majority stake in the franchise, valued at 10 billion dollars, according to ESPN.

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This enormous figure breaks the record for the purchase of a team in the United States, until now registered in the transaction of the Boston Celtics in March with 6.1 billion dollars. Three months later, the Lakers are sold for 64% more.
It’s the end of an era for the NBA, as the Buss family had controlled the Lakers since 1979. The Grousbeck family had owned the Celtics since 2002.

Los Angeles Lakers, NBA emblem

Mark Walter is the CEO and Chairman of the investment firm TWG Global and has holdings in several sports teams, such as the Los Angeles Dodgers of MLB, the Los Angeles Sparks of the WNBA, or the Cadillac Formula 1 team, which debuts in 2026.

He also had a minority stake in the Lakers since 2021. Jerry Buss bought the Lakers in 1979 for $67.5 million in a package that included the NHL’s Los Angeles Kings and the former stadium, the Los Angeles Forum. In 2013, with the death of the patriarch, the franchise passed to his children, with Jeanie Buss taking over. With the Buss family in charge, the Lakers have won 11 rings, more than any other team since 1985. According to ESPN, Jeanie Buss will remain as governor of the Lakers for the time being.