The Los Angeles Lakers will be sold for $10 billion in the biggest sports team sale ever. Mark Walter will buy the majority stake from the Buss family who controlled the team since 1979. Walter already owns part of the Lakers and runs the Los Angeles Dodgers baseball team.
The Buss family paid $67.5 million for the Lakers 46 years ago. Jerry Buss died in 2013 and left the team to his six children through a trust. Jeanie Buss leads the franchise and will keep her job after the sale happens.
The Lakers won 11 championships under Buss family control. LeBron James plays for the team but they lost in recent playoffs. Walter also invests in Chelsea soccer club and a Formula 1 racing team.
The Boston Celtics sold for $6.1 billion earlier this year. The Washington Commanders football team went for $6.05 billion in 2023. The Lakers deal beats both previous records by about $4 billion.
Magic Johnson praised the sale and said Walter will help the Lakers win more titles. The former star called both Walter and Jeanie Buss smart leaders who care about Los Angeles. Walter needs approval from most Buss children to complete the purchase.
The Buss family paid $67.5 million for the Lakers 46 years ago. Jerry Buss died in 2013 and left the team to his six children through a trust. Jeanie Buss leads the franchise and will keep her job after the sale happens.
The Lakers won 11 championships under Buss family control. LeBron James plays for the team but they lost in recent playoffs. Walter also invests in Chelsea soccer club and a Formula 1 racing team.
The Boston Celtics sold for $6.1 billion earlier this year. The Washington Commanders football team went for $6.05 billion in 2023. The Lakers deal beats both previous records by about $4 billion.
Magic Johnson praised the sale and said Walter will help the Lakers win more titles. The former star called both Walter and Jeanie Buss smart leaders who care about Los Angeles. Walter needs approval from most Buss children to complete the purchase.
