The Los Angeles Lakers, a franchise synonymous with the Buss family for decades, are reportedly selling majority ownership to Mark Walter at an approximate $10 billion valuation. According to ESPN’s Shams Charania, Jeanie Buss will remain as team governor following the sale.
Mark Walter, CEO and chairman of TWG Global, has been a minority stakeholder in the franchise since 2021 and is also involved with other sports organizations such as the Los Angeles Dodgers, Sparks, Cadillac Formula 1 team, and Professional Women’s Hockey League. The Buss family purchased the Lakers in 1979 for $67.5 million, transforming them into one of the most famous sports franchises.
The franchise has a rich history, having won five championships from 1980 to 1991 under Magic Johnson, Kareem Abdul-Jabbar, and Pat Riley, followed by three-peated titles in 2000, 2001, and 2002 with Shaquille O’Neal and Kobe Bryant. More recent success came in 2020 with LeBron James and Anthony Davis leading the team to a championship.
The high valuation of $10 billion is a testament to the Lakers’ legacy, but it marks a significant shift in ownership. Jeanie Buss’s leadership and the team’s continued success will be watched closely as they begin this new chapter under Mark Walter’s majority stake.
Source: https://bleacherreport.com/articles/25210057-buss-family-reportedly-sell-lakers-majority-stake-mark-walter-10b-valuation