Lakers being sold in record $10 billion deal, reports say | LiveNOW from FOX
It is reportedly the end of an era for the Buss family and Los Angeles sports.On Wednesday, ESPN reported that the Buss family agreed to sell majority ownership of the Los Angeles Lakers to Mark Walter.
Walter is the CEO and chairman of TWG Global. If his name sounds familiar, Walter also happens to own the LA Dodgers and Sparks, as well as the Billie Jean Cup, the Cadillac Formula One team and the Professional Women's Hockey League.
Jeanie Buss will reportedly maintain her role as Lakers governor, sources told the sports publication.
The sale is reportedly valued at $10 billion.
The great Dr. Jerry Buss first purchased the Lakers in 1979 from Jack Kent Cooke for $67.5 million.
He maintained ownership of the team until his passing in 2013 and during that time, the Lakers won 10 NBA championships, as highlighted by the "Showtime Lakers" era.
Buss' legacy was passed onto his children and his daughter, Jeanie, became controlling owner.
The Lakers last won a title in 2020 during an unprecedented season that included a social justice movement and the passing of Kobe Bryant.
After a short-lived playoff run during the 2024-25 season under new head coach JJ Redick, the Lakers are tasked with handling the final years of LeBron James' career, as well as the rise of international superstar, Luka Dončić.
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