US EditionDodgers Owner To Purchase Majority Ownership of Los Angeles Lakers: Report
- The Los Angeles Lakers agreed on Wednesday to sell majority ownership to Mark Walter for approximately $10 billion in Los Angeles.
- The Buss family, which has controlled the Lakers since Jerry Buss bought the team for $67.5 million in 1979, decided to sell after Walter acquired a 27% stake in 2021.
- Mark Walter, CEO of TWG Global and current owner of the Dodgers and Sparks, will take majority control while Jeanie Buss will stay as team governor.
- The $10 billion price tag surpasses the previous $6.1 billion valuation held by the Boston Celtics, setting a new high for the sale of a professional sports franchise.
- This sale ends a 46-year Buss family era and positions Walter, praised by Magic Johnson for his winning focus, to lead the Lakers franchise forward.
305 Articles
305 Articles
With The Lakers Sale, The NBA's Old Ownership Class Is Nearly Extinct
For the first time in American sports history, a team has been sold on an 11-figure valuation. News broke Wednesday that the Buss family has agreed to sell a controlling share of Los Angeles Lakers to Mark Walter of TWG Global and Guggenheim Partners in a deal valuing the franchise at $10 billion. That is the largest-ever valuation at sale for a North American sports franchise, smashing the high-water mark recently set by the private equity guy …
From Wall Street to Courtside: Who Is the Billionaire Behind LA’s Biggest Sports Takeover? - Asian Journal News
Mark Walter at the White House at an event celebrating the 2024 World Series Champion Los Angeles Dodgers (Photo from The White House) Mark Walter, the billionaire behind Guggenheim Partners and the Dodgers, has acquired a majority stake in the Lakers in a historic deal that is reshaping the landscape of Los Angeles sports. LOS ANGELES – With his recent $10…
It is the most expensive sale ever. After 46 years, the Buss sell the franchise to billionaire Walter.
Lakers' Fans Reeling Following Buss Family Announcement to Sell to Dodger Owner Mark Walter
Basketball fans in the Southland were still buzzing Thursday following a bombshell report that the Buss family has agreed to sell its majority ownership of the Lakers to Dodger controlling owner Mark Walter and TWG Global for a record valuation of about $10 billion. ESPN first broke the story Wednesday, citing unnamed sources, and reported that Jeanie Buss will stay on as the team’s governor — though few other details were released beyond the ey…
PBS NewsHour
BizTocBuss family to sell controlling stake of Lakers to Mark Walter at $10B valuation, source tells AP
The Buss family has agreed to sell the controlling stake of the Los Angeles Lakers to TWG Global CEO and Los Angeles Dodgers owner Mark Walter, doing so with a franchise valuation of $10 billion — the highest ever for a professional sports franchise, a person with knowledge of the agreement said Wednesday.
Meet Mark Walter, the man poised to buy the LA Lakers in a record-setting $10 billion deal
Jon Putman/Anadolu via Getty ImagesCEO and major sports investor Mark Walter is slated to buy the Los Angeles Lakers for $10 billion.The sale breaks the record for most expensive worldwide, surpassing the $6.1 billion Boston Celtics deal.Walter is also primary owner of the LA Dodgers and WNBA's Sparks, and a founding investor in the PWHL.Billionaire Mark Walter, CEO of asset manager and brokerage firm Guggenheim Partners and a major investor in …
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