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16h ago

Buss Family to Sell Majority Stake in Lakers to Mark Walter at $10 Billion

The sale is pending NBA approval with Jeanie Buss set to continue as team governor

Walter, the controlling owner and chairman of the Los Angeles Dodgers, is also the CEO of TWG Global.
Feb 10, 2025; Los Angeles, California, USA; Owner and president of the Los Angeles Lakers Jeanie Buss attends the game against the Utah Jazz at Crypto.com Arena. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images/File Photo
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Overview

  • The agreement values the Lakers at $10 billion, surpassing the previous North American sports franchise record
  • Mark Walter, CEO of TWG Global and co-owner of the Dodgers and Sparks, will move from minority to majority owner
  • Jeanie Buss will retain her role as governor as the family keeps just over 15 percent ownership
  • The transaction ends a 46-year Buss family tenure that began when Jerry Buss bought the team for $67.5 million in 1979
  • Final sign-off by the NBA Board of Governors is required before control officially shifts