Particle.news
Download on the App Store
159 ARTICLES
·
3h ago

Mark Walter to Acquire Majority Stake in Lakers in Record $10 Billion Deal

Pending NBA approval, Jeanie Buss will remain governor of a team now valued at $10 billion under Mark Walter’s leadership.

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
Image
Image

Overview

  • The deal, first reported by ESPN, sets a new record for a U.S. sports franchise valuation at $10 billion, eclipsing the Boston Celtics’ $6.1 billion sale earlier this year.
  • Jeanie Buss will remain the team’s governor and the family will retain just over a 15 percent stake under the new ownership arrangement.
  • Mark Walter, who became a minority owner in 2021, is CEO and chairman of TWG Global and controls stakes in the Los Angeles Dodgers, Los Angeles Sparks, Professional Women’s Hockey League and Cadillac Formula One team.
  • Final approval from the NBA’s board of governors is required before the sale can close, a process expected to conclude in the coming months.
  • The transaction ends the Buss family’s 46-year tenure, during which the franchise won 11 NBA championships under Jerry and Jeanie Buss’s leadership.