Lakers sold for $10 billion: a historic record in world sports

Breaking news in Los Angeles! After more than 45 years of reign, the Buss family has reached an agreement to sell their majority stake in the Lakers to Mark Walter, CEO of TWG Global holding, for a record amount of $10 billion. This transaction shatters all records for sports team sales in history.

The sale of the Lakers far exceeds the previous record held by the Boston Celtics, sold last March for $6.1 billion. This capital gain is even more impressive considering Jerry Buss acquired the franchise in 1979 for only $67.5 million, in a transaction that also included the Los Angeles Kings and the former venue, the Forum.

Mark Walter, a familiar name in California sports

Mark Walter is no stranger to Lakers fans and LA sports. A minority shareholder in the franchise since 2021, his TWG Global holding already owns stakes in several sports organizations, including the Los Angeles Dodgers, Los Angeles Sparks, and the Cadillac Formula 1 team.

Jeanie Buss will retain her position as franchise governor despite this historic sale, ensuring continuity in the organization’s leadership. The Buss name will forever remain synonymous with success for the Lakers, who won 11 NBA championships in 17 finals appearances during this legendary era.

Magic Johnson, an iconic figure of the franchise, expressed enthusiasm about this transaction: « Lakers fans should be thrilled, » he stated on social media, highlighting the similarities between Jeanie Buss and Walter, and his confidence in the organization’s continued success.

This sale comes at a strategic time for the NBA, with the arrival of a new TV rights deal worth $76 billion over 11 years. Walter inherits a team still led by LeBron James, with the recent addition of Luka Dončić, positioning the Lakers as serious title contenders in the years to come.