Los Angeles, California — The Buss family has reportedly reached an agreement to sell the majority stake in the Los Angeles Lakers, one of the NBA’s most iconic franchises, to Mark Walter, owner of the Los Angeles Dodgers. The deal is valued at approximately $10 billion, which would make it the largest sale for a professional sports team to date.

Mark Walter, who is also the CEO and founder of TWG Global, will take control of the Lakers as part of this historic transaction. Having previously owned a minority interest in the team since 2021, Walter’s acquisition would mark a significant expansion of his sports portfolio, which includes stakes in other franchises like the WNBA’s Los Angeles Sparks and Chelsea FC of the Premier League.

The sale underscores the soaring value of NBA franchises in recent years. As interest in professional basketball continues to rise globally, franchises are drawing astronomical valuations that reflect their brand strength and market potential. This deal, once finalized, will set a new benchmark in the sports industry.

The Lakers have a rich history, having been under the management of Jerry Buss since 1979. Under his leadership, the team won 10 NBA championships, solidifying its status as a powerhouse in the league. After his passing in 2013, his daughter Jeanie Buss took over as governor, maintaining the team’s competitive spirit and legacy. She is expected to remain involved with the franchise post-sale.

In more recent seasons, the Lakers have remained competitive, clinching their latest NBA championship in 2020, guided by the talents of superstar LeBron James. Last season, the team finished third in the Western Conference but was eliminated in the first round of the playoffs by the Minnesota Timberwolves.

Walter’s extensive business acumen is expected to further elevate the franchise. His company, TWG Global, not only holds shares in various sports entities but also is involved in diverse sectors, enhancing its financial stability. This acquisition signals a robust future for the Lakers, who are poised to navigate the challenges of an evolving league landscape.

As the Lakers adapt to this new chapter, fans are eager to see how the incoming ownership will influence the team’s direction and roster decisions. LeBron James, who recently signed a two-year contract worth $104 million, will likely play a key role in shaping the team’s future. With team president Rob Pelinka indicating a focus on roster enhancement, the structure of the Lakers could experience notable changes in the upcoming season.