LA Lakers to be sold in record-breaking $10 Billion deal in basketball
The Los Angeles Lakers are set to be sold in a historic $10 billion transaction, making the iconic NBA franchise the highest-valued sports team in U.S. history, according to ESPN. The deal will see the Buss family sell their controlling stake to billionaire investor Mark Walter, who already holds a minority share in the team. While Jeanie Buss will remain the Lakers’ governor, the agreement ends the family’s 46-year reign over the franchise. Walter is the CEO of TWG Global, a holding company with a growing portfolio of professional sports assets. These include the Los Angeles Dodgers, the Los Angeles Sparks, and a stake in Premier League club Chelsea. TWG also owns the Billie Jean King Cup and the Cadillac Formula One team. Though full details of the agreement have not been disclosed, Lakers legend Earvin “Magic” Johnson — a longtime business partner of Walter — praised the move. “Laker fans should be ecstatic,” Johnson posted on X. “Mark is driven by wi...
