The Buss family has reached an agreement to sell the controlling interest of the Los Angeles Lakers to TWG Global CEO Mark Walter, with the franchise valued at $10 billion — a record figure for any professional sports team, according to a person familiar with the deal.
According to the Associated Press and ESPN, Jeanie Buss, who has served as team governor and whose family has controlled the Lakers since 1979, will retain her role under the new ownership structure. The person spoke to The Associated Press on the condition of anonymity, as details of the deal have not been officially announced by either party.
Walter, a co-owner of the Dodgers and CEO of Guggenheim Partners, already owns a 27% stake in the Lakers as part of a 2021 investment group. It remains unclear how much additional ownership he will assume through this transaction. Buss is expected to maintain at least a 15% share — the NBA’s minimum threshold for team governors.
Walter is known for maintaining a low profile despite his vast financial influence. Guggenheim Partners, which he leads, manages more than $325 billion in assets. NBA legend Magic Johnson is among the firm’s investors.
The blockbuster Lakers sale comes just months after a pending $6.1 billion deal for the Boston Celtics, which would have set a record for North American sports franchises. That deal, however, is still awaiting final approval from the NBA’s board of governors, which is scheduled to meet in Las Vegas next month.
