The Buss family, which owns a majority stake in the legendary Los Angeles Lakers basketball club, is entering into an agreement to sell a controlling stake in the franchise (team and brand) to businessman Mark Walter. According to ESPN, the deal is estimated to be worth approximately $10 billion, the highest amount ever paid for a professional sports team in the United States.
According to the publication’s sources, the Buss family will retain a minority stake in the team, slightly more than 15%, for a specific period.
A key aspect of the deal is that Jeanie Buss will remain the controlling owner of the Lakers and will continue to manage the team for at least several years. This was guaranteed as part of the deal, and Mark Walter fully supported this plan.
Mark Walter, CEO and chairman of diversified holding company TWG Global has been a shareholder in the Lakers since 2021 when he acquired a 26% stake from Phil Anschutz. At that time, Walter also received a preemptive right to purchase a controlling stake in the franchise.