In a groundbreaking move that sends shockwaves through the sports world, the Los Angeles Lakers are being sold in a record-setting $10 billion deal, making them the most valuable sports franchise in U.S. history, ESPN reported Wednesday, MySportDab Reports.
The iconic NBA team’s controlling interest is being acquired by billionaire Mark Walter, CEO of TWG Global and co-owner of the Los Angeles Dodgers and Sparks.
The deal ends the Buss family’s 47-year reign over the Lakers, which began in 1979 when Dr. Jerry Buss purchased the team and helped transform it into a global brand and basketball powerhouse.
Although Jeanie Buss will remain the team’s governor, the transition of control marks the end of a dynasty that saw the Lakers claim 11 NBA titles under Buss family stewardship.
From the “Showtime” era led by Magic Johnson to the Kobe-Shaq dynasty of the early 2000s, the Buss legacy is deeply woven into the fabric of NBA history.
Walter, who became a minority owner in 2021 and held first refusal rights should the team ever go up for sale, now takes full control.
TWG Global’s sports empire already includes the Dodgers—winners of two World Series titles under his ownership—the Sparks, the Billie Jean King Cup, and the Cadillac Formula One team.
Lakers legend Magic Johnson, a longtime associate of Walter, praised the move. “Laker fans should be ecstatic,” Johnson posted on X. “Mark is driven by winning and will provide the resources to succeed.”
The $10 billion deal eclipses the previous U.S. sports team sale record set by the Boston Celtics at $6.1 billion earlier this year, which itself surpassed the $6.05 billion paid for the NFL’s Washington Commanders in 2023.
A new chapter begins in Los Angeles basketball history.
