Mark Walter, the controlling owner of the Los Angeles Dodgers, is acquiring a majority ownership stake in the Los Angeles Lakers, in a deal valued at approximately $10 billion, marking the highest valuation for a professional sports franchise.
The transaction involves Walter and TWG Global purchasing the stake, culminating the family-run control of the Lakers that began when Jerry Buss acquired the team in 1979.
The Buss family, who have owned the franchise for over four decades, will see the governance of the team transition, but Jeanie Buss is anticipated to continue her role as the team’s governor under the sale agreement.