Prime Highlights
- Jeanie Buss sells controlling stake of Los Angeles Lakers to billionaire Mark Walter in record $10 billion sale.
- The sale is the most expensive in American sports history, surpassing all previous NBA franchise prices.
Key Facts
- Walter once held a 27% share and now owns majority control with the Buss family holding a minority stake.
- Jeanie Buss will remain team governor, offering stability in leadership.
Key Background
The storied Los Angeles Lakers officially entered a new age after Jeanie Buss sold the controlling stake in the team to billionaire investor Mark Walter. The record deal, which is valued at $10 billion, sets the stage for a record as the biggest purchase price of a United States professional sports franchise. The acquisition suggests both the global brand value of the Lakers and the size of the NBA’s franchise market growing.
Mark Walter, Guggenheim Partners CEO and co-founder, was a minority Lakers owner with 27% ownership. He also owns Los Angeles Dodgers, WNBA’s Los Angeles Sparks, and has a stake in Premier League club Chelsea FC. Walter had already picked up right of first refusal with a 2021 agreement, which he has now exercised to take control of the team.
Despite selling, team governor Jeanie Buss will continue to be there, providing stability of leadership during the transition. The Buss family, the owners of the Lakers since 1979, will hold a minority interest. The decision reportedly rested on internal trust family dynamics and strategy alignment that placed a priority on both legacy and competitiveness in the future.
One of the greatest franchises in the NBA, the Lakers, are undergoing a defining transformation. Walter, in command, is likely to usher in operation cutting-edge-ization, additional investment in analytics, and bold roster construction—following the same formula he applied to the Dodgers. Insiders feel this new ownership could signal the start of a competitive new era for the team to build a title-grade roster.
This $10 billion deal not only reflects the Lakers’ market standing but also marks a new direction in professional sport ownership wherein high-profile financiers are redefining the commercial and cultural dynamics of high-end franchises.
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