.jpg)
8 hours ago
1
In a shocking turn of events, it was announced Wednesday night that Jeanie Buss and the Buss family would sell their majority ownership stake of the Los Angeles Lakers to TWG Global's CEO and chairman, Mark Walter, for a record-breaking valuation.
"The Buss family is entering into an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter at a franchise valuation of approximately $10 billion, sources told ESPN," ESPN's Shams Charania wrote Wednesday.
"It will mark the largest sale of a U.S. professional sports team all-time."
"Jeanie Buss will continue to serve in her role as Lakers governor, sources said."
After entering a historic $10 billion sale agreement with the Buss family, Walter's acquisition of majority ownership of the Lakers will be added to the list of Los Angeles-based franchise's he's claimed.
Walter is the current majority owner of the MLB's Los Angeles Dodgers, WNBA's Los Angeles Sparks and even the Cadillac Formula 1 team.
Follow The Sporting News on WhatsApp
Jerry Buss first purchased the Lakers in 1979 for a price tag of $67.5 million, and the storied organization now holds the highest valuation of any sports franchise in history.
Upon the completion of this agreement, the Lakers trounced the $6.1 billion purchase of the Boston Celtics by an ownership group led by the co-founder of Symphony Technology Group, Bill Chisholm, earlier this year.
The Lakers have claimed 17 NBA titles throughout their 78-year history, second all-time to the Celtics' 18 championship victories.
English (US)