Buss family agrees to sell Lakers to Mark Walter at $10B valuation

The Buss household is coming into into an settlement to promote majority possession of the Los Angeles Lakers to Mark Walter at a franchise valuation of roughly $10 billion, sources informed ESPN.It’s going to mark the most important sale of a U.S. skilled sports activities group all-time.Prime U.S. Sports activities Franchise SalesFranchisePriceYearLakers*$10B2025Celtics$6.1B2025Commanders$6.05B2023Broncos$4.65B2022Suns, Mercury$4B2025Mets$2.4B2020Nets$2.35B2019Panthers$2.275B2018Rockets$2.2B2019*settlement entered into, per sources– ESPN ResearchJeanie Buss will proceed to serve in her position as Lakers governor, sources stated.Walter, the CEO and chairman of diversified holding firm TWG International, has pursuits in a number of skilled sports activities organizations, together with the Los Angeles Dodgers, Los Angeles Sparks, the Billie Jean Cup, Cadillac Method 1 group and the Skilled Girls’s Hockey League.The Lakers have been owned by the Buss household since 1979, when Jerry Buss bought the franchise from Jack Kent Cooke in a $67.5 million transaction that additionally included the Los Angeles Kings and the Los Angeles Discussion board. Since 1980, the Lakers have received 11 championships, probably the most by any NBA group throughout that span.The Lakers handed to Buss’ youngsters when he died in 2013, and his daughter Jeanie has served because the Lakers’ governor since.Mark Walter has been controlling proprietor of the Dodgers since 2012, when his funding group bought the MLB franchise for $2 billion. He has pursuits in a number of skilled sports activities organizations, together with the Sparks, Cadillac Method 1 group and PWHL. Kirby Lee/USA TODAY SportsWalter has been a stakeholder within the Lakers since 2021, when he additionally obtained a proper of first refusal on the bulk share of the group.The upcoming sale was preceded by two of Jeanie Buss’ closest confidants within the NBA governors group agreeing to gross sales for his or her groups prior to now two years: Mark Cuban bought a majority stake within the Dallas Mavericks for $3.5 billion, whereas Wyc Grousbeck bought the Boston Celtics for $6.1 billionESPN’s Ramona Shelburne and Dave McMenamin and ESPN Analysis contributed to this report.