Buss Family to Sell Majority Stake of the Lakers to Dodgers' Owner Mark Walter

The Buss family is reportedly entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global. Jeanie Buss will continue to serve in her role as Governor after the sale.

Walter is also the lead owner of the Los Angeles Dodgers, as well as an investor in the English Premier League club, Chelsea FC. He has also been an investor in the Lakers since 2021.

The Buss family has been in control of the Lakers since 1979 when Jerry Buss bought the Lakers from Jack Kent Cooke for $67.5 million, and the franchise passed to his children when he passed away in 2013. Now the iconic, 17-time championship organization is entering an agreement to sell majority interest.

Walter’s purchase of majority ownership of the Lakers from the Buss family has a reported valuation of approximately $10 billion, the largest sale of a professional sports franchise in the world.

This is a developing story and will be updated.

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