The Buss family has reportedly agreed to sell the majority ownership of the Lakers to Dodgers chairman Mark Walter, the CEO of Guggenheim Partners.
ESPN first reported the sale on Wednesday afternoon, adding that Jeanie Buss will continue to be the franchise’s governor.
Walter has interests in multiple professional sports organizations, including the Dodgers, the WNBA’s Sparks, Premier League soccer club Chelsea FC and the Cadillac Formula 1 team.
The Lakers have been owned by the Buss family since 1979, when Jerry Buss purchased the franchise from Jack Kent Cooke in a $67.5 million transaction that also included the NHL’s Kings and the Forum in Inglewood.
The Buss family has owned the Lakers since 1979, when the late Jerry Buss bought the franchise from Jack Kent Cooke for $67.5 million — a transaction that included the NHL’s Kings and the Forum in Inglewood.
Lakers’ ownership was passed to his children after he died in 2013, with Jeanie being the franchise’s governor since.
Walter has been a stakeholder in the Lakers since 2021, when he also received a right of first refusal on the majority share of the team.
The sale has the Lakers’ valuation around $10 billion, according to multiple media reports, which is the largest for a North American sports franchise and exceeds the $6.1 billion valuation for the Boston Celtics earlier this year.
Much more to come on this story.