Lakers to Be Sold in Record-Breaking $10 Billion Deal -The Biggest Deal in U.S. Sports

The Los Angeles Lakers are being sold for a huge $10 billion, which will become the most expensive sale in U.S. sports history, according to ESPN. This deal will make the Lakers the most valuable sports team in American history.

The Buss family, who have owned most of the team for many years, will hand over control to billionaire businessman Mark Walter. He already owns a small part of the team. Walter is the CEO of TWG Global, a company that invests in sports and owns parts of many big teams and leagues around the world.

Big Change for the Lakers

This deal ends 46 years of the Buss family running the Lakers. The late Dr. Jerry Buss bought the team in 1979 and made it one of the most successful and famous teams in the NBA. Under the Buss family, the Lakers won 11 NBA championships and had famous players like Magic Johnson, Kobe Bryant, and LeBron James.

Even though the Buss family is selling the team, Jeanie Buss will remain as Governor of the Lakers and continue to be involved in running the team.

Who Is Mark Walter?

Mark Walter knows a lot about Los Angeles sports. As the CEO of TWG Global, he helps lead several sports teams, including:

• Los Angeles Dodgers (Baseball)
• Los Angeles Sparks (Women’s Basketball)
• Chelsea FC (English Soccer)
• Cadillac Formula One Team
• Billie Jean King Cup (Tennis)

His group helped turn the Dodgers into a winning team with multiple World Series appearances and a championship. Most recently, they made headlines by signing baseball star Shohei Ohtani in a record-breaking $700 million deal.

Walter has owned part of the Lakers since 2021. As part of that deal, he had the first chance to buy the team if the Buss family ever wanted to sell.

Magic Johnson Shares His Thoughts

Former Lakers star and NBA legend Magic Johnson said he was very happy about the sale. Johnson, who works with Walter in business, posted on X (formerly Twitter):

“Laker fans should be excited. Mark cares about winning and doing things the right way… He’s the best person to take care of the Laker brand.”

He also said Walter did a great job with the Dodgers and believes he will do the same with the Lakers.

The End of One Era and the Beginning of Another

This deal marks the end of an incredible time in basketball. Under Jerry Buss and his family, the Lakers became more than a basketball team; they became a part of American culture. From the exciting “Showtime” years in the 1980s to the Kobe and Shaq era in the 2000s, and the recent championship with LeBron James in 2020, the Lakers have always stood for success.

Earlier this year, the Lakers also made a big move by getting Luka Dončić from the Dallas Mavericks, showing they still aim to win championships.

New Record for U.S. Sports Teams

The $10 billion sale is much more than any other U.S. sports team has ever been sold for. Earlier this year, the Boston Celtics were sold for $6.1 billion, breaking the previous record of $6.05 billion when the Washington Commanders were sold in 2023.

Now, with this huge deal, the Lakers have officially become the most valuable sports team in the United States.