Los Angeles Lakers set for sale as Chelsea co-owner strikes record-breaking takeover deal: Reports
In the most expensive transaction in American sports history, the Los Angeles Lakers have been purchased by Los Angeles Dodgers owner Mark Walter, for a deal worth approximately 10 billion US dollars. The Lakers were sold by the Buss family, who have held the controlling stake in the 17-time NBA champions for 46 years since 1979.
As per ESPN, the Buss family have agreed to sell their majority stake in the Lakers to Walter's holding company TWG Global. Walter already possessed a 20% stake in the Lakers, having bought a significant portion of former stakeholder Philip Anschutz's share in 2021.
The CEO of investment firm Guggenheim Partners now owns significant portions of control in most of Los Angeles' sports market, having been owner of the Los Angeles Dodgers in Major League Baseball since 2012. Since his ownership of the Dodgers, Walter has resuscitated the franchise, helping them to several World Series appearances as well as two titles, in 2020 and 2024.
Walter also owns the Los Angeles Sparks in the WNBA, who won the 2016 and 2017 titles under his stewardship. Beyond the American sports sphere, Walter was also an investor alongside Todd Boehly when the latter purchased Chelsea FC in the English Premier League, and owns just under 13% of the football club since the team was sold by Roman Abramovic in 2022. Walter is also the owner of the Cadillac F1 team, which will enter the highest level of the sport in 2026.
The Buss family is set to retain roughly 15% of an ownership stake in the Lakers, with current team governor Jeanie Buss also likely to remain in that position for the foreseeable future. The Lakers were bought by Jerry Buss in 1979 for 67.5 million dollars, and underwent the most successful spell in franchise history, including the 'Showtime Lakers' of Magic Johnson and Kareem Abdul-Jabbar, as well as the iconic Shaq-and-Kobe teams of the early 2000s.
Jeanie Buss took over ownership of the team in 2013 after her father's passing, and is expected to remain heavily involved in day-to-day duties at the franchise despite the sale of the majority ownership to Walter and TWG Global.
The 10-billion-dollar sale sets a new mark in American sports franchise valuation, with the Lakers outdoing their harsh rivals Boston Celtics, who were sold for a reported 6 billion US dollars earlier this year. As arguably the most recognisable franchise in the NBA, they join Walter's umbrella of sports franchises, and will be hoping for a similar boost as experienced by their cross-town contemporaries in the MLB and the WNBA.
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