12 hours ago
Lakers reported sale smashes records
The long-time owners of the Los Angeles Lakers — the Buss family — have agreed to sell the controlling stake of the franchise in a deal that values the franchise at $10 billion, ESPN's Shams Charania first reported.
Why it matters: This would be the most ever paid for a pro sports team, topping the recent Boston Celtics sale agreement, Axios Pro Rata author Dan Primack notes.
Between the lines: The number probably could have been even higher had the Buss family launched a full-fledged sale process.
Instead, the Buss family is said to have negotiated exclusively with Mark Walter, who bought a minority stake in 2021 in a deal that included a right of first refusal on any control sale.
