Latest news with #then-NBA
News18
4 hours ago
- Business
- News18
Los Angeles Lakers To Be Sold At Record-Breaking $10 Billion Valuation: Report
Last Updated: The Los Angeles Lakers are reportedly being sold for $10 billion to Mark Walter, ending the Buss family's four-decade stewardship. In a moment that feels both historic and bittersweet, the Los Angeles Lakers are set to be sold at a staggering $10 billion valuation, shattering all previous records for the sale of a professional sports franchise. After more than four decades of family stewardship, the Buss family has agreed to sell its controlling interest in the Lakers to Mark Walter, CEO of TWG Global and principal owner of the Los Angeles Dodgers. The sale marks the end of an era in 1979, when Dr. Jerry Buss purchased the franchise and transformed it into a global powerhouse. Though control of the team is changing hands, Jeanie Buss — who carried her father's legacy forward after his passing — will remain deeply involved. She will continue in her role as team governor, according to AP. The precise share Walter is acquiring remains unclear. He was already part of a group that purchased 27% of the Lakers in 2021. What is certain, however, is that Jeanie Buss will retain at least a 15% ownership stake — the minimum required by NBA rules to remain team governor. Mark Walter, whose sports ventures already include the Dodgers, Premier League club Chelsea, the Professional Women's Hockey League, and several racing teams under TWG Motorsports — including Cadillac Formula 1 — brings with him a reputation for ambition, vision, and a deep respect for tradition. For Lakers guard Luka Doncic, the transition is a moment filled with both hope and gratitude. 'The Lakers are an amazing organization. I'm looking forward to meeting Mark and excited about the future," he wrote on social media Thursday. 'I am also grateful to Jeanie and the Buss family for welcoming me to LA, and I'm happy that Jeanie will continue to be involved." Other Notable NBA Team Transactions In Recent History The cross-country rival Boston Celtics went for $6.1 billion just three months ago. With team values soaring, there have been a number of notable franchise transactions in recent years: Boston Celtics The Celtics, who won their record 18th NBA championship last year, went for $6.1 billion in March to private equity mogul Bill Chisholm. Phoenix Suns Mortgage executive Mat Ishbia purchased the team for a then-NBA record $4 billion in 2022. Dallas Mavericks Mark Cuban sold the NBA franchise in 2023 for $3.5 billion to the Adelson family, which owns the Las Vegas Sands casino company. Charlotte Hornets Michael Jordan agreed to sell his majority share in the NBA's Hornets in 2023 for $3 billion to Rick Schnall and Gabe Plotkin. Schnall had a minority ownership in the NBA's Atlanta Hawks, and Plotkin in the Hornets. (with agency inputs) First Published: June 20, 2025, 08:32 IST
Fox Sports
9 hours ago
- Business
- Fox Sports
Top 10 Richest Team Purchases: Lakers Sell for Record $10 billion
The family-owned Los Angeles Lakers are about to be sold at a valuation of $10 billion, smashing the previous record for the purchase price for a team sport. The cross-country rival Boston Celtics went for $6.1 billion just three months ago. With team values soaring, there have been a number of notable franchise transactions in recent years: Los Angeles Lakers The Lakers have been in the Buss family since 1979, but Jeanie Buss has agreed to sell the NBA's most valuable franchise to L.A. Dodgers owner Mark Walter. Boston Celtics The Celtics, who won their record 18th NBA championship last year, went for $6.1 billion in March to private equity mogul Bill Chisholm. Washington Commanders Josh Harris, who with David Blitzer owns the NBA's Philadelphia 76ers and NHL's New Jersey Devils, added to his sports portfolio in 2023 by purchasing the Commanders for a then-record $6.05 billion. Chelsea The English Premier League team went to a consortium fronted by Dodgers part owner Todd Boehly that also includes Walter in 2022 for $3.2 billion. Another $2.2 billion was pledged for infrastructure and associated teams. Denver Broncos The Walton-Penner ownership group led by Walmart heir Rob Walton bought the NFL team in 2022 for $4.65 billion. Phoenix Suns Mortgage executive Mat Ishbia purchased the team for a then-NBA record $4 billion in 2022. Dallas Mavericks Mark Cuban sold the NBA franchise in 2023 for $3.5 billion to the Adelson family, which owns the Las Vegas Sands casino company. Charlotte Hornets Michael Jordan agreed to sell his majority share in the NBA's Hornets in 2023 for $3 billion to Rick Schnall and Gabe Plotkin. Schnall had a minority ownership in the NBA's Atlanta Hawks and Plotkin in the Hornets. New York Mets Steve Cohen completed one of the richest purchases of an MLB team in recent memory, acquiring the Mets for $2.4 billion in 2020. It marked a monumental shift for the Queens-based New York franchise as they had been under the control of the disgraced Wilpon family. Brooklyn Nets Joe Tsai purchased the Brooklyn Nets for approximately $2.5 billion in 2019. He paid a total of $3 billion, but that included acquiring the Barclays Center in the deal. He bought the team from previous owner Mikhail Prokorov. The Associated Press contributed to this report. Want great stories delivered right to your inbox? Create or log in to your FOX Sports account and follow leagues, teams and players to receive a personalized newsletter daily! recommended Get more from National Basketball Association Follow your favorites to get information about games, news and more
San Francisco Chronicle
10 hours ago
- Business
- San Francisco Chronicle
LA Lakers join list of teams being sold at ever-escalating prices
The family-owned Los Angeles Lakers are about to be sold at a valuation of $10 billion, smashing the previous record for the purchase price for a team sport. The cross-country rival Boston Celtics went for $6.1 billion just three months ago. With team values soaring, there have been a number of notable franchise transactions in recent years: Los Angeles Lakers The Lakers have been in the Buss family since 1979, but Jeanie Buss has agreed to sell the NBA's most valuable franchise to L.A. Dodgers owner Mark Walter. Boston Celtics The Celtics, who won their record 18th NBA championship last year, went for $6.1 billion in March to private equity mogul Bill Chisholm. Washington Commanders Josh Harris, who with David Blitzer owns the NBA's Philadelphia 76ers and NHL's New Jersey Devils, added to his sports portfolio in 2023 by purchasing the Commanders for a then-record $6.05 billion. Chelsea The English Premier League team went to a consortium fronted by Dodgers part owner Todd Boehly that also includes Walter in 2022 for $3.2 billion. Another $2.2 billion was pledged for infrastructure and associated teams. Denver Broncos The Walton-Penner ownership group led by Walmart heir Rob Walton bought the NFL team in 2022 for $4.65 billion. Phoenix Suns Mortgage executive Mat Ishbia purchased the team for a then-NBA record $4 billion in 2022. Dallas Mavericks Mark Cuban sold the NBA franchise in 2023 for $3.5 billion to the Adelson family, which owns the Las Vegas Sands casino company. Charlotte Hornets Michael Jordan agreed to sell his majority share in the NBA's Hornets in 2023 for $3 billion to Rick Schnall and Gabe Plotkin. Schnall had a minority ownership in the NBA's Atlanta Hawks and Plotkin in the Hornets.
Fox Sports
10 hours ago
- Business
- Fox Sports
LA Lakers join list of teams being sold at ever-escalating prices
Associated Press The family-owned Los Angeles Lakers are about to be sold at a valuation of $10 billion, smashing the previous record for the purchase price for a team sport. The cross-country rival Boston Celtics went for $6.1 billion just three months ago. With team values soaring, there have been a number of notable franchise transactions in recent years: Los Angeles Lakers The Lakers have been in the Buss family since 1979, but Jeanie Buss has agreed to sell the NBA's most valuable franchise to L.A. Dodgers owner Mark Walter. Boston Celtics The Celtics, who won their record 18th NBA championship last year, went for $6.1 billion in March to private equity mogul Bill Chisholm. Washington Commanders Josh Harris, who with David Blitzer owns the NBA's Philadelphia 76ers and NHL's New Jersey Devils, added to his sports portfolio in 2023 by purchasing the Commanders for a then-record $6.05 billion. Chelsea The English Premier League team went to a consortium fronted by Dodgers part owner Todd Boehly that also includes Walter in 2022 for $3.2 billion. Another $2.2 billion was pledged for infrastructure and associated teams. Denver Broncos The Walton-Penner ownership group led by Walmart heir Rob Walton bought the NFL team in 2022 for $4.65 billion. Phoenix Suns Mortgage executive Mat Ishbia purchased the team for a then-NBA record $4 billion in 2022. Dallas Mavericks Mark Cuban sold the NBA franchise in 2023 for $3.5 billion to the Adelson family, which owns the Las Vegas Sands casino company. Charlotte Hornets Michael Jordan agreed to sell his majority share in the NBA's Hornets in 2023 for $3 billion to Rick Schnall and Gabe Plotkin. Schnall had a minority ownership in the NBA's Atlanta Hawks and Plotkin in the Hornets. recommended
Hindustan Times
11 hours ago
- Business
- Hindustan Times
LA Lakers join list of teams being sold at ever-escalating prices
The family-owned Los Angeles Lakers are about to be sold at a valuation of $10 billion, smashing the previous record for the purchase price for a team sport. The cross-country rival Boston Celtics went for $6.1 billion just three months ago. With team values soaring, there have been a number of notable franchise transactions in recent years: The Lakers have been in the Buss family since 1979, but Jeanie Buss has agreed to sell the NBA's most valuable franchise to L.A. Dodgers owner Mark Walter. The Celtics, who won their record 18th NBA championship last year, went for $6.1 billion in March to private equity mogul Bill Chisholm. Josh Harris, who with David Blitzer owns the NBA's Philadelphia 76ers and NHL's New Jersey Devils, added to his sports portfolio in 2023 by purchasing the Commanders for a then-record $6.05 billion. The English Premier League team went to a consortium fronted by Dodgers part owner Todd Boehly that also includes Walter in 2022 for $3.2 billion. Another $2.2 billion was pledged for infrastructure and associated teams. The Walton-Penner ownership group led by Walmart heir Rob Walton bought the NFL team in 2022 for $4.65 billion. Mortgage executive Mat Ishbia purchased the team for a then-NBA record $4 billion in 2022. Mark Cuban sold the NBA franchise in 2023 for $3.5 billion to the Adelson family, which owns the Las Vegas Sands casino company. Michael Jordan agreed to sell his majority share in the NBA's Hornets in 2023 for $3 billion to Rick Schnall and Gabe Plotkin. Schnall had a minority ownership in the NBA's Atlanta Hawks and Plotkin in the Hornets.
