Buss household agrees to promote majority stake of Lakers to Dodgers co-owner Mark Walter at $10B valuation, sources inform ESPN

LOS ANGELES — The Buss household has entered into an settlement to promote majority possession of the Lakers to Mark Walter at a valuation of roughly $10 billion, sources instructed ESPN.

It’s going to mark the most important ever sale of a U.S. skilled sports activities crew.

Jeanie Buss will proceed to serve in her position as Lakers governor, sources mentioned.

Walter, the CEO and chairman of diversified holding firm TWG World, has pursuits in a number of skilled sports activities organizations, together with the Los Angeles Dodgers, Los Angeles Sparks, the Billie Jean Cup, Cadillac Formulation 1 crew and the Skilled Girls’s Hockey League.

The Lakers have been owned by the Buss household since 1979, when Jerry Buss bought the franchise from Jack Kent Cooke in a $67.5 million transaction that additionally included the Los Angeles Kings and the Los Angeles Discussion board. Since 1980, the Lakers have gained 11 championships, essentially the most by any NBA crew throughout that span.

The Lakers handed to Buss’ youngsters when he died in 2013, and his daughter Jeanie has served because the Lakers’ governor since.

Walter has been a stakeholder within the Lakers since 2021, when he additionally acquired a proper of first refusal on the bulk share of the crew.

The upcoming sale was preceded by two of Jeanie Buss’ closest confidants within the NBA governors neighborhood agreeing to gross sales for his or her groups previously two years: Mark Cuban bought a majority stake within the Dallas Mavericks for $3.5 billion, whereas Wyc Grousbeck bought the Boston Celtics for $6.1 billion

ESPN’s Ramona Shelburne and Dave McMenamin and ESPN Analysis contributed to this report.