Buss family to sell controlling share of the Lakers for $10 billion: Report

The Buss family has reportedly agreed to sell its controlling share of the Los Angeles Lakers to TWG Global CEO Mark Walter at a franchise valuation of approximately $10 billion, ESPN reported Wednesday. 

The move, which will mark the largest sale of a sports team in history, comes after two other basketball governors sold their shares in teams in the past two years, with Mark Cuban selling a majority stake in the Dallas Mavericks for $3.5 billion, and Wyc Grousbeck selling a share in the Boston Celtics for $6.1 billion.

The Lakers have been controlled by the Buss family since 1979, when Jerry Buss purchased the franchise for $67.5 million, along with the Los Angeles Kings and the Los Angeles Forum. Current Lakers governor Jeanie Buss will remain in her role after the sale, sources told ESPN.

The announcement comes as Walters also expresses interest in other major sports teams, including the Los Angeles Dodgers and the Los Angeles Sparks. Walter has been a minority owner of the Lakers since 2021, per Deadline.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.