Ownership Transition
The Buss family has agreed to sell the controlling stake of the Los Angeles Lakers to Mark Walter, CEO of TWG Global, for a franchise valuation of $10 billion, marking the highest ever for a professional sports franchise.
Jeanie Buss will remain as the Lakers' governor, ensuring her continued involvement in the team's management. Walter, previously acquiring 27% of the team in 2021, now expands his stake.
Endorsements and Future Prospects
Esteemed figures like Lakers legend Magic Johnson and Dodgers manager Dave Roberts have endorsed Walter's acquisition, citing his track record of success and commitment to excellence.
Walter's diverse sports portfolio, including ownership stakes in the Dodgers, Chelsea, and Cadillac Formula 1, underscores his capacity to enhance the Lakers' legacy and competitiveness.