Mark Walter Acquires Majority Stake in Los Angeles Lakers for Record $10 Billion
Mark Walter is acquiring a controlling stake in the Los Angeles Lakers from the Buss family for a historic $10 billion, marking a new era for the franchise.
Overview
- Mark Walter is purchasing a majority ownership stake in the Los Angeles Lakers from the Buss family for a record $10 billion, the highest in U.S. sports history.
- Jeanie Buss will remain as team governor, ensuring continuity in leadership after the sale of the Lakers.
- Walter previously acquired a 27% stake in the Lakers in 2021 and now expands his influence in sports with this majority ownership.
- The Buss family, which has controlled the Lakers for 46 years, is selling a controlling stake while the franchise boasts 17 championships.
- Mark Walter, CEO of TWG Global, also owns the Los Angeles Dodgers and Chelsea, enhancing his portfolio in the sports industry.
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Analysis
Center-leaning sources emphasize the unprecedented financial scale of the Lakers' sale, framing it as a historic milestone in professional sports. They present a factual narrative, focusing on the record valuation while maintaining a neutral tone, reflecting a blend of admiration for the achievement and acknowledgment of its significance.
The sale of this U.S. pro sports franchise is the most expensive in history, with a record-breaking $10 billion valuation.
Articles (12)
"…The Buss family is entering an agreement to sell a majority stake in the Los Angeles Lakers at a $10bn valuation, marking the end of an era for one of the NBA’s most influential families."
The Guardian·6d·"…The sale resets the bar for the value of a pro sports team."
NBC News·6d·"…Now, the Lakers can do the same."
Deadline·6d·"…The agreement for the sale of the Lakers comes about three months after Bill Chisholm agreed to buy the Boston Celtics with an initial valuation of $6.1 billion — that topping the previous mark of $6.05 billion sale for the NFL’s Washington Commanders."
Chicago Sun-Times·6d·"…The sale could mean grand things for the team that has won 18 NBA championships."
USA TODAY·6d·"…The Buss family has agreed to sell the controlling stake in the Los Angeles Lakers to TWG Global CEO Mark Walter, doing so with a franchise valuation of $10 billion — the most ever for a professional sports franchise."
Chicago Tribune·6d·"…The sale breaks the record for the most expensive purchase agreement of a U.S. pro sports franchise in history."
USA TODAY·6d·"…The expected sale is valued at about $10 billion, shattering the current record for the largest sale of a sports team in history."
CBS News·6d·"…The agreement for the sale of the Lakers comes about three months after Bill Chisholm agreed to buy the Boston Celtics with an initial valuation of $6.1 billion — that topping the previous mark of $6.05 billion sale for the NFL’s Washington Commanders."
Associated Press·6d·"…The deal is reportedly valued at $10 billion, which is by far the most for any sale of a professional sports team in world history, per ESPN."
Fox Business·6d·"…The agreement for the sale of the Lakers comes about three months after Bill Chisholm agreed to buy the Boston Celtics with an initial valuation of $6.1 billion — that topping the previous mark of $6.05 billion sale for the NFL’s Washington Commanders."
Boston Herald·6d·"…The sale received a full-throated endorsement from franchise legend Earvin “Magic” Johnson, who not only knows the Buss family well but was also a member of Walter’s group that purchased an interest in the Dodgers in 2012."
Breitbart News·6d·FAQ
Mark Walter is the CEO of Guggenheim Partners, a global investment firm managing over $345 billion in assets. He owns majority stakes in the Los Angeles Dodgers and Chelsea Football Club, expanding his influence in the sports industry.
The $10 billion sale price is the highest valuation ever paid for a U.S. sports team, surpassing the previous record of $6.1 billion for the Boston Celtics. This makes the Lakers the most valuable sports franchise globally by nearly $4 billion.
Yes, Jeanie Buss will remain team governor, maintaining continuity in leadership and continuing to represent the Lakers in league matters despite the sale of the controlling stake.
The Buss family has controlled the Los Angeles Lakers for 46 years, since Jerry Buss purchased the franchise in 1979.
Mark Walter's acquisition as majority owner signifies a new era for the Lakers with potential for increased investment and influence, given his ownership of other major sports teams and leadership experience in global investment.
History
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