Topline
The Los Angeles Lakers will be sold to Los Angeles Dodgers owner Mark Walter at a $10 billion valuation, according to multiple outlets, marking the largest acquisition in sports history if the deal goes through.
The agreement was reported Wednesday. (Photo by Jayne Kamin-Oncea/Getty Images)
Key Facts
The Buss family has agreed to sell majority ownership of the Lakers to Walter, maintaining a 15% minority share for an unknown period of time, according to ESPN.
Jeanie Buss, daughter of the late Jerry Buss, who has been the Lakers’ governor and controlling owner since 2017, will remain in her role as governor, ESPN added.
The sale of the Lakers could later value the team at $12 billion, The Athletic reported, citing an unnamed source familiar with the negotiations.
Walter, who purchased the Dodgers in 2012 for $2.15 billion, has been a Lakers stakeholder since 2021.
Crucial Quote
Lakers legend and Dodgers part-owner Magic Johnson said fans of the franchise should be “ecstatic,” lauding Walter and saying the billionaire “will put in the resources needed to win!”
This is a developing story. Check back for updates.
