Los Angeles Lakers to Transfer Ownership in Historic $10 Billion Deal

The iconic Los Angeles Lakers are set to undergo a groundbreaking ownership transition, as the Buss family has reached an agreement to sell a majority stake in the team to Mark Walter, the current owner of the L.A. Dodgers, as verified by CBS News Los Angeles.

Mark Walter, the visionary leader behind Guggenheim Partners, will assume primary control of the Lakers franchise, renowned across the globe. Jeanie Buss will continue to hold the governor position, ensuring her role as the team's representative in NBA affairs since she took over following her father, Jerry Buss's passing in 2013.

In a statement from the organization, the Lakers confirmed Walter's expanded involvement: "We can confirm that Mark Walter is proceeding with arrangements to heighten his stake in the NBA's storied Los Angeles Lakers, a role he has maintained since 2021."

The transaction is appraised at an unprecedented $10 billion, eclipsing all previous sports team sales, including last year's sale of the Celtics for $6.1 billion.

Once the sale is finalized, the Lakers will ascend to the status of the world's most valuable sports entity, vaulting ahead by nearly $4 billion over any competitors.

Walter's investments reach beyond baseball and basketball, as he also holds proprietary interests in the Los Angeles Sparks, a WNBA team, and English soccer club Chelsea in the Premier League.

Jerry Buss acquired the Lakers in 1979 for a then-sizeable $67.5 million, laying the foundation for the team to evolve into a premier sporting powerhouse. Following his demise, ownership fell to his offspring, Jeanie and Jim Buss.

Under the Buss leadership, the Lakers have accumulated an impressive track record of 2236 wins and 1467 losses, capturing 11 NBA Championships with legends such as Kobe Bryant and LeBron James gracing the court.