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Lakers Sold for Record US$10b to Investor Walter
The Straits Times
|June 20, 2025
The Los Angeles Lakers are being sold in a record-breaking US$10 billion (S$12.88 billion) deal that makes the iconic franchise the highest-valued sports team in United States history, ESPN reported on June 18.
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LOS ANGELES -
The report said the Lakers owners, the Buss family, would sell their controlling interest in the team to billionaire Mark Walter, who already owns a minority stake in the franchise.
While Jeanie Buss will continue as Lakers governor, the deal ends the Buss family's 46-year reign over the National Basketball Association (NBA) giants.
Walter is the chief executive of holding company TWG Global, which has built an impressive portfolio of professional sports teams, including the Los Angeles Dodgers and Los Angeles Sparks. He is also a part-owner of English Premier League side Chelsea.
TWG also owns the Billie Jean King Cup tennis tournament and the Cadillac Formula One team.
While further specifics of the deal were not disclosed, Lakers legend Earvin "Magic" Johnson - a business partner of Walter - was among the first to react to news of the agreement.
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