Lakers Sold to TWG Global CEO Mark Walter in $10 Billion Deal

The Los Angeles Lakers, one of the world's most iconic sports franchises, has been sold to TWG Global CEO Mark Walter in a $10 billion deal. The sale marks a significant shift in ownership for the 44-year-old franchise, which was previously owned by the Buss family since 1979. The Lakers have a storied history, with 11 championship titles and a reputation for producing some of the sport's biggest names.

Key Takeaways:

• The sale is valued at $10 billion, making it one of the largest deals in sports history.
• The Lakers have been owned by the Buss family since 1979, with Dr. Jerry Buss purchasing the team for $67.5 million.
• The team has won 11 championships and has a winning percentage of over 60% since Dr. Buss purchased the team.
• Jeanie Buss serves as team president and chairman of the board, but any sale of the franchise would need a majority vote of the Buss children to be approved.
• Mark Walter has been a stakeholder in the Lakers since 2021 and has a background in technology and finance.
• The sale resets the bar for the value of a pro sports team, surpassing the proposed $6.1 billion sale of the Boston Celtics.
• The Lakers have a relatively modest-sized front office and support staff, with Walter potentially injecting spending power into the team.

Statistics:

• $10 billion: The sale price of the Los Angeles Lakers.
• $67.5 million: The purchase price of the Lakers by Dr. Jerry Buss in 1979.
• 11: The number of championships won by the Lakers since Dr. Buss purchased the team.
• 60%: The winning percentage of the Lakers since Dr. Buss purchased the team.
• 1979: The year Dr. Jerry Buss purchased the Los Angeles Lakers.
• 2021: The year Mark Walter joined the Lakers ownership group.

Sources:

• ESPN
• Forbes
• NBC
• Contify.com
• Sportz Network Pvt. Ltd
• Twitter posts from Magic Johnson