LOS ANGELES, United States: The Los Angeles Lakers are being sold in a record-breaking $10 billion deal that makes the iconic franchise the highest-valued sports team in US history, ESPN reported Wednesday.
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 would continue as Lakers governor, the deal ends the Buss family’s 46-year reign over the 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 part of the ownership group 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.
“Laker fans should be ecstatic,” Johnson wrote on X.
“A few things I can tell you about Mark — he is driven by winning, excellence, and doing everything the right way. And he will put in the resources needed to win! I can understand why Jeanie sold the team to Mark Walter because they are just alike.”
Johnson cited Walter’s ownership of the Dodgers baseball team as a reason for optimism.
The Dodgers have won the World Series twice since Walter’s ownership group took over the club, and in recent years have adopted an aggressive recruitment strategy that has seen them sign some of the sport’s best talent, including Japanese superstar Shohei Ohtani on a 10-year, $700 million deal.
“Mark is the best choice and will be the best caretaker of the Laker brand,” Johnson wrote. “The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner.”
The Buss family selling the Lakers marks the end of an era in the NBA, whose modern popularity owes much to the franchise’s 1980s heyday.
The Lakers were bought in 1979 by charismatic tycoon Jerry Buss, who quickly helped turn the franchise into a sporting powerhouse as well as a globally recognized brand.
The Buss era brought the Lakers 11 NBA championships — more than any other team over the same period — and encompassed golden ages which included the “Showtime” Lakers of Magic Johnson as well as a hat-trick of championships between 2000 and 2002 when the team was spearheaded by Kobe Bryant.
More recently the team recruited superstar LeBron James, who led the Lakers to a 17th championship in 2020, and stunned the league earlier this after swooping for Dallas Mavericks star Luka Doncic.
Walter has been a minority owner of the Lakers since 2021 when he bought a share in a deal which also gave him first refusal to purchase the club should the Buss family ever decide to sell.
The sale of the club smashes the previous highest figure paid for a US sports team, the $6.1 billion paid for the Boston Celtics earlier this year.
That Celtics sale eclipsed the $6.05 billion that Josh Harris paid for the Washington Commanders in 2023.
Lakers to be sold in record-breaking $10 billion deal: ESPN
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Lakers to be sold in record-breaking $10 billion deal: ESPN
- The Buss era brought the Lakers 11 NBA championships — more than any other team over the same period
Real Sociedad end Barca winning streak to tighten Liga title race
- The Catalan giants, who hit the woodwork four times and had two goals disallowed, now only lead rivals Real Madrid by a single point at the top of the table
SAN SEBASTIAN, Spain: Real Sociedad damaged Barcelona’s title defense ambitions as Goncalo Guedes gave them a surprise 2-1 La Liga victory on Sunday as Hansi Flick’s side fell to a first defeat in 12 matches.
The Catalan giants, who hit the woodwork four times and had two goals disallowed, now only lead rivals Real Madrid by a single point at the top of the table after Alvaro Arbeloa’s side beat Levante on Saturday.
Hosts Real Sociedad, now unbeaten in four games under new American coach Pellegrino Matarazzo, had Carlos Soler sent off late on but managed to hold on to triumph and climb up to eighth.
“I think we deserved to win today, we had a lot of chances, but in the end you have to put them away,” Barca midfielder Frenkie de Jong told DAZN.
“We played well but we didn’t win... their goalkeeper had a very good game.”
Sociedad shot-stopper Alex Remiro made several crucial saves.
“Three great points and a great game,” said Remiro.
“We’ve started this year in great form... this is the energy we have, how we’ve changed (recently).”
In a frantic start to a compelling game at the rainy Reale Arena, both teams had goals ruled out.
La Real had the ball in the net inside 30 seconds when Mikel Oyarzabal headed home Guedes’s cross, but had strayed offside.
At the other end, Barcelona’s Fermin Lopez drilled home from range but Dani Olmo had committed a foul in the build-up and it was ruled out.
With teenage winger Lamine Yamal keen to take on defenders, Barca got in often down the right flank. The 18-year-old teed up Olmo who fired high over the bar when he might have sent the Catalans ahead.
Yamal found the net himself but the goal was ruled out for an extremely tight offside, before Real Sociedad took the lead against the run of play.
Oyarzabal lashed home Guedes’s cross with a blistering volley inside Joan Garcia’s near post.
Yamal was felled just inside the area before half-time but although the referee pointed to the spot, a VAR review showed that the youngster was offside again and it was canceled out.
Remiro heroics
Barcelona turned up the pressure in the second half and Real Sociedad were left depending on Remiro and the frame of the goal to keep the Catalans at bay.
Olmo crashed a shot against the post from Lopez’s cross and then Remiro denied the Barca midfielder with a fine near-post save.
Remiro then tipped substitute Robert Lewandowski’s header against the crossbar with the save of the night.
Another Barca substitute, Marcus Rashford, eventually pulled the champions level, heading Yamal’s cross home after 70 minutes.
However, the hosts immediately regained their advantage after Barca goalkeeper Garcia initially saved Carlos Soler’s shot. The midfielder was able to gather the rebound and cross for Guedes, who fired La Real ahead again.
They should have got a third when Garcia, out of his goal, had no chance of saving Oyarzabal’s effort but Pau Cubarsi headed the ball off the line.
Barcelona came within centimeters of an equalizer when Joao Cancelo, on his second debut for the club, crossed for Jules Kounde, who headed against the crossbar.
Soler was dismissed for an ugly foul on Pedri before nine minutes of stoppage time were added on.
Rashford hit the post directly from a corner kick as Barca pushed until the end but could not find a way through.
