Los Angeles Lakers have set a new benchmark for U.S. sports franchise sales, with the Buss family finalizing a $10 billion deal with Chelsea co-owner Mark Walter. This transaction shatters the previous record held by the Boston Celtics, sold earlier this year for $6 billion.
Buss family who acquired the Lakers in 1979 for $67.5 million, have overseen decades of success, including multiple NBA championships.
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Mark Walter, already a prominent figure in sports ownership, holds stakes in the Los Angeles Dodgers, Cadillac’s Formula 1 team, the Billie Jean King Cup and the Professional Women’s Hockey League.
His track record with the Dodgers, securing two World Series titles and 11 NL West divisional titles in 12 years, has earned praise from Lakers legend Magic Johnson. On X, Johnson endorsed Walter as the “best choice” to steward the Lakers brand, citing his proven success.
Read more: NBA’s Billion-Dollar Contracts: How the League Became the New Oil
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Valued at roughly £7.5 billion, the deal surpasses the £4.5 billion Chelsea FC sale in 2022, marking another milestone in Walter’s growing sports empire. The agreement signals a new era for the Lakers, with fans and analysts eager to see how Walter’s leadership will shape the franchise’s future.