Lakers Sold for Record-Breaking $10B; New Ownership Era Begins

Lakers Sold for Record-Breaking $10B; New Ownership Era Begins

Lakers Sold for Record-Breaking $10B; New Ownership Era Begins

Close-up of two businesspeople shaking hands, symbolizing agreement and partnership.
Photo by RDNE Stock project on Pexels

TWG Global CEO Mark Walter has acquired the Los Angeles Lakers for a record-shattering $10 billion, marking the end of the Buss family’s 44-year ownership. This surpasses the previous record set by the Boston Celtics’ $6.1 billion sale.

The deal signifies a major shift in NBA ownership, with two of the league’s most storied franchises changing hands in recent months. Walter, already involved in various sports ventures (LA Dodgers, LA Sparks, etc.), takes the helm, while Jeanie Buss remains governor.

The acquisition’s impact on the Lakers’ future strategy, particularly given LeBron James’ advancing career and recent roster changes, remains to be seen. However, the massive investment signals a commitment to continued success and competitiveness.

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