A year has passed since the Boston Celtics disclosed the sale of a majority stake in their team, and now a similar move is being made by their rivals from the west coast.
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The Buss family is preparing to transfer the majority ownership of the Los Angeles Lakers to Mark Walter, the CEO of TWG Global, as reported by ESPN’s Shams Charania.
Since 2021, Walter has held a minority ownership position in the Lakers, and he owns stakes in several other sports entities including the Los Angeles Dodgers, the Los Angeles Sparks, the Billie Jean Cup, the Cadillac Formula 1 team, and the Professional Women’s Hockey League.
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Post-sale, Jeanie Buss is set to remain as the governor of the franchise.
Jeanie’s father, Jerry Buss, who bought the Lakers back in 1979 for $67.5 million, passed away in 2013, after which the ownership of the team was handed over to his children.
Under the Buss family’s ownership, the Lakers have secured 11 NBA championships.
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