Buss Family to Sell Majority Ownership of Los Angeles Lakers to Mark Walter

The Buss family is set to make a groundbreaking move by selling the majority ownership of the Los Angeles Lakers to Mark Walter, for a stunning franchise valuation of around $10 billion. This marks the highest valuation ever recorded for a professional sports franchise in the U.S., as relayed by sources to ESPN on Wednesday. However, the Buss family will retain a minority stake, holding onto just over 15% of the team for some time, according to insider information.

In a significant arrangement within the deal, Jeanie Buss will continue her role as the Lakers’ governor, managing the team for “at least several more years,” as confirmed by those familiar with the agreement to ESPN’s Ramona Shelburne. It’s ensured within the terms that Jeanie will stay in command of the Lakers for the foreseeable future, with Walter wholeheartedly supporting this strategy, sources confirmed.