2 months ago
7
The majority stake in one of sports’ most iconic franchises, the Los Angeles Lakers basketball organisation, is being sold in a historic deal worth an estimated US$10 billion.
The Buss family has owned the team since 1979 and now has reportedly made a deal with TWG Global CEO Mark Walter.
Walter also has a controlling stake in the Los Angeles Dodgers, the professional US baseball team that won the World Series last year.
The expected sale shatters the current record for the largest sale of a sports team in history.
The previous record was last year’s US$6.1 billion sale of the Lakers’ rival Boston Celtics.
When the sale becomes official, the Lakers will be the most valuable franchise in sports by nearly US$4 billion.
The LA Lakers have won 11 NBA titles.
English (US) ·