The Bass Family has reportedly agreed to sell the Los Angeles Lakers to financial proprietor Mark Walter in a deal valued at a groundbreaking $10 billion, which could rise to $12 billion. This sale would surpass the previous record of $6.1 billion for the Boston Celtics. While Jeannie Buss will remain team governor, Walter, CEO of Guggenheim Partners, has a track record of successful ownership with the Los Angeles Dodgers, which he acquired in 2012.
Walter had previously purchased a 27% stake in the Lakers in 2021, valued at around $5 billion. The Lakers, who have won 17 NBA championships, are known for their legendary players, including Kareem Abdul-Jabbar and Magic Johnson. The potential sale has garnered excitement from former Lakers’ legends and current players. The transaction could enable the Lakers to enhance their competitive edge in the league, especially amid increasing player contract demands.
The Bass family, who bought the Lakers in 1979 for roughly $68 million, has historically managed the franchise conservatively, but sources suggest Walter’s ownership could allow for greater investment in team infrastructure and roster development. Walter’s Guggenheim organization has also been active in other sports, owning the WNBA’s Los Angeles Sparks and exploring opportunities in motorsports.
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