BREAKING NEWS: Businessman Mark Walter is set to present his historic $10 billion bid to acquire the Los Angeles Lakers to the NBA’s Advisory Finance Committee this Friday. If approved, Walter could be confirmed as the franchise’s new majority owner by the end of the month, according to sources close to the situation.
The committee will evaluate Walter’s ambitious proposal to buy a controlling stake from the Buss family and make a recommendation to the NBA Board of Governors. A vote on Walter’s bid could occur as soon as next week, signaling a potentially transformative shift for one of the most storied franchises in sports.
This transaction, if finalized, would break records, surpassing the $6.05 billion purchase of the Washington Commanders by Josh Harris in 2023 and the $6.1 billion sale of the Boston Celtics in July. Walter, who is already the controlling owner of the Los Angeles Dodgers, aims to expand his portfolio, which also includes the WNBA’s Los Angeles Sparks, the Billie Jean King Cup, a new Formula 1 team, and a minority stake in Chelsea FC.
Should the deal go through, the Buss family will retain a minority ownership interest of over 15%, allowing Jeanie Buss to maintain her role as Lakers Governor moving forward. This strategic move could ensure continuity amid significant ownership change, preserving the franchise’s legacy while bringing fresh capital and vision.
Walter’s prior transactions, such as his $2.15 billion purchase of the Dodgers in 2012, have proven to be strategic investments, with the team’s current valuation ranging between $6.8 billion and $7.73 billion. His track record in sports ownership raises expectations for the Lakers, a franchise long associated with success and resilience.
As the announcement approaches, all eyes are on the NBA and its decision-making committee. The outcome could redefine professional sports ownership and set a new precedent for franchise valuations. Fans and stakeholders are urged to stay tuned as this story develops.
Walter’s bid not only underscores his commitment to sports but also highlights the increasing financial stakes in professional leagues. The implications of this potential sale extend beyond Los Angeles, impacting fans and franchises worldwide.
What happens next? Watch for the Advisory Finance Committee’s review and the impending vote from the Board of Governors, which could reshape the landscape of the NBA. The urgency is palpable, and the sports world is on the edge of its seat.
