Chelsea Co-Owner Walter Nears $10bn LA Lakers Majority Stake Deal

The Los Angeles Lakers are set to be sold by the Buss family to Mark Walter, CEO of TWG Global and co-owner of Chelsea FC, in a deal valued at approximately $10 billion, making it the most expensive sports franchise sale in history. Walter, who has held a minority stake in the Lakers since 2021, will gain majority control, ending the Buss family's 47-year ownership, during which the team won 11 NBA championships. TWG Global’s portfolio includes other major sports teams such as the Los Angeles Dodgers and the LA Sparks, with Walter credited for the Dodgers' recent World Series successes. Lakers legend Magic Johnson, who is a business partner of Walter, praised the sale, expressing confidence in Walter's commitment to winning and maintaining the Lakers' legacy. This transaction surpasses the recent $6.1 billion sale of the Boston Celtics, setting a new benchmark for U.S. professional sports team valuations. Jeanie Buss, expected to remain as Lakers governor, supported the sale, emphasizing Walter's vision and leadership.