Mark Walter, the owner of the Los Angeles Dodgers, is entering into an agreement to buy majority ownership of the Los Angeles Lakers, according to ESPN. Jeanie Buss will retain her role as the team’s governor after the sale, according to the report. The price of the sale was not immediately clear, but Forbes values the Lakers at $7.1 billion.
The Buss family has owned the Lakers since 1979, when Dr. Jerry Buss purchased the team from Jack Kent Cooke. What followed has been among the most successful runs any professional sports team has had. The Lakers have won 11 championships since the Buss family took over, most recently in 2020. Jerry Buss died in 2012, and Jeanie has been the governor ever since.
Walter purchased the Dodgers in 2012, and they, too, have been tremendously successful. They have won two World Series in that time period, and Walter has been a minority investor in the Lakers ever since.
The largest team sale in NBA (and North American sports history) is the Celtics’ recent $6.1 billion sale to Bill Chisholm. That deal was agreed upon in March.
CBS Sports will update this story as it develops.
This news was originally published on this post .
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