A piece of monumental news hit the NBA on Wednesday afternoon when it was announced that the Buss family had agreed to sell a majority stake of the Los Angeles Lakers to Mark Walter, who is the CEO of TWG Global and Guggenheim Partners. The franchise will reportedly be sold for a valuation of $10 billion, making this the biggest sale of a pro sports franchise anywhere in the world.
There have been numerous Lakers fans who have long wanted the Buss family to sell the team. Dr. Jerry Buss bought it in 1979, and after he passed away in 2013, his daughter Jeanie took control as its governor, a role she has held ever since. While the Lakers won 10 NBA championships under the elder Buss, the results under the younger Buss haven’t exactly been as stellar.
On X (formerly known as Twitter), fans reacted to the huge news.
