NBA record deal: Los Angeles Lakers sold for $10 billion

The owners of the teams in the North American professional basketball league (NBA) have approved the historic sale of the Los Angeles Lakers to businessman Mark Walter, the NBA announced. "The transaction is expected to be completed,” the league said in an official announcement. The Buss family, which has owned the club since 1979, is relinquishing control of the team for an estimated $10 billion, according to information previously provided by ESPN - an absolute record for an NBA team. Current owner Jeanie Buss will continue to serve as president of the club for another five years, according to the agreement signed between the two parties. The new owner, Mark Walter, is no stranger to the world of sports. CEO of TWG Global Holding, he already owns stakes in several major sports organizations: the Los Angeles Dodgers (baseball), the Los Angeles Sparks (WNBA), the Billie Jean King Cup (tennis), and the Cadillac team, which is set to debut in Formula 1 in 2026.

Since the club was purchased in 1979 by Jerry Buss, the Los Angeles Lakers have become synonymous with spectacle and excellence in American professional basketball. Legendary names such as Magic Johnson, Kareem Abdul-Jabbar, Shaquille O'Neal, Kobe Bryant and LeBron James have shone on the court at the "Staples Center” (currently Crypto.com Arena). Under the leadership of the Buss family, the Lakers have won 11 of the 17 NBA titles on record, most recently in 2020, and have become one of the most valuable and watched franchises in world sports.

The Mark Walter deal comes just two months after the announcement of the sale of another historic team, the Boston Celtics - the NBA record-holder with 18 titles - for $6.1 billion. This latest move confirms the trend of escalating market values in American professional sports, where global interest and media rights revenues continue to grow spectacularly.