Mark Medina discusses landmark sale of LA Lakers | Could other teams exceed $10bn valuation?
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The controlling stake of the Los Angeles Lakers is to be sold to Chelsea co-owner Mark Walter with a franchise valuation of $10bn – the highest ever for a professional sports franchise.
As part of the deal, Jeanie Buss, whose family has had control of the Lakers since her father bought the team in 1979, intends to remain as team governor, Associated Press reported.
It is not clear how much more of the Lakers that Walter is acquiring. He was part of a group that bought 27 per cent of the Lakers in 2021. Jeanie Buss will still own at least 15 per cent of the Lakers once this transaction is completed; by NBA rule, a governor must have at least that much of an ownership stake.
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