NBA’s LA Lakers to sell majority stake to Chelsea co-owner in £7.5bn deal
The Buss family are selling a majority stake in the LA Lakers in a deal that could value the NBA franchise at £7.45bn.
Owned by the same family since 1979, the LA Lakers are one of sports most iconic teams in world sport with the likes of LeBron James, Magic Johnson, Kobe Bryant, Kareem Abdul-Jabbar, Shaquille O’Neal, and Jerry West all gracing their court.
Reports state a deal has been done with TWG Global chief executive Mark Walter – co-owner of Chelsea. The multinational conglomerate owns or has stakes in the MLB World Series winners Los Angeles Dodgers, the Lakers, LA Sparks, RC Strasbourg and, of course, Premier League club Chelsea.
The group are also behind the Cadillac entry into Formula 1 – which is set for its debut season in 2026 – while Walter’s initial stake in the Lakers was 20 per cent, purchased in 2021.
The BBC reports that the sale is worth around $10bn (£7.45bn) but could rise once concluded.
“Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021,” a spokesperson for Water said.
Lakers record
Earlier this year fellow NBA franchise the Boston Celtics was purchased by Bill Chisholm in a deal that valued the franchise at $6.1bn, but the Lakers deal would dwarf that to become the highest ever sale price for a US Sports team.
In comparison, many estimate Manchester United, for example, to be worth around £5bn if sold in its entirety today.
Former player Johnson said: “I just talked to my sister Jeanie Buss to tell her congratulations, and that I’m so happy for her and family.
“She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organisation, and fans.
“Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community!”