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Buss Family Selling Majority Stake In Lakers At A $10B Valuation
The Buss family is sell majority ownership of the Los Angeles Lakers to Mark Walter.
ESPN’s Shams Charania reported today that “The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global.” Walter, he notes, has been a majority owner in the team for years and also owns stakes in the Dodgers, the Sparks and many more sports entities. While arguably the premiere franchise in the NBA, the Lakers have in the past few years have had a comparatively middle-class ownership dependent in large part on its TV deal with Spectrum Sports. The Lakers ties to Hollywood are legion, from Jack Nicholson on the sidelines to Jerry Buss courting stars with the Forum club.
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