Buss family agrees to sell controlling stake of Lakers to Mark Walter for $10B, AP source says

The Buss family has agreed to sell the controlling stake of the Los Angeles Lakers to TWG Global CEO Mark Walter, doing so with a franchise valuation of $10 billion — the most ever for a professional sports franchise, a person with knowledge of the agreement said Wednesday. 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 governor, said the person, who spoke to The Associated Press on condition of anonymity because neither side immediately announced details. It is not clear how much of the Lakers that Walter is acquiring.