The Los Angeles Lakers are reportedly set to be sold for $US10 billion ($AU15.4 billion), making the NBA franchise the most valuable U.S. professional sports team ever.
The NBA is the U.S’ top professional basketball league.
The valuation comes as the Buss family, a majority stakeholder in the team, sells its stake to American businessman Mark Walter.
Context
The Buss family have owned the team since 1979, when Jerry Buss bought it for $67.5 million.
Under Buss’ ownership, the Lakers have won 11 NBA championships, more than any other franchise in the league in this time period. (The Boston Celtics have the most overall).
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The reported deal with Walter surpasses the previous record set in March with sale of the Celtics to American businessman Bill Chisholm for $6.1 billion.
Mark Walter
Walter is the CEO and chairman of multinational holding company, TWG Global. The company’s investments include sport, tech, and insurance.
TWG already has stakes in several professional sports organisations.
These include the LA Dodgers (baseball), Chelsea FC (soccer), the LA Sparks (women’s basketball), the Billie Jean Cup (tennis), the Cadillac Formula 1 team, and the Professional Women’s Hockey League (ice hockey).
