The Big Lead

Lakers' next owners include a name familiar to Dodgers fans: reports

The chairman of Los Angeles' original Major League Baseball team is reportedly in agreement to take over the city's NBA entry as well.

By J.P. Hoornstra

Los Angeles Dodgers owners Todd Boehly, Mark Walter, Robert Patton Jr., Stan Kasten, Helen Weisz Kasten with Sandy Koufax along with owners Peter Gruber, Robert L. Plummer, and Alan Smolinisky in front of the brand new Koufax commemorative statue during an unveiling ceremony at the Centerfield Plaza at Dodger Stadium on June 18, 2022.
Los Angeles Dodgers owners Todd Boehly, Mark Walter, Robert Patton Jr., Stan Kasten, Helen Weisz Kasten with Sandy Koufax along with owners Peter Gruber, Robert L. Plummer, and Alan Smolinisky in front of the brand new Koufax commemorative statue during an unveiling ceremony at the Centerfield Plaza at Dodger Stadium on June 18, 2022. / Jayne Kamin-Oncea-Imagn Images
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Although the family of the late Dr. Jerry Buss has owned the Los Angeles Lakers since 1974, the team's next owner is already a familiar one among fans.

According to multiple reports Wednesday, the Buss family is entering an agreement to sell the Lakers to Mark Walter, the chairman and controlling owner of the Los Angeles Dodgers. The sale will value the franchise at $10 billion, according to ESPN.

ESPN's Shams Charania was first to report the news on Twitter/X:

In May 2012, a group led by Walter that included former Laker star Earvin “Magic” Johnson purchased the Dodgers out of bankruptcy. Two years later, Walter invested in the WNBA's Los Angeles Sparks.

By purchasing the Lakers, Walter will complete the rare ownership trifecta in the second-largest media market in the United States.

MORE: Dodgers make stunning Shohei Ohtani announcement

Walter, originally from Chicago, is the Co-Founder of Guggenheim Capital, LLC and the CEO and co-chairman of TWG Global, a multinational holding company.

According to Charania, Lakers president Jeanie Buss will continue to serve in her role as Governor of the team after the sale. Her father purchased the team for $67.5 million 51 years ago and turned it into a national brand — thanks in large part to Johnson, one of the brightest basketball stars of his or any generation.

Now, the Lakers will cement their place as the most valuable American sports franchise ever sold. The Boston Celtics held that record for all of three months, after a group led by Bill Chisholm agred to purchase the defending NBA champions for $6.1 billion in March.

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