By The Buss family is entering an agreement to sell a majority stake in the Los Angeles Lakers, ESPN reported on Wednesday, marking the end of an era for one of the NBA’s most influential owners.
Mark Walter, the CEO and chairman of holding company TWG Global, is set to take the majority ownership under the agreement which values the Lakers at $10 billion, ESPN reported, making it the largest-ever sale of a professional sports team.
Walter, already an established figure in Los Angeles sports, has existing shares in MLB team Los Angeles Dodgers and WNBA franchise Los Angeles Sparks.
