Mark Walter, the CEO and chairman of diversified holding company TWG Global, is set to buy the majority of the Los Angeles Lakers’ ownership from the Buss Family, according to Shams Charania.
The Buss Family owned the team since 1979 when the late Jerry Buss purchased the franchise for $67.5 million, which then grew overtime, with Walter purchasing the same franchise for $10 billion.
This deal was marked as the highest stake ever for a U.S. Professional sports franchise.
In addition, the Buss Family will still share 15% of the team’s share. | via Florence Alfonso | Photo Courtesy: jcamilobernal
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