Valuation of $10 billion! Lakers boss sells most of the team s equity: sets a record for professional sports

On June 19, the NBA news that the Lakers boss sold the team. According to ESPN reporter Shams, the source revealed that the Bass family will reach an agreement with TWG Global's CEO and Chairman Mark Walter to sell most of the Lakers' equity. Jenny Buss will continue to serve as the team's manager after the team's sales.

Shams further reported that sources revealed that Mark Walter is about to reach an agreement to acquire most of the Lakers' equity from the Bass family, with a transaction valuation of about $10 billion, which will be the highest transaction price record for professional sports teams in the world.

Shams also added: $10 billion.

Jerry Bass bought the Los Angeles Lakers from Jack Kent Cook for $67.5 million in 1979. After his death in 2013, the team's management rights were transferred to his children. Today, the 17-time championship team is about to sell most of its shares at a valuation of $10 billion.

Mark Walter has become a minority shareholder of the Lakers since 2021 and owns shares in multiple professional sports teams, including the NFL's Los Angeles Dodgers, the WNBA's Los Angeles Sparks, Billy Jane Cup, Cadillac F1 Team and the Professional Women's Hockey League.