Camille Naredo

Article (news)

Lakers

Reuters Wires

The Buss family, architects of 11 NBA championships, is poised to relinquish their four-decade reign over the LA Lakers, with ESPN reporting they are entering an agreement to sell a majority stake in basketball&#x27;s most glamorous franchise.A Lakers fan, only going by the name Lafayette, told Reuters: &quot;I like the fact that it&#x27;s been Jerry Buss&#x27; family that have been in control but... it&#x27;s a bad and a good thing for me. The good thing is they&#x27;ll have more resources to get players, you know, so hopefully they&#x27;ll take a page out of the Dodgers&#x27; book and be able to get more players.&quot;Lakers minority owner Mark Walter is set to take majority ownership in a deal valuing the Lakers at about $10 billion, making it the most expensive U.S. sports team valuation in history.The deal will end family control of the Lakers.<div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/sports/basketball/2025/6/18/lakers-to-be-sold-in-record-breaking-10-billion-deal-espn-0653">READ: Lakers to be sold in record-breaking $10 billion deal: ESPN</a></div>&quot;It seemed like the end of an era now,&quot; said Leu Stepney, 64, a Lakers fan from Baltimore.He added: &quot;I&#x27;m not sure what the future is going to be, whereas when Jeanie Buss was the owner of the team, you had a pretty good feel about things were going to go. I&#x27;ve been a Lakers fan for 40 years now, yeah, 40 plus and the Buss name has been synonymous with the ownership for all that time, so I was very surprised.&quot;The Buss family will retain a minority share of just over 15% for a period of time after the deal, ESPN reported, bringing to a close its stewardship of a franchise that became synonymous with Hollywood allure and championship excellence.Reuters could not immediately ascertain what Walter&#x27;s new stake in the team would be. He purchased a minority stake in the Lakers with Todd Boehly in 2021.The previous record for biggest sports deal was held by the Boston Celtics, who agreed in March to be sold for $6.1 billion.<div>(Production: Arafat Barbakh, Rollo Ross, Sandy Hooper)</div>

The Buss family, architects of 11 NBA championships, is poised to relinquish their four-decade reign over the LA Lakers.

The Buss family, architects of 11 NBA championships, is poised to relinquish their four-decade reign over the LA Lakers.

'End of an era': Lakers fans on Buss family selling majority stake in team

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'End of an era': Lakers fans on Buss family selling majority stake in team

Reuters

Published June 21, 2025 03:08 PM PHT

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