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LOS ANGELES :Billionaire Mark Walter's purchase of a majority stake in the Los Angeles Lakers, in a deal that values the team at $10 billion, adds another glittering asset to his sports portfolio and could usher in another championship era for the National Basketball League franchise.
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's most glamorous franchise.
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The Buss family has agreed to sell the controlling stake of the Los Angeles Lakers to TWG Global CEO Mark Walter, doing so with a franchise valuation of $10 billion US — the most ever for a professional sports franchise, a person with knowledge of the agreement said Wednesday.
The Buss family is entering into an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter for a franchise valuation of approximately $10 billion, sources told ESPN on Wednesday, the most ever for a U.S. professional sports franchise.
Los Angeles :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.
The Buss family has agreed to sell the controlling stake of the Los Angeles Lakers to TWG Global CEO Mark Walter, doing so with a franchise valuation of $10 billion US — the most ever for a professional sports franchise, a person with knowledge of the agreement said Wednesday.
Serie A CEO Luigi De Siervo has pointed to illegal streaming and the resulting lack of TV revenue as a factor behind Italy's struggles to nurture homegrown talent as the Azzurri strive to return to the World Cup for the first time since 2014.