The American sports world is about to make history again. According to multiple sources, the Buss family, which has been in charge of the Los Angeles Lakers for 46 years, will sell the majority stake of this iconic NBA team to Mark Walter, who previously held a minority stake in the team, at a valuation of $10 billion.

This valuation set a historical record, while when Jerry Buss bought the Lakers in 1979, it only cost $67.5 million. This means that the Lakers' deal created a 150-fold profit for the Buss family.

At the same time, the Lakers will also become the second Southern California team that Walter controls ownership. Since 2012, he has also controlled the Los Angeles Dodgers in the American professional baseball game.

Last year, Forbes ranked the Lakers as the eighth most valuable team in the world, worth $7.1 billion. In terms of historical performance, the Lakers have won 17 NBA (National Professional Basketball League) championships, ranking second, 11 of which were won during the Buss family's tenure.

New Era
After Jerry Buss died in 2013, his daughter Jeanie Buss took over the Lakers. According to league sources, Jeanie Buss plans to continue to serve as the team manager and retain a minority stake after the team is sold, which will enable her to vote on league affairs at NBA team owner board meetings.

In the eyes of NBA fans, the exit of the Buss family may represent the end of an era, but in the eyes of the venture capital community, transactions surrounding the sports industry have long entered a new era.

Since 2011, nearly half of NBA teams (14) have experienced ownership changes. This is closely related to the development of digital media such as sports live broadcasts and social media. Thanks to the success of these innovative revenue models, NBA total revenue has been on an upward trend.

According to Forbes's survey, except for the sharp decline in NBA ticket sales in 2020 due to the impact of the epidemic, NBA total revenue has continued to grow in the past decade, from US$4.56 billion in the 2012/13 season to US$11.3 billion in the 2023/24 season. This has also made owning an NBA team more and more popular.

The Lakers' sale at a high valuation of $10 billion is also further promoting the appreciation of NBA teams. Analysis points out that the valuation of the Los Angeles Lakers is not only based on sports performance, but also reflects brand strength, global media rights, real estate assets and cultural relevance.

For Walter, the Lakers may also be a very promising deal. In 2011, his Guggenheim Baseball Group bought the bankrupt Dodgers baseball team and operated it into a league star team. In addition to the Dodgers, he also led many popular teams such as the Los Angeles Sparks and the Cadillac F1 team, and was hailed as the "owner who understands sports best."

Former Lakers legendary star "Magic" Johnson, who is now Walter's current business partner, emphasized in an X tweet that Jeanie Buss chose the most suitable person to lead the Lakers, and Walter will be the best guardian of the Lakers brand.

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