Lakers to be sold for a record price of $10 billion

The Los Angeles Lakers, featuring LeBron James, and the Dallas Mavericks, led by Luka Doncic, are expected to be sold in a record NBA deal valued at about $10 billion, ESPN reported Wednesday.

The Buss family, longtime owners of the Lakers, will cede their majority stake in the franchise to billionaire Mark Walter, who already owns a portion of the team, according to the U.S. sports broadcaster’s report.

The deal would end the Buss family’s 47-year control of the Lakers, though current leader Jeanie Buss is expected to remain as president, according to the report.

The Buss family’s loss of control over the Lakers—the NBA’s most successful franchise after the Boston Celtics—marks the end of an era in American sports.

The team was acquired in 1979 by charismatic tycoon Jerry Buss, who quickly transformed it into a sports powerhouse and a globally recognized brand.

"The best choice"

The Buss era brought the Lakers 11 championships—more than any other team during that time—and included iconic periods like the thrilling "Showtime" era of the 1980s, led by Earvin "Magic" Johnson, which was recently featured in the HBO series Winning Time.

"Mark is the best choice and will be the best caretaker of the Laker brand," said "Magic" himself on social networking site X.

"I know my sister Jeanie (Buss) would have only considered selling the Lakers organization to someone she knows and trusts to carry on the Buss legacy," said the former point guard, who is a minority partner in the Dodgers.

In this century, the Lakers also won a three-peat of championships from 2000 to 2002, led by the late Kobe Bryant.

The franchise’s most recent of 17 championships came in 2020, with a roster led by LeBron James.

The Lakers have secured their succession plan for 40-year-old "King James" by adding the franchise’s new star, Slovenian Luka Doncic, this year.