The Los Angeles Lakers have been sold to Mark Walter, the CEO and chairman of TWG Global, with a reported valuation of approximately $10 billion—the largest sale in sports history. This transaction comes just three months after the Boston Celtics sold for $6.1 billion, setting a record at the time.

Walter’s company also owns the Dodgers, Sparks, and several other sports franchises. Despite the sale, Jeanie Buss will remain as the team’s governor, at least for now. The specifics of how this new ownership will influence the team’s future remain uncertain, but it’s clear that the sports industry continues to thrive at an incredible level.

The Buss family has been a mainstay in the NBA since acquiring the team in the late 1970s from Jack Kent Cook. The Lakers were purchased for under $70 million, representing a significant return on investment. Over the years, the Lakers have played a major role in shaping the NBA’s narrative and the broader sports landscape.

This high-profile sale echoes across the sports world, influencing valuations and perceptions of franchise worth. For example, the recent Celtics sale and Mark Cuban’s sale of the Mavericks reflect a trending increase in franchise values. The Lakers’ valuation, in particular, serves as a benchmark for other teams, including iconic franchises like the Dallas Cowboys.

Overall, the deal marks a major milestone for sports ownership, signaling strong business growth and future opportunities. Lakers fans now await to see how the new ownership will steer the team and shape its legacy for the next era.