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More money has never been paid for a franchise in US sports or another club in the world.
Walter “agreed with the Buss Family Trust to acquire a majority stake in Los Angeles Lakers,” it said. Jeanie Buss will keep her post in the franchise “and lead the team’s day -to -day business to the foreseeable future”.
In sports, Walter is already in the possession of shares in Los Angeles Dodgers (Baseball), the Los Angeles Sparks (women basketball) and the future Formula 1 team Cadillac. Walter already has a minority stake in the Lakers.
“I got to know Mark very well over time and was pleased to find out that he shares the same values,” said Jeanie Buss. “In the past four years, Mark has been an excellent partner for us, and we look forward to continuing to work with him to continue the extraordinary legacy of the Lakers.”
The Lakers have been owned by the Buss family since 1979. At that time, Jerry Buss bought the franchise from Jack Kent Cooke for $ 67.5 million and also received the Los Angeles Kings from the NHL.
