The Los Angeles Lakers are set to be sold in a reported record transaction valued at $12.5bn, marking a major ownership development for one of the NBA’s best-known franchises.
The proposed sale comes less than a year after Mark Walter took a majority stake in the team. The reported valuation places the deal at a record level, according to the information available.
The Lakers, based in Los Angeles, compete in the National Basketball Association and are among the most recognisable names in the sport. The planned sale would represent a significant change at ownership level shortly after Walter’s move to majority control.
No further details were provided about the buyer, the structure of the transaction or the timetable for completion. It was also not stated whether the deal remains subject to any formal approvals.
The latest known position is that the franchise is to be sold for the reported $12.5bn figure, with the timing notable because it follows Walter’s majority stake purchase by less than a year.
