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Prosek Partners represents TWG Global CEO Mark Walter, who is buying a majority stake in the NBA’s Los Angeles Lakers from the Buss Family Trust.
The deal, which is valued at $10B, is the most expensive sale of a US sports team. Jerry Buss bought the Lakers in 1979 from Jack Kent Cooke for $67.5M.
Jeanie Buss will stay on as governor of the Lakers and continue to operate the team on a day-to-day business for the near future.
Walter has been a part owner of the Lakers since 2021. He has ownership stakes in MLB’s Los Angeles Dodgers, WNBA’s Los Angeles Sparks, Billie Jean King Cup, Cadillac Formula 1 Team, and Professional Women’s Hockey League.
He calls the Lakers “one of the most iconic franchises in sports,” which is “why you can find people anywhere in the world wearing Lakers shirts and jerseys.”
Walter has “tremendous respect for Jeanie’s continued commitment to maintaining the Lakers’ long-term vision and elite status.”
Prosek Partners’ Mickey Mandelbaum and Remy Marin represent Walter.
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