Chelsea co-owner Mark Walter set to buy LA Lakers in record $10bn deal | OneFootball

American billionaire expected to seal deal that will make NBA franchise the most expensive sports team in history

Walter is a director of the BlueCo consortium which owns a 12.7 per cent stake in Chelsea

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Chelsea shareholder Mark Walter is to buy the controlling stake of the Los Angeles Lakers in a $10billion (£7.45bn) deal that will make the basketball franchise the most expensive sports team in the world.

The American billionaire has agreed to buy the Lakers from the Buss family, who have owned the franchise since 1979, according to the Associated Press.

Jeanie Buss is set to retain at least a 15 per cent state, which is the minimum she would require to remain governor of the Lakers in accordance with NBA rules.

As well as owning the Professional Women’s Hockey League, Walter already has a controlling stake in the Los Angeles Dodgers baseball franchise and is a part-owner of the Cadillac Formula 1 team set to join the grid next year.

A spokesperson for Walter said in a statement: “Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021.”

The Lakers have won 11 NBA championships titles since the Buss family took control of the franchise in 1979 - more than any other team.