The billionaire co-owner of Chelsea and Dodgers is lining up a record $10billion deal to purchase majority ownership of the Los Angeles Lakers to the Buss family.
In case it is accepted, it will be the biggest sale of a US professional team in history breaking the previous Celtics record of $6.1 billion
Walter currently has an approximate 26 percent stake in the Lakers, and a first refusal right to an investment made in 2021.
He is also the owner of Dodgers, Sparks, and is a shareholder of Chelsea FC as the CEO of Guggenheim Partners and TWG Global.
Notably, Jeanie Buss will retain her ownership of at least 15 percent and remain the team governor in the foreseeable future.
It is likely to be approved by NBA in weeks to come
Legend Magic Johnson hailed it as a great move and said Walter is the best custodian of Lakers legacy.
He was also successful with the Dodgers having won two World Series and eleven division titles
With the change of ownership, fans and pundits are keen on what is happening to the Lakers.
Can the winning formula that Walter employed at Dodger Stadium be applied in the NBA court? The next several months will help determine if this franchise record-setting transaction introduces a new dynasty in purple and gold.
