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Buss family sell LA Lakers majority stake for $10B after 46 years
Basketball fans can expect to see more glitz-and-glamour with the Los Angeles Lakers in the future.
After 46 years under the Buss dynasty, the family has decided to sell the majority stake of the iconic NBA franchise, for a whopping valuation of $10 billion dollars.
Tom Walter, CEO of the Guggenheim Group, bought the controlling interest of the team and now adds to his sports empire which includes owning the Los Angeles Dodgers.
President Jeanie Buss, the daughter of original owner Jerry Buss, has yet to announce her reasons for selling her inheritance but she will remain the Lakers’ governor at least for now, because a governor must own at least 15 percent of the team.
