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NBA: Los Angeles Lakers To Sell Majority Ownership In Historic Deal

NBA: Los Angeles Lakers To Sell Majority Ownership In Historic Deal

The Lakers, with their star player LeBron James, are said to be sold to billionaire financier Mark Walter

The majority stake of the Los Angeles Lakers basketball franchise is being sold in what will mark the most expensive sale of a US sports team in history, according to a source familiar with the deal.

The Buss family has owned the team – one of the most iconic in sports globally – since 1979 and now has made a deal with TWG Global CEO Mark Walter, the source said.

The sale is reportedly worth an estimated $10 billion (£7.45bn) – though it could increase once finalised.

Mr Walter also has a controlling stake in the Los Angeles Dodgers, the professional US baseball team that won the World Series last year.

The BBC has contacted the Lakers for comment.

A spokesperson for Mr Walter’s company confirmed the billionaire financier was in the midst of a deal with the Lakers.

“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 spokesperson said.

In 2021, Mr Walter became a co-owner of the team with a 20% stake. He has investments with various sports teams globally, including the Chelsea Football Club and the Cadillac Formula 1 Team, which is set to enter racing in 2026.

The deal comes after the March sale of the Boston Celtics basketball team to Bill Chisholm for $6.1 billion – which at that time was dubbed the priciest sale of a US sports franchise. It had surpassed the 2023 sale of the Washington Commanders American football team for $6.05 billion.

US media reported Wednesday that the National Basketball Association team’s valuation is at least $10 billion. Its sale will surpass those record-breaking deals by about $4 billion.

Jerry Buss bought the team in a $67.5 million deal in 1979 that included the Los Angeles Kings hockey team and a Los Angeles arena, known as the Kia Forum.

Since that time, the Lakers have won more championship titles than any other NBA team. They’ve appeared at the NBA Finals 17 times under the Buss family ownership and won the championship 11 times.

The team – currently led by superstar LeBron James – made it to the playoffs the last three seasons but was eliminated.

After Mr Buss died in 2013, ownership was passed to his six children in a trust. The family owns a 66% stake in the franchise.

Jeanie Buss has served as the Lakers’ governor since that time – a position she’s reportedly going to keep under the terms of the sale to Mr Walter.

The Los Angeles Times reports the trust required the majority of the six children to agree on any sale of the team.

Lakers legend Magic Johnson, who previously owned a stake in the team, said fans should be ecstatic about the sale and that Mr Walter will carry on the team’s legacy – noting his ownership of the Dodgers led to a World Series win.

“I just talked to my sister Jeanie Buss to tell her congratulations, and that I’m so happy for her and family,” Mr Johnson said on X.

“She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans!” he said in another post. “Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community!”

Bbc.com

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Lando Norris Edges Max Verstappen By 0.008 Seconds In Abu Dhabi GP First Practice

Title contenders Lando Norris and Max Verstappen set the pace in the first practice session at the Abu Dhabi Grand Prix, ending the day tied at the very top of the timesheets.

Norris, in his McLaren, edged Verstappen’s Red Bull by a mere 0.008 seconds, while Ferrari’s Charles Leclerc came in third, followed by Mercedes’ Kimi Antonelli in fourth.


Championship Scenarios

Norris currently leads Verstappen by 12 points heading into the season finale. The Briton can secure his first Formula 1 World Championship if he finishes on the podium, regardless of other results.

Conversely, Verstappen will claim the title if he wins the race and Norris finishes lower than third.

Meanwhile, Norris’ team-mate Oscar Piastri, 16 points behind, faces a steep challenge to become champion. He sat out the first session as IndyCar driver Pato O’Ward completed one of McLaren’s mandatory rookie runs.


Session Context

The first practice in Abu Dhabi is known for being unrepresentative, as it runs in daylight while qualifying and the race occur at twilight, transitioning into night. Many teams opted to run rookie drivers, with only Mercedes and Sauber fielding both of their race drivers.

Leclerc’s performance was promising for Ferrari, finishing just 0.016 seconds off the pace. He shared the session with his brother, Arthur Leclerc, adding to the rookie experience.


As the season reaches its climax, all eyes will be on Norris, Verstappen, and Piastri as they battle for the ultimate prize in a thrilling Abu Dhabi finale.


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2nd Niger Delta Games: Tournament Organisers Impressed With Facilities In Edo State

 

Consistent with its project execution routine, Dunamis-Icon Limited, Project Consultants of the Niger Delta Games, has concluded the first phase of physical inspection and evaluation of facilities for the event, 24 hours after the presentation of the hosting right to Edo State was performed.

The project management team was guided round select facility locations in Benin City by Desmond Amadin Enabulele, Executive Chairman of the Edo State Sports Commission, and the team leader, Sir Itiako Ikpokpo expressed satisfaction with the sports infrastructure assets of the host.

“Edo is a ready-made choice based on all the factors that are necessary to host this kind of big event. We are expecting over 3000 athletes coaches, alongside journalists and technical officials, with an approximate number of people outside spectators in the range of 5000. So, we need facilities that work for the games itself”, Ikpokpo explained.

He commended the Edo State Government for the good state of facilities at the Samuel Ogbemudia Stadium, and promised that the state will be assisted with the renovation of some of the facilities as may be necessary to ensure good competition experience for the athletes.

“I have been to the iconic Ogbe Stadium and must commend the Edo State Government for maintaining the facilities there. We are also considering taking some events to the University of Benin, so that people in that part of the city can also feel and enjoy the fun. Where need be, we will also see how to assist the state and the University of Benin to add value to some of the sporting facilities”.

Dunamis Icon Limited is the franchise rights owner to the games conceived and designed to provide a platform for unity and integration, and identifying and grooming talented youths from the region into national and international stars.

The NDDC as the flagship interventionist agency for the nine states that make up the region, is the prime sponsor of the games as part of their strategic focus on youth engagement and human capital development.

The inspection tour began at the Samuel Ogbemudia Stadium, after a brief meeting with Enabulele and the Sports Commission team at his office.

Areas inspected include the stadium’s main bowl, the tartan track, the state box, the VIP lounges and other key areas like the ceremonial room, the media studio and other indoor facilities.

Other facility locations assessed are the Wire Road Sports Centre being listed to host basketball and volleyball games, the University of Benin Sports Complex, and the Etete Sports Centre.

In the entourage of Dunamis-Icon were the Project Director, Mr Fred Edoreh; Director of Facilities and Equipment, Dr Emmanuel Ochuko Igbigbisie; the head of Communications, Harry Iwuala; Head of Transport and Logistics, Israel Umueri Afoke. Tournament Organisers

Others are Theresa Ineke, Head of Secretariat, Godwin Enakhena, the Head of Scouting, Mr. Edi Lawani, the Head of Culture Affairs and Entertainment and Elder Siegha Porbeni of the Technical Department.

The Edo Sports Commission Chairman was also supported by Hon. Frank Ilaboya and Mrs Sabina Chikere, Executive Directors, with Mr Baldwin Bazuaye (MON) also in the company.

 

 

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Niger Delta Games 2026: We’ll Deliver A Memorable Championship – Edo State Gov Assures NDDC 

 

 

Edo State Governor, Senator Monday Okpebholo, has affirmed the readiness of the State to host the next edition of the Niger Delta Sports Festival slated for, February, 2026.

He made the commitment on Tuesday when the management of the Niger Delta Development Commission (NDDC) paid him a courtesy visit at Government House, Benin City.

Governor Okpebholo who welcomed the NDDC’s proposal pledged that Edo State would deliver a successful and memorable sports festival. “You have chosen the right state,” the Governor said.

“We are not just the Heartbeat of the Nation for nothing. We have the strength, we have the athletes, and we have what it takes to win every sporting activity.”

The Governor also appealed to the NDDC for a partnership to rehabilitate the Agbor–Uromi Road, which he described as “not motorable,” stressing its importance for economic and social movement.

In his remarks, the NDDC Managing Director, Chief Dr. Samuel Ogbuku, congratulated Governor Okpebholo on his one year in office and commended his administration’s strides, particularly in the area of sports and infrastructural development.

He explained that the visit was to formally seek Edo State’s hosting of the forthcoming Niger Delta Games with the theme “Beyond Oil: Harnessing Talents.”

According to him, the festival whose maiden edition was held earlier this year with over 3,000 athletes from the nine Niger Delta States, was designed to strengthen regional integration using sports as a unifying tool.

He emphasized the importance of fostering collaboration between the NDDC and State Governments, noting that past tensions had hindered progress.

“Your Excellency, NDDC is not a government. It is an interventionist agency. We must always work with state governors if we want to succeed. One of the greatest problems we had in the past was opposition from state governments, but we are bridging that gap,” Ogbuku said.

He highlighted ongoing and completed NDDC projects in Edo State, including interventions in erosion control, ecological challenges, and internal roads in Ambrose Alli University, Ekpoma, and Edo State Polytechnic, Usen.

“We know these challenges are bigger than one state alone. That is why we seek partnership,” he added.

In his closing remarks, the Chairman of the Edo State Sports Commission, thanked the governor for his strong support and commitment to sports development.

With Edo’s advanced sporting infrastructure and renewed regional collaboration, the February festival is expected to draw athletes from Delta, Rivers, Bayelsa, and other Niger Delta states, positioning Edo as a central hub for sports excellence in the region.

Also present were the Deputy Governor, Rt. Hon. Dennis Idahosa; Secretary to the State Government, Umar Musa Ikhilo, Esq; Chief of Staff, Alhaji Gani Audu; Chairman, House Committee on Sports, Hon. Okogbe Donald; and the Chairman of the Edo State Sports Commission, Amadin Desmond Enabulele, among other officials.

 

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