In a monumental transaction that marks a significant shift in the landscape of professional sports, the iconic Los Angeles Lakers franchise has been sold for the first time since 1979. Jeanie Buss and the Buss family have transferred their majority ownership of the Lakers to Mark Walter in a staggering $10 billion deal. This record-breaking acquisition represents the largest sale of a U.S. professional sports team in history, nearly doubling the previous record set by the sale of the Lakers' longtime rival, the Boston Celtics, for $6.1 billion earlier this year.

Despite the change in ownership, Jeanie Buss is set to retain her pivotal role within the organization. According to ESPN's Shams Charania, Buss will remain as franchise governor and continue to serve as the primary decision-maker for the Lakers. This arrangement appears to be a "best of both worlds" scenario for Buss, allowing her to offload much of the pressure associated with full ownership while maintaining the operational control she has exercised since 2017. Her father, Jerry Buss, purchased the Lakers in 1979 for $67.9 million, a deal that also included the Los Angeles Kings hockey team and the Los Angeles Forum arena. Under Jerry Buss's stewardship, the Lakers achieved unparalleled success, securing 11 championships since 1980, the most in the NBA during that period. Following his passing in 2013, ownership transferred to his children, with Jeanie Buss assuming controlling ownership after resolving a family dispute in 2017, which granted her lifetime operational control of the team.

The new controlling owner, Mark Walter, is a highly influential figure in the sports industry. As the CEO and chairman of diversified holding company TWG Global, Walter is already the principal owner of the Los Angeles Dodgers, having presided over their rise to juggernaut status in Major League Baseball since becoming their controlling owner in 2012. His extensive portfolio also includes stakes in the Los Angeles Sparks, the Billie Jean Cup, the Cadillac Formula 1 team, and the Professional Women's Hockey League. Walter has been a stakeholder with the Lakers since 2021 and previously held a right of first refusal on the majority share of the team. Keeping Jeanie Buss involved is considered crucial for the franchise's future, especially with the looming retirement of LeBron James and the emergence of a new era in the NBA.

Beyond the NBA, the broader basketball world is witnessing significant developments, particularly in Europe. EuroLeague CEO Paulius Motiejunas has expressed a clear vision for future collaboration between EuroLeague and FIBA, stating that “It is becoming more obvious that we have to work together.” He believes this is the inaugural meeting of many aimed at fostering the growth of basketball in Europe, leveraging the region's rich history, passionate fan base, and strong teams as a foundation. In a notable strategic move, Alba Berlin, one of Germany's premier basketball teams, has announced its departure from the EuroLeague, where it competed via a wild-card entry, to join FIBA’s Basketball Champions League. This decision is perceived as a foundational step towards potentially joining the NBA’s future league in Europe. Mark Tatum, a prominent figure in the basketball landscape, commented on Alba Berlin's move, indicating that the team has “bought into this vision of a revamped top-tier league in Europe that is going to service fans, the millions of basketball fans in Europe that currently aren’t serviced today.”

In other basketball-related news, M11es McBride, an athlete building his legacy off the court, has announced the release of his first children’s book, "Deuce: The Champion of Friendship," which is now available on Amazon.