Buss Family to Sell Majority Stake in Los Angeles Lakers to Mark Walter in Record $10 Billion Deal
Walter also owns the Los Angeles Dodgers and other sports ventures
After over 40 years of ownership, the Buss family is preparing to transfer majority control of the Los Angeles Lakers. According to ESPN’s Shams Charania, the family is finalizing a deal to sell a controlling interest in the NBA team to Mark Walter, CEO and chairman of TWG Global.
Walter is already a significant figure in sports ownership, serving as the principal owner and chairman of Major League Baseball’s Los Angeles Dodgers. He also has stakes in Chelsea FC (English Premier League), a Formula 1 team, and the WNBA’s Los Angeles Sparks. Notably, he already owns a 26% minority stake in the Lakers.
The sale, reportedly valued at around $10 billion, would make it the highest-priced sale of any professional sports franchise globally. The Buss family will retain a minority share of approximately 15% for the time being. Jeanie Buss, who has served as the team’s governor since 2013, will continue in that position after the transaction.
The Lakers were originally purchased by Jerry Buss in 1979 for $67.5 million — a deal that also included the NHL’s Los Angeles Kings and The Forum arena in Inglewood, California. Ownership was passed down to his children after his death in 2013. Before this sale, the Buss family owned roughly two-thirds of the Lakers.
Mark Walter joined the Lakers ownership group in 2021 after acquiring Phil Anschutz’s 26% stake, which gave him the right of first refusal for future purchases. A CNBC report earlier in 2024 valued the Lakers at about $7 billion, placing them third among NBA franchises, trailing only the New York Knicks and Golden State Warriors.
The NBA has seen several significant franchise sales in recent years. Earlier in 2025, the Boston Celtics were sold to a group led by Bill Chisholm for $6.05 billion — then the highest price paid for an NBA team. The Phoenix Suns and Dallas Mavericks have also changed hands in recent years.
Under the Buss family’s leadership, the Lakers have become one of the most storied franchises in professional sports, capturing 11 NBA championships — the most recent in 2020 — including a three-peat from 2000 to 2002 led by coach Phil Jackson and Kobe Bryant. This season, the team made headlines again with a blockbuster trade acquiring Dallas Mavericks star Luka Dončić.
Magic Johnson, a Lakers Hall of Famer who played, coached, and served as an executive during the Buss era — and now co-owns the Dodgers with Walter — celebrated the deal.
“Laker fans should be ecstatic,” Johnson posted on X (formerly Twitter). “Mark is all about winning and excellence. He invests in success and does things the right way. I understand why Jeanie sold the team to him — they’re very similar in their approach.”
While Jeanie Buss remains at the helm, the transfer of ownership marks a historic shift for the Lakers — signaling the close of an iconic era in NBA history.
