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Buss Family Agrees to Sell Lakers to Mark Walter

Key Point Summary – Buss family sells Lakers

  • Buss family selling majority stake in Lakers for $10 billion
  • Buyer is billionaire Mark Walter, already a partial stakeholder
  • Jeanie Buss will remain in place as Lakers governor
  • Walter also owns stakes in Dodgers, Sparks, F1, and more
  • Deal becomes largest U.S. pro sports team sale ever
  • Lakers have been Buss family-owned since 1979
  • Comes after recent billion-dollar NBA team sales by Cuban and Grousbeck

$10 Billion Deal Shocks NBA World

In a historic sports business move, the Buss family has agreed to sell majority ownership of the Los Angeles Lakers to billionaire Mark Walter at a record-shattering $10 billion valuation.

Sources confirmed to ESPN that while the majority stake is changing hands, Jeanie Buss will remain with the team in her current role as governor.

This transaction marks the largest sale in U.S. professional sports history, blowing past recent deals involving other NBA franchises.

End of an Iconic Era in LA

The Lakers have been under Buss family ownership since 1979, when Jerry Buss purchased the franchise for $67.5 million—a deal that also included the LA Kings and the Forum arena.

Since then, the Lakers have captured 11 NBA championships, more than any other franchise in that span. The team became a cultural and athletic dynasty, attracting legends from Magic Johnson to Kobe Bryant.

Ownership passed to Buss’ children in 2013 after Jerry’s death. Jeanie Buss has been the public face and decision-maker since.

Who Is Mark Walter?

Mark Walter is no stranger to Los Angeles sports. As chairman and CEO of TWG Global, a wide-ranging investment firm, he already holds stakes in:

  • The Los Angeles Dodgers
  • The Los Angeles Sparks
  • The Cadillac Formula 1 team
  • The Billie Jean King Cup
  • The Professional Women’s Hockey League

He became a stakeholder in the Lakers in 2021 and secured a right of first refusal should the Buss family ever opt to sell the majority. That moment has now arrived.

NBA Billionaires Reshaping League

Walter’s takeover follows a trend of recent mega-sales in the NBA:

  • Mark Cuban sold a majority stake in the Dallas Mavericks for $3.5 billion
  • Wyc Grousbeck offloaded the Boston Celtics for $6.1 billion

The Lakers sale now stands atop them all, resetting expectations for NBA franchise value as television rights, branding, and international growth continue to boost worth.

Jeanie Buss Stays in Power—For Now

Although the Buss family is relinquishing control, Jeanie Buss’ continued role as governor is seen as a stabilizing move.

Sources say the agreement includes her remaining active in leadership, at least for the foreseeable future. Walter, while the majority owner, is expected to be more hands-off in day-to-day basketball operations.

That means Lakers fans may not see much of a shift immediately, but long-term influence will almost certainly change course under TWG’s broader vision.

What This Means for the Lakers

This sale won’t just rattle the NBA—it could reshape the team’s business model. With Walter’s extensive reach into multiple sports and leagues, the Lakers may now be positioned to expand even further as a global brand.

The team’s next television rights deal, digital strategy, and international growth opportunities could all accelerate under new ownership.

For fans, it’s the end of an era—and possibly the beginning of a much more corporate, multi-sport future.

A Legacy That Won’t Be Forgotten

The Buss name has been synonymous with Showtime, championship banners, and bold leadership.

Selling the team marks a symbolic turning point—not just for the franchise, but for the NBA itself, which continues its evolution into a league of billion-dollar boardroom deals.

Still, Jeanie Buss will stay involved, at least in title. And for many Laker faithful, that small continuity may offer a sense of reassurance amid this seismic change.

The purple and gold legacy now moves into a new chapter—one written with ten billion dollars.

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