Today marks a pivotal moment in sports history: the Buss family has reached an agreement to sell a majority stake in the Los Angeles Lakers to Mark Walter, chairman and CEO of TWG Global, in a blockbuster deal valuing the franchise at approximately $10 billion. This surpasses the record set earlier this year by the Boston Celtics’ $6.1 billion sale.
“The Buss family has agreed to sell a controlling stake in the Los Angeles Lakers to Mark Walter … valuing the franchise at a record-breaking $10 billion.” — Associated Press
ESPN confirms that the deal will make this sale “the most ever for a U.S. professional sports franchise”, effectively ending the Buss family’s 46-year stewardship since Jerry Buss purchased the team in 1979 for just $67.5 million and built the Lakers into the iconic “Showtime” dynasty.
Despite the change in ownership, Jeanie Buss—who has served as team governor since 2013—will remain in her role, ensuring continuity in leadership.
The buyer, Mark Walter, already holds stakes in multiple major teams including the Dodgers and the Sparks. The deal consolidates his local influence and shows the powerful appeal of Premier League soccer titan Todd Boehly’s team, Chelsea, where Walter also holds minority ownership.
“Laker fans should be ecstatic … He is driven by winning, excellence, and doing everything the right way … Mark Walter is the best choice and will be the best caretaker of the Laker brand.” — Magic Johnson, Lakers legend and business partner of Walter’s
This statement reflects the optimism surrounding Walter, who famously transformed the Dodgers into a dominant force—two World Series titles and 11 division crowns over his tenure.
Why This Sale Matters
- Unprecedented valuation: At $10 billion, the Lakers become the most valuable sports team in North American history.
- End of an era: The sale closes a nearly five-decade chapter under the Buss family, a dynasty unmatched in NBA history.
- Strategic continuity: Jeanie Buss’s continued involvement ensures stability on and off the court.
- Financial muscle: With Walter’s track record, the Lakers are expected to deepen investments in player development, analytics, and infrastructure.
Looking Ahead
With LeBron James holding a $53 million player option due by June 29, and the high-profile acquisition of Luka Doncic in February, Walter’s leadership could reshape the Lakers’ strategy in free agency and on the court. Under his Dodgers regime, investments extended beyond wins to elite facilities and analytics teams—expect a similar transformation in Los Angeles basketball.
Watch this space as a new chapter begins in Lakers history—one backed by deeper pockets and a renewed vision that blends legacy with innovation.
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