The Los Angeles Lakers, one of the most iconic franchises in professional sports, is changing hands. The Buss family, which has controlled the team since 1979, has agreed to sell its majority ownership—approximately 66 percent—to billionaire Mark Walter, CEO of TWG Global and co-owner of the Los Angeles Dodgers, in a deal valued at around $10 billion. If finalized, this will stand as the most expensive sale of any U.S. professional sports franchise in history
Mark Walter is no stranger to major sports acquisitions. In 2012, he acquired the Dodgers as part of a Guggenheim-led group, and has been at the helm for two World Series titles and 11 division crowns since then . In 2021, he and fellow Dodgers owner Todd Boehly bought a 27 percent stake in the Lakers from Philip Anschutz’s AEG, valuing the team at around $5 billion With that minority investment came rights of first refusal—rights that Walter is now exercising in acquiring full control from the Buss family
Though the financial magnitude of this transaction dwarfs previous NBA sales—the Dallas Mavericks sold for $3.5 billion in 2023, and the Boston Celtics exchanged hands for about $6.05 billion earlier this year—it’s the sheer value that stands out . When Jerry Buss purchased the Lakers, Los Angeles Kings, the Forum, and land in Inglewood for $67.5 million in 1979, few could have predicted this outcome. Under his leadership, the Lakers transformed into a global brand, winning 10 championships during the “Showtime” era and establishing cultural significance far beyond basketball (. Today, the team’s valuation has soared to nearly 150 times that original investment.
Jeanie Buss inherited leadership in 2013 after her father’s passing. Revered as the first female controlling owner to guide a team to an NBA title—the 2020 championship in the Orlando bubble—she has overseen the franchise’s operations and been a key voice on the NBA Board of Governors The family, while relinquishing majority control, will retain a minority stake of just over 15 percent for a transitional period. Jeanie is expected to remain on as team governor, maintaining continuity and preserving the family presence
NBA Hall of Famer Earvin “Magic” Johnson, a former Lakers guard and Dodgers co-owner, lauded the deal: “Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy… Mark Walter is the best choice and will be the best caretaker of the Laker brand.” He emphasized Walter’s commitment to excellence, referencing his winning track record in baseball NBA pundits and analysts have chimed in, noting that the sale signals a continuing trend: elite sports franchises are becoming the territory of ultra-wealthy investors. Media rights, global fanbases, and commercial opportunities are pushing franchise valuations into the stratosphere . The Lakers have consistently topped revenue charts, buoyed by their presence in the lucrative Los Angeles media market and a lucrative lease at Crypto.com Arena, secured through 2041 with major enhancements planned . Financial reports place the Lakers among the top three most-valuable NBA teams—behind the Warriors and Knicks—with a valuation nearing $7.1 billion in 2024, according to Forbes
Despite its enormity, the transaction is unlikely to change the Lakers’ day-to-day operations overnight. Jeanie Buss’s continued governance ensures leadership stability, while Walter’s existing minority stake and experience with AEG’s media investments and sports portfolio suggest a smooth transition. Still, this change signals a new era of even greater resources and ambition for the organization
What might this mean for the Lakers on the court? With a high-profile offseason ahead, including the decision by LeBron James—who has a player option for 2025-26—to return, the combination of financial muscle and roster flexibility could lead to more aggressive moves in free agency or trades . For the brand, it broadens the scope for cross-franchise marketing, content creation, and digital fan engagement—leveraging the Dodgers-Lakers-Sparks synergy to unlock innovative revenue streams .
Jeanie has consistently emphasized the importance of preserving team culture and mental health initiatives, treating staff and players as family—a philosophy inherited from her father Walter, known for long-term thinking and patience, has already invested significantly in the Dodgers and Sparks; analysts expect he’ll bring the same approach to the Lakers.
Regarding league governance, the NBA’s Board of Governors must approve the deal, a step expected to go smoothly given Walter’s existing 20 percent ownership stake and long-standing presence in the NBA’s ownership circles .
Although some fans view the passing of the Buss majority as the end of an era, others see this as an opening for boundless opportunity. The foundation that Jerry Buss laid, Jeanie Buss built upon, and Mark Walter now inherits is solid—but the future could surpass the past in ambition and reach.
This sale is profoundly symbolic. It signifies the end of the Buss family’s four-decade majority control, the most sustained single-family ownership in NBA history It also highlights how big-market teams have become financial prizes, attainable only to billionaire investors with extensive portfolios. Yet the continuity built into this deal—Jeanie’s governance, retained minority ownership, league support—allows fans to take solace that the Lakers’ heritage won’t be sacrificed to profit or short-term gains.
Questions linger: Will this capital infusion result in renewed championships? How will the Lakers harness synergy across Los Angeles sports properties? What role will emerging technologies, media deals, and global branding play in shaping the next decade?
One thing is certain: the story of the Lakers is entering its most consequential chapter since the construction of the Forum or the reign of Shaq and Kobe. As a franchise once built on bold vision and showmanship, this moment feels cinematic. The Lakers will now be led by a billionaire investor whose ambitions match the team’s legendary status and whose resources can amplify that legacy on a global scale.
The sale to Mark Walter, with Jeanie Buss still in the governor’s chair, balances innovation and tradition. The next era may redefine what it means to be the Lakers—in performance, presence, and perception. For fans, the hope remains unchanged: more banners, more glory, more Showtime.
