LA Lakers Sold in Record-Breaking Deal to Mark Walter
In a seismic shift for professional sports ownership, the majority stake in the iconic Los Angeles Lakers basketball franchise is reportedly being sold in a deal valued at a staggering $10 billion. This historic transaction is set to become the most expensive sale of a US sports team ever recorded, dramatically resetting benchmarks for franchise valuations.
The buyer is billionaire financier Mark Walter, CEO of TWG Global, who is acquiring additional interests in the team, having already held a minority stake since 2021. The seller is the venerable Buss family, who have steered the Lakers for 46 years, transforming them into one of the most recognizable and successful brands in global sports.
The Staggering $10 Billion Price Tag
While the final figure could potentially increase upon closing, the estimated $10 billion valuation dwarfs previous record-setting sports team sales. It significantly surpasses the $6.1 billion sale of the Boston Celtics just months prior and the $6.05 billion acquisition of the Washington Commanders American football team in 2023. The Lakers’ reported price tag exceeds these recent records by approximately $4 billion, underscoring the immense value placed on the 17-time NBA champions.
This valuation also dramatically exceeds the Lakers’ December Forbes valuation of $7.1 billion, where they were ranked the eighth most valuable sports team globally.
End of a Storied Era: The Buss Family Legacy
The sale marks the end of the longest current family ownership streak in the NBA. Dr. Jerry Buss originally purchased the Lakers in 1979 as part of a $67.5 million deal that also included the Los Angeles Kings hockey team and the Kia Forum arena.
Under the Buss family’s stewardship, the Lakers enjoyed unparalleled success. They established the legendary “Showtime” brand in the 1980s, featuring Magic Johnson and Kareem Abdul-Jabbar, and later built dynasties around Shaquille O’Neal and Kobe Bryant. The franchise reached the NBA Finals 17 times and secured 11 championship titles under Buss family ownership – more championships than any other NBA team during that period.
Following Jerry Buss’s passing in 2013, control transferred to his six children via a trust that currently holds a 66% stake. Jeanie Buss, Jerry’s daughter, has served as the team’s Governor since then. While the family oversaw continued success, a critical perspective suggests recent years faced challenges attributed to potential mismanagement and a reliance on team revenue that limited further capital investment. The family trust reportedly required a majority of the six children to agree on any sale of the team.
The New Owner: Mark Walter’s Sports Empire
Mark Walter is a prominent figure in the sports and finance worlds. Beyond his role at TWG Global, he is also the co-founder of Guggenheim Partners, a global investment firm managing over $325 billion in assets. Forbes estimated Walter’s net worth at $6.1 billion as of early 2025.
Walter is already deeply embedded in the Los Angeles sports landscape as the controlling owner and chairman of the Los Angeles Dodgers. Under his ownership, the Dodgers have achieved significant success, winning two World Series titles and seeing their valuation soar from approximately $2 billion at the time of his group’s purchase in 2012 to over $7 billion today.
His sports investments extend globally, including stakes in English Premier League giants Chelsea Football Club, the WNBA’s Los Angeles Sparks, the Billie Jean King Cup in tennis, and the Cadillac Formula 1 team, which is set to enter racing in 2026. Having been a minority owner of the Lakers since 2021, Walter is now significantly increasing his commitment to the franchise. His proven track record of investing in and revitalizing sports teams makes him a compelling new steward for the Lakers.
Leadership Continuity Amidst Change: Jeanie Buss to Remain Governor
Despite the historic change in majority ownership, reports indicate that Jeanie Buss is expected to retain her position as the Lakers’ Governor. This continuity in leadership suggests that while the controlling financial stake shifts, a familiar face will continue to represent the franchise in league matters and oversee day-to-day operations. This arrangement could offer a bridge between the team’s storied past under the Buss family and its future under Walter’s guidance.
Magic Johnson’s Endorsement
Lakers legend and former part-owner Magic Johnson, who has a close relationship with both Jeanie Buss and Mark Walter (as a business partner), expressed strong support for the sale. Johnson stated that Lakers fans should be “ecstatic” about the news, believing Walter will uphold the team’s winning legacy. He cited Walter’s success in building a championship-winning team with the Dodgers as evidence, adding that both Buss and Walter are “extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community!” Johnson also commented that his late father, Dr. Buss, would be incredibly proud of the $10 billion valuation achieved for the team.
What’s Next for the Lakers?
The sale comes as the Lakers navigate recent challenges, including consecutive playoff exits despite having superstar LeBron James on the roster. General Manager Rob Pelinka recently described the situation as akin to “building an airplane in the sky,” highlighting the significant offseason adjustments needed to build a championship contender.
The arrival of a new majority owner with Walter’s financial power and track record of successful sports investment raises questions and opportunities. Will his resources lead to increased spending and infrastructure improvements? Can he replicate the Dodgers’ revitalization success with the Lakers? And what will this mean for the team’s roster strategy and the future of key players like LeBron James?
The sale requires approval from the NBA Board of Governors to become official, a standard step in such transactions. However, with prominent ownership already established in other leagues and a history with the Lakers as a minority owner, Walter’s acquisition is widely expected to be approved.
This landmark $10 billion sale signifies not only the immense global appeal and financial power of the Los Angeles Lakers but also reflects a broader trend of institutional investors and billionaires acquiring stakes in major sports franchises, often replacing traditional family ownership. The next chapter of Lakers history is set to begin under new majority ownership, promising a fascinating blend of continuity and change for one of sports’ most storied organizations.
