Buss Family to Sell Majority Stake in Lakers to Mark Walter for $10 Billion

In a historic move for professional sports, the Buss family has reportedly agreed to sell the majority ownership of the Los Angeles Lakers to Mark Walter, CEO and chairman of TWG Global, in a deal valued at approximately $10 billion. This transaction, confirmed by multiple sources including ESPN's Shams Charania on June 18, 2025, marks the largest sale of a professional sports franchise globally, surpassing the previous record held by the Boston Celtics, which was sold for $6.05 billion earlier this year.

For over four decades, the Lakers have been under the ownership of the Buss family, beginning with Jerry Buss's purchase of the franchise in 1979 for $67.5 million. Under their stewardship, the Lakers have become one of the most successful teams in the NBA, winning 11 championships, including their most recent title in 2020. Jeanie Buss, Jerry Buss's daughter, has served as the team’s governor since his passing in 2013 and is expected to retain this role post-sale.

Mark Walter, who currently owns a 26% stake in the Lakers, is also the primary owner of the Los Angeles Dodgers and holds stakes in Chelsea FC and the WNBA's Los Angeles Sparks. His acquisition of the Lakers reflects a growing trend in sports where cross-ownership among franchises is becoming more prevalent. Walter’s commitment to excellence and investment in winning strategies has been lauded by sports figures, including Lakers legend Magic Johnson, who expressed confidence in Walter’s capability to lead the franchise.

The specifics of the ownership transfer, including the exact percentage of the team Walter will control and the financial details, remain undisclosed. However, the sale signifies a pivotal transition for the Lakers, moving from family ownership to a broader investment model that may reshape the future of the franchise.

The Lakers’ valuation prior to the sale was estimated at $7 billion, making them the third most valuable team in the NBA, trailing only the New York Knicks and Golden State Warriors. This sale is set against a backdrop of increased financial activity in the NBA, with several franchises changing hands in recent years. The increase in franchise valuations reflects not only the lucrative nature of sports media rights but also the expanding global fanbase for basketball.

As the sports landscape evolves, the implications of this sale extend beyond financial metrics. It represents a shift in how franchises are operated and managed, potentially influencing competitive dynamics within the league. The Buss family’s legacy, marked by success on the court and strong community connections, will now transition into a new chapter under Walter’s leadership.

Looking ahead, the Lakers will aim to maintain their competitive edge amidst a rapidly changing sports environment. The decision to sell the team underscores the challenges and opportunities that lie ahead for franchises navigating the complexities of modern sports economics.