It’s the dawn of a new era in Tinseltown.
After more than four decades of ownership, the Buss family is reportedly selling its majority stake in the Los Angeles Lakers to billionaire Mark Walter in a record-breaking $10 billion deal, according to NBA senior insider Shams Charania.
BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale.
— Shams Charania (@ShamsCharania) June 18, 2025
Walter, the CEO and chairman of TWG Global, already owns 26% of the Lakers and is expected to take full control of the franchise pending league approval.
The Buss family will retain a minority stake of around 15%, while Jeanie Buss will remain as team governor and continue overseeing day-to-day operations for the foreseeable future.
Marking the most expensive franchise sale in U.S. sports history, the deal also signals the end of a 46-year era of Buss family ownership that helped shape not only the Lakers but professional basketball itself.
The largest sale of a professional sports franchise in the world 😳
— SportsCenter (@SportsCenter) June 18, 2025
(via @ShamsCharania)
Dr. Jerry Buss purchased the Lakers in 1979 for $67.5 million — a deal that also included the NHL’s Los Angeles Kings and the Forum in Inglewood.
Under his leadership, and later that of his children, the Lakers captured 11 NBA championships — the most by any team during that stretch.
From the ‘Showtime’ magic of Magic Johnson and Kareem Abdul-Jabbar, to the dominance of Shaquille O’Neal and Kobe Bryant, and into the LeBron James era, the Lakers have rarely strayed from the NBA spotlight.
They won five titles during the Showtime and Kobe-Shaq years, added two more with Bryant and Pau Gasol, and lifted their latest trophy in 2020. Just this season, they turned heads again by pulling off a blockbuster trade for Luka Doncic.
Walter brings a deep résumé in sports ownership. He’s the controlling owner of MLB’s Los Angeles Dodgers, a co-owner of the WNBA’s Sparks, and holds stakes in Premier League club Chelsea and the upcoming Cadillac Formula 1 team.
The deal comes amid a broader shift in NBA ownership. Mark Cuban sold a majority stake in the Dallas Mavericks in 2023, and earlier this year, the Boston Celtics reached a $6.1 billion agreement to sell the team — a figure now dwarfed by the Lakers' $10 billion valuation.
[ALSO READ: Bill Chisholm takes over Celtics ownership after record $6.1 billion purchase--reports]
