End of an Era: Buss family to sell majority ownership of the Lakers to Mark Walter in a record-breaking $10 billion deal

The Buss family, owners of the Los Angeles Lakers, are reportedly entering into an agreement to sell a majority stake in the franchise to TWG Global CEO Mark Walter in a record-breaking $10 billion deal, according to ESPN.

This deal would represent the highest amount ever paid for a professional sports franchise in the United States, thereby making the Lakers the most valuable sports team in the country’s history. The report adds that the Buss family will retain a minority share in the team—around 15 percent—for a certain period of time. Additionally, Jeanie Buss will continue to serve as the team governor and will run the team “for at least a period of time,” as stipulated in the agreement between Buss and Walter.

Lakers icon Magic Johnson, a business partner of Walter and a close friend of Jeanie Buss, endorsed the sale on social media, stating that fans should be pleased with the decision.

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. pic.twitter.com/1Da6LDD7TJ

— Shams Charania (@ShamsCharania) June 18, 2025

“Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding when you look at what he’s accomplished with the Los Angeles Dodgers. Mark has been nothing short of a winner, notching two World Series titles and 11 NL West divisional titles in the last 12 years,” Johnson wrote in a post on X (formerly Twitter).

“A few things I can tell you about Mark—he is driven by winning, excellence, and doing everything the right way. And he will invest the resources needed to win. I understand why Jeanie sold the team to Mark Walter: they are very much alike. They are competitive, generous, and both prefer to work behind the scenes. This makes all the sense in the world,” he added.

Walter is best known as the primary owner and chairman of the Los Angeles Dodgers, which he acquired in 2012 for $2.2 billion. He also owns significant stakes in several other sports entities, including the Los Angeles Sparks, the Billie Jean King Cup, the Cadillac Formula 1 team, and the Professional Women’s Hockey League. The 65-year-old has held a 26% stake in the Lakers since 2021.

This sale is expected to mark the end of the Buss family’s primary ownership of the Lakers—an iconic brand they have led for 46 years. Jerry Buss originally purchased the Lakers in 1979 for $67.5 million. Following his death in 2013, ownership passed to his children, with Jeanie Buss taking on the role of team governor.

The Lakers are arguably the most popular NBA team globally and have been the most successful since Jerry Buss bought the franchise, winning 11 league titles since 1990—more than any other team in that span.

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