One of the most iconic sports brands in the world is changing ownership. The Los Angeles Lakers, a name that carries decades of basketball greatness, are now headed for a new chapter after the Buss family agreed to sell its majority stake in a deal worth an estimated $10 billion, making it the biggest sports franchise sale in US history.
According to sources, the buyer is billionaire Mark Walter, the CEO of TWG Global and current co-owner of the team. Walter, already holding a 20% stake since 2021, is now finalising terms to take over the controlling interest.
The Billionaire Behind the Dodgers and More
Mark Walter isn’t a stranger to sports. He already owns a controlling share of the Los Angeles Dodgers, who recently lifted the World Series title. He also has global investments in Chelsea Football Club and the Cadillac Formula 1 Team, which is expected to debut in 2026.
His camp confirmed the deal, saying:
“Mark Walter is agreeing to acquire additional interests in the NBA’s Los Angeles Lakers…”
The deal blows past recent sports sales like that of the Boston Celtics in March ($6.1 billion) and the Washington Commanders last year ($6.05 billion). The Lakers’ valuation sits at an incredible $10B, pushing the bar even higher for franchise worth in America.
It’s a massive leap from the $67.5 million price tag in 1979, when Jerry Buss bought the team, a package that also included the LA Kings and the Kia Forum.
Jeanie Buss to Stay, Legacy Continues
Since Jerry Buss passed in 2013, the team has been under the stewardship of his six children. Jeanie Buss has been the Lakers’ governor and is expected to stay in her role even as the majority stake changes hands. The family still holds 66% ownership through a trust and needed a majority agreement from the siblings to finalise the sale.
Magic Johnson Gives His Blessing
Lakers legend Magic Johnson didn’t hold back his excitement. Posting on X, he congratulated Jeanie and praised Mark Walter’s leadership style:
“She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers…”
“Both are extremely intelligent, visionaries, and have positively impacted the greater LA community.”
With LeBron James still on the roster, a loyal global fanbase, and deep cultural impact, the Lakers remain a basketball powerhouse. As control shifts to Mark Walter, many are watching closely to see if his winning touch with the Dodgers can bring another Lakers championship era.
For the Lakers family, it’s the end of a legendary run—and the beginning of a bold, billion-dollar chapter.
