In a landmark deal that reshapes the landscape of professional sports ownership, Mark Walter, the prominent owner of multiple sports properties including MLB’s Los Angeles Dodgers, has agreed to acquire the majority stake in the iconic Los Angeles Lakers NBA franchise from the Buss family. The agreement values the Lakers at an unprecedented $10 billion (€7.81 billion), setting a new world record for the sale of a professional sports team.
This historic transaction marks the end of an era for the Buss family, who have held control of the Lakers for 46 years since Dr. Jerry Buss purchased the team in 1979. Under their stewardship, the Lakers became one of the most successful and globally recognized franchises in sports, accumulating 11 NBA championships and fostering legendary eras like “Showtime” and the Kobe-Shaq dynasty.
While the terms of the deal indicate a shift in majority ownership to Walter’s holding company, TWG Global, Jeanie Buss – who took over as principal owner after her father’s passing in 2013 – is expected to retain a minority stake and continue in her role as the team’s governor. This arrangement aims to ensure continuity and preserve the deep legacy built by the Buss family.
Mark Walter, known for his ownership of the Los Angeles Dodgers (which he acquired in 2012 and has seen significant success, including two World Series titles and 11 NL West divisional titles in the last 12 years), the WNBA’s Los Angeles Sparks, and stakes in Premier League club Chelsea and the Cadillac Formula 1 team, is now poised to become one of the most powerful figures in global sports.
Lakers legend Earvin “Magic” Johnson, a co-owner with Walter in the Dodgers, publicly expressed his excitement, stating, “Laker fans should be ecstatic. A few things I can tell you about Mark – he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!” Johnson added that he could understand why Jeanie Buss made the deal, as she and Walter are “just alike” in their competitive spirit and dedication.
The $10 billion valuation dramatically surpasses previous records for sports franchise sales, including the Boston Celtics’ recent $6.05 billion sale in March 2025 and the Washington Commanders’ NFL team sale at $6.05 billion. This monumental deal not only underscores the immense value of premier NBA franchises but also reflects the growing appetite among global investors for ownership in high-profile sports assets.
As the Lakers prepare for a new chapter under Mark Walter’s leadership, the sporting world will be keenly watching to see how this record-breaking acquisition impacts one of basketball’s most storied franchises.
