Buss Family to Sell Majority Stake in Lakers to Mark Walter for $10 Billion
The Buss family has agreed to sell a majority stake (about 66%) in the Los Angeles Lakers to Mark Walter, CEO of Guggenheim Partners and TWG Global, in a deal valuing the franchise at $10 billion—setting a new record for the largest sale of a U.S. sports team.
This isn’t Walter’s first foray into major-league sports. Already involved with the Los Angeles Dodgers, Los Angeles Sparks, Chelsea F.C., and the new Cadillac F1 team, Walter’s growing empire showcases strong sports-sector influence.
Despite the sale, the Buss family retains a 15% minority share, and Jeanie Buss—daughter of legendary owner Jerry Buss—will remain as team governor, keeping the family’s leadership and daily operations in place.
Lakers icon Magic Johnson, who is co-owner of both the Dodgers and Sparks, praised the deal on X:
“Laker fans should be ecstatic… Mark is driven by winning, excellence, and doing everything the right way.”
He commended Jeanie Buss for choosing "the best caretaker of the Laker brand".
The $10 billion valuation doubles the recent Celtics sale (about $6.05 billion), signaling rising franchise valuations across the NBA. It marks a transition from the Buss era—Jerry bought the Lakers in 1979 for $67 million—and reflects 46 years of family stewardship.
This sale ends a storied 46-year Buss-era chapter, yet retains organizational continuity under Jeanie’s governance. With Mark Walter’s impressive track record in sports ownership and Johnson’s endorsement, the Lakers appear poised for a new era of investment and excellence. At $10 billion, the deal not only shatters valuation records—it sets an ambitious standard for sports business ahead.
