LOS ANGELES: In a landmark transaction, the Buss family has agreed to sell a controlling stake in the Los Angeles Lakers to billionaire Mark Walter, owner of the MLB’s Los Angeles Dodgers, in a deal that values the iconic NBA franchise at a staggering $10 billion—the highest valuation ever for a professional sports team.
Walter, who already owns 26% of the Lakers, is acquiring an additional 66% stake, effectively becoming the majority owner of the 17-time NBA champions. The transaction eclipses the previous record set by the sale of the Boston Celtics, valued at $6.1 billion.
Despite relinquishing majority control, the Buss family will retain a 15% minority stake, and Jeanie Buss—who has served as team governor since 2013—will continue in that role for the foreseeable future, ensuring some continuity in leadership.
End of an Era
The sale marks the end of a historic chapter. The Buss family has been at the helm of the Lakers since 1979, when the late Dr. Jerry Buss purchased the franchise for just $67.5 million. Under the family’s stewardship, the Lakers became one of the most successful and recognizable brands in sports, winning 11 NBA championships and cultivating a global fan base.
The franchise has been home to some of basketball’s greatest legends, including Kobe Bryant, Magic Johnson, Kareem Abdul-Jabbar, Shaquille O’Neal, and LeBron James.
A New Chapter Under Mark Walter
Mark Walter is no stranger to the world of elite sports. Beyond the Dodgers, he holds ownership stakes in Chelsea FC, a Formula 1 team, and the WNBA’s Los Angeles Sparks. His broad experience and strategic investments in global sports suggest a forward-looking approach to managing the Lakers in a rapidly evolving entertainment and media landscape.
Though the ownership changes hands, fans and analysts believe the team’s competitive legacy and brand strength will remain intact with Walter’s vision and Jeanie Buss’s continued leadership.
This historic deal not only reshapes the future of the Lakers but also sets a new benchmark in the valuation of sports franchises worldwide.