A historic chapter in the Los Angeles Lakers’ history is nearing its end. The Buss family, longtime stewards of the iconic NBA franchise, has reached an agreement to sell majority ownership to billionaire investor Mark Walter, CEO of TWG Global, according to ESPN.
Buss Family Sells Majority Stake In Los Angeles Lakers
Jeanie Buss, who has served as Lakers governor since her father Jerry Buss passed in 2013, will remain in her role as the team transitions into new ownership.
Shams Charania posted to social media, “Mark Walter is entering agreement to purchase majority ownership of the Lakers from the Buss family for a valuation of approximately $10 billion, the largest sale of a professional sports franchise in the world, sources tell ESPN.”
Walter, already a minority stakeholder in the franchise since 2021, exercised his right of first refusal on the majority share. With a reported personal net worth of $10.6 billion in 2025, Walter brings extensive experience in sports ownership, holding interests in the Los Angeles Dodgers, Los Angeles Sparks, and several global sports properties through TWG Global.
The Buss family purchased the Lakers in 1979 for $67.5 million—a deal that also included the Los Angeles Kings and The Forum. Under Jeanie’s leadership, the Lakers landed LeBron James in 2018 and secured an NBA title in 2020. Today, the team is valued at approximately $7 billion and remains one of the most powerful brands in professional sports.