The Buss family, long-time custodians of the Los Angeles Lakers, is reportedly set to sell its majority ownership stake in the storied NBA franchise to Mark Walter. Walter, the chief executive officer of TWG Global and the chairman and majority owner of Major League Baseball’s Los Angeles Dodgers, has an existing minority stake in the Lakers, acquired in 2021. This impending transaction, valued at an astonishing $10 billion, would represent the most expensive sale of a professional sports franchise globally.
A New Chapter for Lakers Ownership
The potential sale marks a significant moment in the Lakers’ history, a franchise that has been under the Buss family’s stewardship since 1979. Patriarch Jerry Buss initially acquired the team for $67.5 million, ushering in an era of unparalleled success that saw the Lakers clinch 10 NBA championships over 34 years. Following Jerry Buss’s passing in 2013, his daughter Jeanie Buss officially assumed control of the franchise in 2017 after a familial dispute. Under her leadership, the Lakers secured their 11th NBA championship in 2020.
Continuity Amidst Change
Despite the change in majority ownership, Jeanie Buss is expected to continue in her role as the governor of the Los Angeles Lakers. This arrangement suggests a degree of continuity in the management and vision for the team, even as the ownership structure evolves. Mark Walter’s background as a successful sports owner, notably with the Dodgers, who have achieved significant success including World Series titles in 2020 and 2024, indicates a potential for continued strong performance for the Lakers.
The End of an Era, The Dawn of a New One
The proposed sale signifies the closing of a remarkable chapter for the Buss family’s ownership of the Lakers, a period defined by legendary players and multiple championships. Simultaneously, it heralds the beginning of a new era under Mark Walter’s leadership, an individual already deeply invested in the Los Angeles sports landscape. The record-breaking valuation underscores the immense brand value and appeal of the Los Angeles Lakers, cementing their status as one of the premier franchises in global sports. The transition promises to be closely watched as the Lakers navigate this significant shift in their ownership trajectory.
