Per ESPN, the Buss family has agreed to sell a majority control of the Los Angeles Lakers—valuing the franchise at approximately $10 billion—in the largest transaction in U.S. professional sports history. The buyer is Mark Walter, CEO and chair of TWG Global, who already holds a minority stake and owns the Los Angeles Dodgers and Los Angeles Sparks.
From Showtime to Sale: A Storied Ownership Legacy
The Lakers were purchased in 1979 by Jerry Buss for $67.5 million, sparking the iconic “Showtime” era of the 1980s which bred five NBA championships. Upon his death in 2013, ownership passed to his children. Jeanie Buss became the team governor and has guided the franchise through significant milestones, including the 2020 championship and the blockbuster trade for Luka Dončić.
Under the new agreement, the Buss family will retain around 15% ownership, while Jeanie Buss will continue as governor for the foreseeable future.
Walter Moves in With Deep Financial Reach
Mark Walter, an established figure in elite sports ownership, has overseen multiple successful franchises. As co-owner of the Dodgers, his stewardship has included two World Series titles and 11 division championships, and he’s led aggressive investment strategies, including in baseball payroll .
His global sports footprint extends to ownership stakes in Chelsea FC, the Billie Jean King Cup, the Cadillac F1 team, and Professional Women’s Hockey League teams. This expansion mirrors a wider trend of multi-sport conglomerates cultivating cross-league brands.
Record-Smashing Deal Places Lakers at Sport’s Pinnacle
At $10 billion, this sale surpasses the $6.05 billion Boston Celtics (sold in March) and markedly increases the $3.5 billion valuation of the Mavericks.The deal sets the Lakers apart as the most valuable franchise in global sports, underscoring the enduring worth of their brand, star power, and market size .
Analysts estimate the team’s annual asset appreciation at over 10%, dwarfing typical stock market returns—a testament to the Buss family’s prescient early investment.
Continuity with Change: Jeanie Buss to Stay at Helm
Importantly, Jeanie Buss will remain as the Lakers’ governor and operational face, ensuring organizational continuity. This arrangement fulfills NBA criteria for a principal owner and preserves the franchise’s internal leadership.
Longtime Lakers legend Magic Johnson, now a Dodgers and Sparks co-owner alongside Walter, praised the partnership:
“Mark Walter is driven by winning, excellence, and doing everything the right way… He will put in the resources needed to win!”.
He also lauded Jeanie’s judgment in choosing Walter as “the best caretaker of the Laker brand”.
Wider Context: Sports Industry on a Rising Trajectory
The sale follows a series of record-breaking sports franchise transactions—including the Celtics and Mavericks. Walter’s ascent into NBA ownership reflects a broader shift toward multi-franchise sports ownership, where synergy between teams, facilities, and commercial ventures drives value.
As a sports titan with cross-sport influence, Walter offers significant financial muscle and experience in elite-level investment—potentially shaping the Lakers’ future dynamics.
Key Considerations: What Comes Next
- Operational control: With Jeanie Buss remaining governor, fans can expect steady franchise leadership, though new capital infusion may drive roster and infrastructure enhancements.
- Future valuation: At $10 billion, the Lakers set a benchmark. Continued success and star-driven appeal could fuel further growth.
- League implications: NBA franchises may see surging valuations, driven by TV rights, global fan bases, and international expansion.
Final Word: A Defining Crossroads
This sale marks the conclusion of a transformative 46-year era under the Buss family, and the beginning of an even grander chapter. With Mark Walter’s entry as majority owner and Jeanie Buss’s ongoing stewardship, the Lakers enter a hybrid architecture rooted in history yet empowered for future ambitions.
For L.A., the synergy of Dodgers-style investment and Lakers heritage heralds renewed aspirations for championships, enhanced facilities, and global influence. This move elevates the franchise—and the wider sports league landscape—to a new premium tier.
