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The Buss family has agreed to sell majority ownership of the Los Angeles Lakers to Mark Walter, Chief Executive Officer of Guggenheim Partners and owner of the Los Angeles Dodgers, for approximately $10 billion.
According to ESPN, it’s the highest ever for a U.S. professional sports franchise.
BREAKING: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN. Jeanie Buss will continue to serve in her role as Governor after the sale. pic.twitter.com/1Da6LDD7TJ
— Shams Charania (@ShamsCharania) June 18, 2025
CBS News reports:
Current owner Jeanie Buss will retain the title of governor, meaning she’ll continue to represent the team in league matters. She’s ran the team since her father Jerry’s death in 2013.
“We can confirm: Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021,” said a statement from the team.
The expected sale is valued at about $10 billion, first reported by ESPN, shattering the current record for the largest sale of a sports team in history. The previous record was last year’s $6.1 billion sale of the Lakers’ rival Boston Celtics.
When the sale goes official, the Lakers will be the most valuable franchise in sports by nearly $4 billion.
Breaking: The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell @ShamsCharania.
Jeanie Buss will continue to serve in her role as Governor after… pic.twitter.com/5Q5AJteYzw
— ESPN (@espn) June 18, 2025
Mark Walters is purchasing a majority stake of the Los Angeles Lakers at a $10 billion valuation, per @ShamsCharania
The largest sale of a professional sports franchise in the world 😳 😳 pic.twitter.com/o0XXEZjjjY
— Fullcourtpass (@Fullcourtpass) June 18, 2025
Per ESPN:
Walter and TWG Global have interests in multiple professional sports organizations, including the Los Angeles Dodgers, Los Angeles Sparks, Premier League club Chelsea and the Professional Women’s Hockey League. And through TWG Motorsports, Walter owns several auto racing teams, including Cadillac Formula 1.
The Lakers have been owned by the Buss family since 1979, when Jerry Buss purchased the franchise from Jack Kent Cooke in a $67.5 million transaction that also included the Los Angeles Kings and the Forum. Since 1980, the Lakers have won 11 championships, the most by any NBA team during that span.
When Buss died in 2013, ownership of the Lakers went into a trust controlled by his six children, who all worked for the Lakers in various capacities for several years. An agreement was struck in 2017 calling for Jeanie Buss to serve as controlling owner, ending a battle that included her going to court after her brothers Jim and Johnny Buss called for a board meeting that she interpreted as a challenge to her power — shortly after she removed Jim Buss as the Lakers’ executive vice president of basketball operations.
The intended sale to Walter was approved by the Buss siblings through a majority vote, sources told ESPN.