Mark Walter Purchases Lakers in Record-Breaking $10B Sale
Published On: June 19, 2025.
The Los Angeles Lakers are set to be sold to Mark Walter, the controlling owner of the Los Angeles Dodgers, in a record-breaking deal valued at approximately $10 billion. This deal marks the end of the Buss family's nearly five-decade stewardship of the Lakers.
The Lakers, a cornerstone of the NBA with 18 championships, have been under the ownership of the Buss family since 1979, when Jerry Buss purchased the team for $67.5 million. Under the Buss family's guidance, the Lakers became synonymous with success, highlighted by the "Showtime" era of the 1980s and continued dominance in the 2000s and 2020s. Jeanie Buss, Jerry's daughter, has served as the team's governor since 2013, overseeing operations and maintaining the franchise's legacy.
Mark Walter, CEO of diversified holding company TWG Global, has been a minority stakeholder in the Lakers since 2021, when he and Todd Boehly acquired a 27% stake from AEG. As part of that agreement, Walter was granted a right of first refusal on any future majority sale. His extensive sports portfolio includes ownership of the Dodgers, the Los Angeles Sparks, a minority stake in Chelsea FC, and involvement in the Cadillac Formula 1 team and the Professional Women's Hockey League.
The $10 billion valuation of the Lakers surpasses the previous record for a U.S. sports franchise, set earlier this year when the Boston Celtics were sold for $6.1 billion. This sale underscores the growing financial power of NBA teams and the global appeal of the Lakers brand. The Lakers' consistent on-court success, combined with their expansive global fanbase, has contributed to their elevated valuation.
Despite the change in majority ownership, Jeanie Buss will retain her role as the Lakers' governor. The Buss family will also maintain a minority stake of just over 15% for a limited period, ensuring their continued involvement in the team's operations. This arrangement reflects a commitment to preserving the franchise's legacy while transitioning to new leadership.
The sale has garnered reactions from various stakeholders within the basketball community. Lakers legend Magic Johnson, who is also a minority owner of the Dodgers, expressed strong support for the deal. He praised Jeanie Buss for selecting Walter as the team's new steward, emphasizing Walter's track record of success with the Dodgers and his shared values with the Buss family. Johnson highlighted Walter's commitment to excellence and his willingness to invest in winning, qualities that align with the Lakers' storied history.
The transition of ownership comes at a pivotal time for the Lakers. The team is navigating the impending retirement of LeBron James and the integration of young talent like Luka Dončić, acquired in a high-profile trade earlier this year. The new ownership's approach to team-building and financial investment will be closely scrutinized as the Lakers aim to maintain their competitive edge in the evolving NBA landscape.
As the Lakers embark on this new chapter, the sports world will be watching closely to see how Mark Walter's leadership influences the team's direction. With his proven success in managing high-profile sports franchises and a demonstrated commitment to excellence, Walter's stewardship could usher in a new era of success for the Lakers, building upon the strong foundation laid by the Buss family.