NBA approves $10 billion sale of Lakers to billionaire Mark Walter
The NBA Board of Governors has officially approved the sale of the Los Angeles Lakers to billionaire Mark Walter, marking the end of the Buss family’s majority ownership after nearly half a century. The league confirmed the approval Thursday, calling it a “historic transition” that will be finalized soon.
Walter, the CEO of TWG Global, acquires a majority stake in the Lakers from Jeanie Buss in a deal valued at $10 billion—the highest team valuation in U.S. sports history.
NBA commissioner Adam Silver praised the move, saying, “As Mark assumes his role as majority owner of the Lakers, I have no doubt that he will be a committed steward of the team and a great addition to our league given his many successful ventures in business and sports.”
Jeanie Buss to remain Team Governor
Although the Buss family’s controlling interest is ending, Jeanie Buss will continue to serve as the Lakers’ governor for at least five more years, maintaining an active leadership role and day-to-day oversight.
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“Over the past decade, I have come to know Mark well — first as a businessman, then as a friend and now as a colleague,” Buss said. “He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and, on behalf of Lakers fans everywhere, I am beyond excited about what our future has in store.”
The Buss family will retain a minority stake of more than 15% in the franchise.
Walter Expands His Sports Empire
With the Lakers now under his control, Mark Walter holds one of the world’s most valuable collections of sports franchises. His TWG Global investment group already owns:
- The Los Angeles Dodgers (MLB)
- The Los Angeles Sparks (WNBA)
- The Cadillac Formula One team
- The Billie Jean King Cup tennis tournament
- A share in Chelsea FC (Premier League)
- A stake in the Professional Women’s Hockey League
Walter’s purchase of the Dodgers for $2.15 billion in 2012 was the largest in baseball history at the time, a move that looks prophetic as the team is now valued at nearly $7 billion.
“The Los Angeles Lakers are one of the most iconic franchises in all of sports, defined by a history of excellence and the relentless pursuit of greatness,” Walter said in a statement. “Few teams carry the legacy and global influence of the Lakers, and it’s a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era.”
End of an Era for the Buss Family
The sale closes a 46-year chapter in Lakers history that began when Dr. Jerry Buss purchased the franchise, along with the Los Angeles Kings and The Forum arena, for $67.5 million in 1979. Under Buss’s leadership, the Lakers became a global basketball powerhouse, winning 11 NBA championships and defining multiple eras — from Magic Johnson’s Showtime to Kobe Bryant’s dynasty.
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Commissioner Silver honored the Buss family’s legacy, saying, “I want to thank and congratulate Jeanie Buss and the Buss family for 46 years of transformational leadership and service. While this historic transaction transfers the Buss family’s majority interest in the Lakers, I am thrilled that Jeanie will remain an active and engaged member of our league.”
Breaking Records in Sports Valuation
Walter’s $10 billion purchase shatters the previous U.S. record — Bill Chisholm’s $6.1 billion acquisition of the Boston Celtics earlier this year.
The Lakers’ valuation reinforces their position not only as one of the NBA’s flagship franchises but also as a global cultural brand synonymous with excellence, star power, and success.
SportsLigue