The Buss family has agreed to sell its majority stake in the Los Angeles Lakers to billionaire investor Mark Walter at a record-shattering US$10 billion valuation, marking the most expensive sale of a professional sports franchise in history.
Walter, already a 27% minority stakeholder since 2021, exercised his right of first refusal to acquire a controlling interest in the NBA’s second-most decorated team.
Jeanie Buss, who has served as team governor since 2013, will remain in that role for the foreseeable future, preserving her family’s influence during a transitional period.
The Buss family will reportedly retain a 15% minority stake, a structure similar to the Boston Celtics’ recent $6.1 billion sale.
Walter, CEO of TWG Global and controlling owner of the Los Angeles Dodgers, also holds stakes in Chelsea FC, the WNBA’s Sparks, and the Cadillac Formula 1 team.
His acquisition of the Lakers consolidates his influence across major U.S. and global sports properties, and positions the franchise for deeper capital investment amid rising valuations and media rights shifts.
The Lakers, purchased by Jerry Buss in 1979 for $67.5 million, were most recently valued at $7.1 billion by Forbes.
The $10 billion deal reflects not only the team’s 18 NBA titles and global brand power, but also the premium investors are willing to pay for legacy franchises with global reach.
The sale is expected to close pending league approval.
