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A New Era for the Los Angeles Lakers: The Historic Ownership Transition from the Buss Family to Mark Walter
The Los Angeles Lakers, one of the most storied franchises in professional sports, have entered a new chapter in their illustrious history. On June 18, 2025, reports surfaced that the Buss family, who have controlled the Lakers since 1979, agreed to sell a majority ownership stake to Mark Walter, the CEO and chairman of TWG Global and controlling owner of the Los Angeles Dodgers. The deal, valued at approximately $10 billion, marks the largest sale of a professional sports franchise in history, surpassing the recent $6.1 billion sale of the Boston Celtics. This monumental transition signals the end of an era for the Buss family’s stewardship and raises questions about the future direction of one of the NBA’s most iconic teams.
The Buss Family Legacy: Building a Dynasty
The Lakers’ story under the Buss family began in 1979 when Dr. Jerry Buss, a visionary entrepreneur, purchased the franchise, along with the Los Angeles Kings and The Forum, for $67.5 million from Jack Kent Cooke. Under Jerry Buss’s leadership, the Lakers transformed into a global brand, synonymous with glamour, success, and “Showtime” basketball. His innovative approach—combining on-court excellence with off-court entertainment—elevated the Lakers to new heights. The franchise won 10 NBA championships under his watch, driven by legendary players like Magic Johnson, Kareem Abdul-Jabbar, James Worthy, Kobe Bryant, and Shaquille O’Neal.
Jerry Buss’s philosophy extended beyond basketball. He introduced the Laker Girls, prioritized celebrity-filled courtside seats, and cultivated a Hollywood aura that made Lakers games a cultural event. His business acumen and commitment to winning turned the Lakers into one of the most valuable franchises in sports. Following his passing in 2013, ownership passed to his six children, with Jeanie Buss emerging as the team’s governor and president. Jeanie has been the face of Lakers ownership since, navigating the franchise through triumphs, such as the 2020 NBA championship, and challenges, including inconsistent performance in recent years.
However, the Buss family’s reliance on the Lakers as their primary revenue source reportedly limited their ability to invest in the infrastructure and resources needed to keep pace with the NBA’s evolving financial landscape. Criticism from some fans and analysts pointed to mismanagement and underfunding as factors in the team’s struggles to maintain consistent success post-2020. This context set the stage for the historic decision to sell the majority stake.
The Sale: A Record-Breaking Deal
The agreement to sell the majority ownership to Mark Walter, first reported by ESPN’s Shams Charania, represents a seismic shift in the NBA. The $10 billion valuation dwarfs recent franchise sales, including the Boston Celtics ($6.1 billion), Phoenix Suns, and Dallas Mavericks. The deal, which requires NBA approval, underscores the skyrocketing value of premier sports franchises, particularly one with the Lakers’ global reach and 17 NBA championships, second only to the Celtics in league history.
Mark Walter, already a minority stakeholder in the Lakers since 2021 when he and Todd Boehly purchased a 27% stake for $1.35 billion, secured a right of first refusal on the majority share at that time. This strategic move positioned him as the natural successor when the Buss family decided to sell their 66% controlling stake. The specifics of the deal, including the exact percentage of ownership transferred, remain undisclosed, but the $10 billion figure reflects the Lakers’ status as a cultural and financial juggernaut.
Jeanie Buss will remain the Lakers’ governor, retaining a significant role in the franchise’s operations and decision-making. This arrangement ensures a degree of continuity while ushering in Walter’s deep financial resources and proven track record in sports management.
Who Is Mark Walter?
Mark Walter, the CEO of TWG Global (formerly Guggenheim Partners), is no stranger to high-profile sports ownership. As the controlling owner of the Los Angeles Dodgers since 2012, Walter has overseen a transformation of the MLB franchise into a perennial World Series contender. His willingness to invest heavily in talent, infrastructure, and innovation has made the Dodgers a model of success, with a World Series title in 2020 and consistent playoff appearances.
Walter’s sports portfolio extends beyond the Dodgers. He holds ownership stakes in the WNBA’s Los Angeles Sparks, the Billie Jean King Cup, the Andretti Cadillac Formula 1 team, and the Professional Women’s Hockey League (PWHL). His approach emphasizes financial flexibility, strategic vision, and community engagement, qualities that could reshape the Lakers’ trajectory. NBA analysts, including Newsweek’s Noah Camras and CBS Sports’ Sam Quinn, have noted that Walter’s deep pockets address a critical need for the Lakers, particularly as they navigate the competitive Western Conference and the final years of LeBron James’s career alongside the rise of Luka Dončić, recently acquired in a blockbuster trade.
Implications for the Lakers’ Future
The ownership transition comes at a pivotal moment for the Lakers. The 2024-25 season, under new head coach JJ Redick, has seen mixed results, with a short-lived playoff run and ongoing challenges in building a roster capable of contending for a championship. The acquisition of Luka Dončić signals an aggressive push to remain competitive, but the team’s financial constraints under the Buss family reportedly hindered their ability to fully capitalize on such moves.
Walter’s ownership is expected to bring significant changes. His track record with the Dodgers suggests a willingness to spend on elite talent, modernize operations, and enhance fan engagement. Posts on X reflect optimism among some fans and analysts, with users like @jnavla noting that Walter’s leadership could bring the Lakers “current” and mirror the Dodgers’ success. Others, such as @AnthonyIrwinLA, emphasized that the sale has been in the works for years, positioning the Lakers to benefit from Walter’s financial resources and strategic expertise.
However, questions remain. Will Walter’s focus on innovation and community engagement translate to basketball? How will Jeanie Buss’s role as governor interact with Walter’s majority ownership? The Lakers’ global fanbase, accustomed to the Buss family’s personal touch, may need time to adjust to this new era. Additionally, the $10 billion valuation raises expectations for immediate impact, as the Lakers aim to reclaim their status as a dominant force in the NBA.
The Broader NBA Landscape
The Lakers’ sale is part of a broader trend of escalating franchise valuations in the NBA. Recent sales of the Boston Celtics, Phoenix Suns, and Dallas Mavericks reflect the growing financial stakes in professional sports, driven by media rights, global markets, and the allure of owning iconic brands. The Lakers’ $10 billion deal sets a new benchmark, potentially influencing future transactions and highlighting the financial might required to compete in today’s NBA.
This transition also underscores the changing dynamics of sports ownership. Unlike the Buss family, whose wealth was tied primarily to the Lakers, Walter’s diversified portfolio and TWG Global’s resources offer a level of financial flexibility that could reshape the franchise’s approach to roster construction, analytics, and fan experience.
A Bittersweet Milestone
For Lakers fans, the sale is a bittersweet moment. The Buss family’s 46-year stewardship shaped the franchise’s identity, delivering 11 championships and countless memories. Jerry Buss’s legacy as a trailblazer and Jeanie Buss’s resilience as a female executive in a male-dominated industry remain defining chapters in the Lakers’ story. Yet, the challenges of recent years—marked by inconsistent performance and fan frustration—suggested that change was necessary.
Mark Walter’s acquisition offers a fresh start, backed by unparalleled financial resources and a proven track record. As the Lakers prepare for the 2025-26 season, the sports world will be watching to see if Walter can replicate his Dodgers success and restore the Lakers to their championship pedigree. For now, this historic $10 billion deal marks the end of one era and the beginning of another, with the promise of a revitalized franchise ready to write its next chapter.