In a historic shift in NBA ownership, the Buss family has agreed to sell a majority stake in the Los Angeles Lakers to TWG Global CEO Mark Walter, both parties confirmed on Wednesday. The move, while monumental in financial scale and symbolic weight, retains continuity at the top, with Jeanie Buss staying on as governor and continuing to oversee the team’s operations.
Though exact financial details were not disclosed, previous reports suggest the deal values the iconic franchise at an astounding $10 billion. If confirmed, this would mark the largest sale in professional sports history.
Mark Walter, who already holds minority stakes in several high-profile sports franchises—including the MLB’s Los Angeles Dodgers and the WNBA’s Los Angeles Sparks—has been a minority owner of the Lakers since 2021. His deeper involvement signals both a business and emotional investment in the team’s future.
“Since Dr Jerry Buss first purchased the team in 1979, they have truly set the standard for basketball in one era after another, which is why you can find people anywhere in the world wearing Lakers shirts and jerseys,” said Walter. “I admire what he, Jeanie and the Buss family have built, and I know how much this special organisation matters to Southern Californians and to sports fans everywhere.”
Walter also praised Jeanie Buss, expressing confidence in her leadership as the team enters a new era. “I have tremendous respect for Jeanie’s continued commitment to maintaining the Lakers’ long-term vision and elite status, and I’m excited to work with her on the next era,” he added.
Jeanie Buss, who took over the franchise following her father’s passing in 2013, has been a key figure in preserving the Lakers’ legacy. Under her stewardship, the team won its 17th NBA title in 2020 and remains one of the league’s most valuable and visible franchises.
“I have gotten to know Mark very well over time and been delighted to learn how he shares those same values,” Jeanie Buss said, reaffirming the team’s mission to maintain its championship pedigree and global influence.
The deal is expected to close in the third or fourth quarter of 2025, pending NBA approval and standard closing procedures. As the Lakers transition into this next chapter, fans can expect a blend of tradition and new ambition from one of basketball’s most storied franchises.
