In a historic move that reshapes the NBA ownership landscape, the Buss family has agreed to sell a majority stake in the Los Angeles Lakers to businessman Mark Walter, in a deal valuing the storied franchise at a record $10 billion, according to sources familiar with the terms.
The sale, which does not include the Crypto.com Arena—owned separately by AEG—sets a new benchmark in NBA franchise valuations, surpassing the Boston Celtics’ previous record sale of $6.1 billion in March. The Lakers, ranked third in value at $7 billion by CNBC’s most recent NBA team valuations, now find themselves at the pinnacle of the league’s financial hierarchy.
Walter, CEO and co-founder of Guggenheim Partners, is no stranger to high-profile sports ownership. In addition to the Dodgers, he controls the WNBA’s Sparks, the Professional Women’s Hockey League, and Cadillac’s upcoming Formula 1 team. He has also been a minority stakeholder in the Lakers since 2021.
“Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, which he has been a stakeholder since 2021,” his representative confirmed in a statement to CNBC.
Jeanie Buss, who has overseen the Lakers since inheriting the franchise her family bought for $67.5 million in 1979, will retain a minority interest and continue as the team’s governor. Her enduring presence ensures a thread of continuity amid the historic change.
Lakers legend and Walter’s business partner, Earvin “Magic” Johnson, praised the transition. “Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy and tradition of winning,” Johnson posted on X. “Mark Walter is the best choice and will be the best caretaker of the Laker brand.”
The timing of the sale follows a surge in NBA valuations, buoyed by an eye-watering $77 billion media rights deal spanning 11 years. The Lakers’ popularity, iconic status, and recent acquisition of Luka Doncic to pair with LeBron James further bolstered their appeal. The team ended the 2025 season as the No. 3 seed in the West, with a 50-32 record.
Under the Buss family’s stewardship, the Lakers captured 11 NBA titles—more than any other franchise during that span. With Mark Walter at the helm, the next chapter in the franchise’s legacy begins, carrying sky-high expectations and a rich tradition of success.
