The NBA Board of Governors has unanimously approved the sale of the Los Angeles Lakers’ majority ownership to billionaire investor Mark Walter, marking a historic shift for one of the league’s most storied franchises. The transaction, valued at an unprecedented $10 billion, represents the largest sale in professional sports history and is expected to be finalized in the coming days.
Walter, 65, is no stranger to the Los Angeles sports landscape. He currently serves as the principal owner of MLB’s Los Angeles Dodgers and the WNBA’s Los Angeles Sparks, and had previously held a minority stake in the Lakers. His elevation to majority owner marks a new chapter for a franchise synonymous with both success and star power.
“Mark Walter has a long association with our leagues, having served as a minority owner of the Lakers and as the principal owner of the WNBA’s Sparks for more than a decade,” said NBA Commissioner Adam Silver.
“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.”
The Buss family, which has held a majority stake in the Lakers since 1979, will retain about 15 percent ownership. Jeanie Buss, who has served as the team’s governor since her father Jerry Buss passed away in 2013, will remain in that role for at least the next five years.
Silver praised the Buss family’s decades-long stewardship, saying, “I want to thank and congratulate Jeanie Buss and the Buss family for 46 years of transformational leadership and service. While this transaction transfers the Buss family’s majority interest, I’m thrilled that Jeanie will remain actively involved in guiding the team’s future.”
Walter, expressing his excitement about the acquisition, said, “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. 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, both on and off the court.”
Buss echoed that sentiment, emphasizing continuity and shared ambition: “Over the past decade, I have come to know Mark well — first as a businessman, then as a friend, and now as a colleague. He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and I am beyond excited about what our future has in store.”
Founded in 1947, the Lakers have appeared in 32 NBA Finals and won 17 championships, trailing only the Boston Celtics’ 18. As ownership changes hands, the team now begins a new era — one built on legacy, leadership, and the pursuit of an 18th title.
