NBA: Los Angeles Lakers Sold To Mark Walter By Buss Family In Record-Breaking $10 Billion Deal, Says Report

In a landmark moment for American sports, the Buss family who owns the Los Angles Lakers is set to enter an agreement to sell the majority ownership of the team to Mark Walter, CEO and chairman of TWG Global, for a franchise valuation of approximately $10 billion.

According to reports, the Buss family will keep a minority share of the team, just over 15%, for a while. Walter, has been a stakeholder in the Lakers since 2021 The sale marks the most expensive transaction in U.S. sports history.

While final details are still being finalized, the estimated $10 billion valuation of the deal puts it far ahead of the $6.1 billion purchase of the Boston Celtics earlier this year and the $6.05 billion sale of the NFL’s Washington Commanders in 2023.

Jerry Buss purchased the franchise from Jack Kent Cooke in a $67.5 million transaction that also included the Los Angeles Kings and the Forum. Under his leadership and that of his children after his death in 2013, the Lakers won 11 NBA championships and made 17 Finals appearances.

Who is Mark Walter?

Walter is the controlling owner of Major League Baseball’s Los Angeles Dodgers, who won the World Series last year, and also holds stakes in Chelsea FC and the Cadillac Formula 1 team set to debut in 2026.

A spokesperson for TWG Global confirmed that Walter is expanding his involvement with the Lakers He said, “Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021.”

NBA legend and former Lakers co-owner Magic Johnson expressed strong support for the move, calling it a new era filled with promise.

“I just talked to my sister Jeanie Buss to tell her congratulations, and that I'm so happy for her and family,” Johnson posted on X. “Mark [Walter] will do right by the Lakers team, organization, and fans!”

Published on: Thursday, June 19, 2025, 09:47 AM IST