The Buss family has agreed to sell the controlling stake in the Los Angeles Lakers to Mark Walter—owner of the Dodgers and Chelsea FC—for a franchise valuation of $10 billion, smashing previous U.S. sports sale records and concluding nearly five decades of Buss family control.
At a Glance
- Mark Walter secured a $10 billion deal, the largest-ever valuation for a U.S. professional sports franchise
- Walter, who already owns approximately 27% of the Lakers, also controls the Dodgers, Chelsea FC, and the Los Angeles Sparks
- Jeanie Buss will remain as team governor, ensuring leadership continuity
- Magic Johnson praised Walter’s leadership and winning record across multiple sports franchises
- The $10 billion deal surpasses the NBA’s previous record sale of the Boston Celtics for $6.1 billion in March 2025
Historic Shift Ends Buss Family Era
Jerry Buss bought the Lakers in 1979 for $67.5 million, building one of the most storied franchises in sports history with 10 NBA championships under his ownership. After his passing in 2013, the team remained under family control—marking a remarkable 46-year tenure, the longest in NBA history. With this sale, a new chapter begins, though Jeanie Buss will stay on as team governor, according to AP News.
Walter’s Proven Winning Formula
Mark Walter, CEO of Guggenheim Partners, has built an impressive sports portfolio, leading the Dodgers to two World Series titles and 11 National League West championships. He also co-owns Chelsea FC and the WNBA’s Los Angeles Sparks. Lakers legend Magic Johnson publicly endorsed the sale, stating Walter “is driven by winning, excellence, and doing everything the right way,” as reported by the New York Post.
Watch a report: Buss Family Sells Lakers in $10B Deal.
What’s Next for the Lakers?
The sale positions the Lakers for a future of deep resources and potentially transformative leadership. With NBA franchises now commanding astronomical values, the Lakers—arguably the league’s most global brand—will be under intense scrutiny as Walter balances tradition with innovation. Jeanie Buss’s ongoing role suggests a steady hand during this transition, aiming to preserve the team’s storied legacy even as new ambitions take shape.
Fans across the NBA will be watching closely to see how one of basketball’s greatest dynasties evolves under this record-setting new ownership.
