The Los Angeles Lakers, one of the most iconic franchises in global sports, are finalizing a record-breaking sale of their majority stake to billionaire financier and TWG Global CEO Mark Walter, a source familiar with the deal confirmed today.
The transaction, estimated at $10 billion (£7.45bn), would mark the most expensive sale of a U.S. sports team in history—surpassing the recent $6.1 billion acquisition of the Boston Celtics and the $6.05 billion sale of the Washington Commanders. The final price could still increase before the deal is completed.
A New Era for the Lakers
The Buss family, which has owned the Lakers since 1979, has agreed to sell their controlling interest to Walter, who already owns a 20% stake in the team. Under the terms of the sale, Jeanie Buss—who has served as the Lakers’ governor since her father Jerry Buss’s passing in 2013—will retain her leadership role while Walter assumes majority control.
A spokesperson for Walter’s company confirmed the deal, stating: “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.”
Walter’s Winning Sports Portfolio
Walter, who also holds a controlling stake in the World Series-winning Los Angeles Dodgers, has built a reputation as a savvy sports investor. His portfolio includes stakes in Chelsea Football Club and the upcoming Cadillac Formula 1 Team, set to debut in 2026.
Lakers legend Magic Johnson, a former part-owner, praised the move on social media, saying: “I just talked to my sister Jeanie Buss to tell her congratulations… She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers!”
The Buss Legacy
Jerry Buss originally purchased the Lakers, the L.A. Kings, and The Forum arena for $67.5 million in 1979. Under his family’s ownership, the franchise became a global powerhouse, winning 11 championships and making 17 NBA Finals appearances.
The sale required approval from a majority of Jerry Buss’s six children, who collectively held a 66% stake in the team.
What’s Next for the Lakers?
The deal, pending NBA Board of Governors approval, comes as the Lakers—led by superstar LeBron James—seek to return to championship contention after early playoff exits in recent years. Fans and analysts will be watching closely to see how Walter’s leadership influences the team’s future.
With this landmark sale, the Lakers enter a new chapter—one that could redefine the financial landscape of professional sports.
