Mark Walters to purchase Lakers for $10 billion: Who is the billionaire new owner of NBA's most expensive franchise?
The Los Angeles Lakers are set for a historic ownership change after Jeanie Buss agreed to sell a majority stake in the storied NBA franchise to Los Angeles Dodgers owner Mark Walter, in a record-breaking deal that values the team at $10 billion.
The transaction marks the largest sale in American sports history, surpassing the Boston Celtics' $6.1 billion agreement earlier this year.
The agreement was first reported by ESPN and later confirmed by multiple sources familiar with the matter.
Jeanie Buss, 63, assumed control of the Lakers after the death of her father, Jerry Buss, in 2013.
Jerry Buss bought the team in 1979 for $67.5 million, and under his ownership, the Lakers became one of the most successful and marketable teams in professional sports, winning 10 championships during his tenure.
During Jeanie Buss's time at the helm, the franchise signed four-time MVP LeBron James in 2018 and captured its most recent championship in 2020.
Despite the sale, she is expected to remain as the team's governor.
Walter, 65, is the chief executive of Guggenheim Partners, a global investment firm, and founder of TWG Global.
He is a well-known figure in sports investment circles, having purchased the Dodgers in 2012 for a then-record $2.15 billion. Under his ownership, the Dodgers have reached the postseason for 12 consecutive years, winning World Series titles in 2020 and 2024.
Walter also holds stakes in Chelsea FC, the Los Angeles Sparks, and the Cadillac Formula 1 team. His involvement with the Lakers began in 2021 when he acquired a 27% minority stake from billionaire Philip Anschutz, which included a right of first refusal in the event of a sale.
The deal comes amid a major transition for the Lakers, who traded for Luka Doncic earlier this year and led the NBA in merchandise sales for the 2024–25 season. Forbes recently ranked the Lakers third among NBA franchise valuations, behind the Golden State Warriors and New York Knicks.
NBA legend Magic Johnson, who played a pivotal role in both the Lakers' history and the Dodgers' ownership group, expressed support for the deal on social media:
'I told [Jeanie] that her dad Dr Buss would be very proud of her for getting $10 billion for the Lakers… I can understand why she sold the team to Mark Walter because they are just alike — competitive, generous, and low-profile.'
I just talked to my sister Jeanie Buss to tell her congratulations, and that I'm so happy for her and family. I told her that her dad Dr. Buss would be very proud of her for getting $10B for the Lakers, the largest sports franchise sale in history! — Earvin Magic Johnson (@MagicJohnson) June 18, 2025
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