Los Angeles Lakers to sell majority ownership in historic deal
LOS ANGELES, June 19, 2025 – In a seismic shift that reverberates across the sports world, the iconic Los Angeles Lakers franchise is set to undergo a historic change in ownership. The Buss family, who have steered the Lakers for 46 years, have agreed to sell a majority stake in the team to billionaire businessman Mark Walter, principal owner of the Los Angeles Dodgers, in a deal reportedly valuing the team at a staggering $10 billion.
This landmark transaction shatters previous records for professional sports team valuations in the United States, underscoring the immense global appeal and financial power of the Lakers brand. The previous record was set earlier this year with the $6.1 billion sale of the Boston Celtics.
For nearly half a century, the Lakers have been synonymous with the Buss family. Dr. Jerry Buss purchased the franchise in 1979 for $67.5 million, transforming it into one of the most successful and recognizable organizations in sports history, boasting 11 NBA championships under his family’s stewardship. Following his passing in 2013, control transitioned to his children, with Jeanie Buss serving as the team’s governor and public face.
While the majority ownership changes hands, Jeanie Buss is expected to retain a minority stake and, crucially, will continue in her role as the Lakers’ governor, ensuring a degree of continuity in the team’s leadership. This arrangement is seen as a way to honor the Buss family’s enduring legacy while ushering in a new era.
Mark Walter, a well-known figure in the Los Angeles sports landscape, brings a proven track record of success. As the controlling owner of the Dodgers since 2012, he has overseen a period of remarkable achievement, including two World Series championships. His burgeoning sports portfolio already includes stakes in the WNBA’s Los Angeles Sparks, the Billie Jean King Cup, the Cadillac Formula 1 team, and the Professional Women’s Hockey League. With this acquisition, Walter now becomes the only individual to control both of Los Angeles’s most storied sports franchises.
Lakers legend Magic Johnson, who has strong ties to both the Lakers and Walter’s Dodgers ownership group, was among the first to react to the news, expressing his excitement. “Laker fans should be ecstatic,” Johnson posted on social media. “A few things I can tell you about Mark – he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!”
The sale is subject to approval by the NBA Board of Governors, a formality expected to be completed in the coming months. As the news settles, the sports world awaits the official transition, eager to see what this new chapter holds for one of basketball’s most celebrated franchises.
