In a groundbreaking move that will undoubtedly reshape the sports landscape, the majority stake of the Los Angeles Lakers basketball franchise is set to be sold in what is poised to be the most expensive sports team sale in US history. According to sources familiar with the deal, the sale is valued at an eye-popping $10 billion (£7.45bn), surpassing previous records and marking a significant moment in the world of professional sports.
For more than four decades, the Buss family has owned the Lakers, one of the most iconic and successful basketball franchises globally. Since 1979, the family has built a legacy of championships, star players, and unforgettable moments. But now, after decades of ownership, they have reached an agreement with Mark Walter, the CEO of TWG Global, to sell the majority of the team. Walter, a seasoned sports investor and businessman, is no stranger to high-stakes acquisitions. He already holds a controlling stake in the Los Angeles Dodgers, the professional baseball team that captured the 2023 World Series, and has investments in other global sports teams, including Chelsea Football Club and the Cadillac Formula 1 Team.
The decision to sell a majority stake in the Lakers comes after years of remarkable success, both on and off the court. Under the Buss family’s ownership, the Lakers have become synonymous with basketball excellence, clinching more NBA championships than any other team. With the likes of Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, and LeBron James gracing their roster, the Lakers have maintained a reputation as one of the most storied franchises in professional sports history. However, as the NBA continues to evolve, and with an increasingly global and lucrative sports market, the Buss family has made the decision to pass the torch to Walter, a businessman who has already shown a proven track record of success in sports ownership.
This momentous deal comes after several record-breaking sales of other major US sports franchises. In March 2025, the Boston Celtics were sold to billionaire Bill Chisholm for $6.1 billion, which at the time was the highest price ever paid for a US sports team. Prior to that, the Washington Commanders, an NFL team, were sold for $6.05 billion. The sale of the Lakers, however, will dwarf these previous transactions by a significant margin, marking a new benchmark for the value of sports franchises in the United States. With a valuation of at least $10 billion, this sale is set to become the most expensive in sports history, and the ripple effects are already being felt throughout the industry.
The Lakers, currently led by basketball superstar LeBron James, have continued to be a dominant force in the NBA despite facing challenges in recent seasons. Although they made it to the playoffs in the last three seasons, they were eliminated early in each run, leaving fans hungry for another championship. The team, however, remains one of the most popular and marketable brands in sports globally. With a rich history of success, star power, and a dedicated fanbase, the Lakers’ potential for growth under new ownership is immense.
For the Buss family, the sale of the team marks the end of an era. Jerry Buss, the patriarch of the family, purchased the Lakers in 1979 for just $67.5 million, a far cry from the staggering price that the team is now set to fetch. Under his leadership, the Lakers won numerous championships and established themselves as a dynasty in the NBA. After Jerry Buss passed away in 2013, ownership of the team passed to his six children, with his daughter Jeanie Buss serving as the Lakers’ governor. Despite the changes in ownership, the Buss family has remained integral to the Lakers’ identity, and Jeanie Buss, in particular, has become synonymous with the team.
Jeanie Buss, who has served as the Lakers’ governor since her father’s passing, is expected to retain her position under the new ownership arrangement with Walter. According to reports, the trust that holds the Buss family’s stake in the Lakers required the majority of the six children to agree on any sale of the team, and Jeanie’s approval of the deal signals a transition to new leadership while preserving the family’s legacy with the franchise. While many questions remain about the specifics of the sale, one thing is clear: Walter’s ownership will bring fresh energy and new possibilities for the team as it moves into a new era.
The news of the sale has been met with mixed reactions from the Lakers’ fanbase, with many expressing excitement about the potential for renewed success under new ownership. Lakers legend Magic Johnson, who was previously a part-owner of the team, offered his congratulations to Jeanie Buss and the family, expressing confidence in Mark Walter’s ability to carry on the Lakers’ legacy. Johnson, who played a key role in the team’s rise to prominence in the 1980s, praised Walter for his leadership in turning around the Los Angeles Dodgers and believed that he would bring the same commitment to success to the Lakers.
“I just talked to my sister Jeanie Buss to tell her congratulations, and that I’m so happy for her and family,” Magic Johnson wrote on social media. “She’s witnessed him build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans! Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community!”
Johnson’s endorsement of Walter is significant, given his stature within the Lakers’ organization and his close relationship with the Buss family. As a former player and executive, Johnson’s support carries weight, and his praise of Walter suggests that the transition of ownership will be smooth and focused on continuing the Lakers’ tradition of excellence.
While the sale of the Lakers represents a new chapter in the team’s history, it also signals a larger shift in the sports landscape. As the value of sports franchises continues to rise, the ownership of such teams is becoming an increasingly important and strategic endeavor. Walter’s investments in the Dodgers, Chelsea Football Club, and the Cadillac Formula 1 Team underscore his commitment to global sports and his ability to navigate the intricacies of high-profile team ownership. The sale of the Lakers will likely be viewed as a model for future sports transactions, as teams around the world continue to seek new owners who can balance financial success with a deep commitment to the sport.
For now, the Lakers’ legacy remains firmly intact, and their place as one of the most iconic franchises in sports history is secure. As fans eagerly await the team’s future under new ownership, they can rest assured that the Lakers will continue to be a cornerstone of Los Angeles sports culture and a symbol of basketball excellence for years to come.
In conclusion, the sale of the majority stake in the Los Angeles Lakers represents a historic moment in sports history. Mark Walter’s acquisition of the team will usher in a new era of ownership while maintaining the franchise’s commitment to success and its deep ties to the Los Angeles community. With the potential for growth, renewed success, and a continued legacy of excellence, the Lakers remain poised to be a dominant force in the NBA for years to come. As the team moves forward under Walter’s leadership, the future looks bright for both the Lakers and their passionate fanbase.
