Mark Walter Becomes Majority Owner of Lakers in Record $10 Billion Deal

The Los Angeles Lakers entered a new chapter on Thursday as billionaire investor Mark Walter was unanimously approved by the NBA Board of Governors to become the franchise’s new majority owner. Walter immediately finalized the acquisition from the Buss family, valuing the iconic team at an unprecedented $10 billion — the highest valuation ever for an NBA franchise.

The move represents a monumental shift in one of the league’s most storied organizations. The Buss family, who have owned the Lakers for nearly half a century, will retain a minority share exceeding 15%, ensuring that Jeanie Buss continues to serve as the team’s governor and oversee daily operations “for the foreseeable future.”

Walter, best known as the controlling owner of Major League Baseball’s Los Angeles Dodgers, steps into one of the most visible and powerful ownership roles in global sports. His leadership adds another major brand to a growing portfolio of high-profile sports investments that stretch across continents and leagues.

“The Los Angeles Lakers are one of the most iconic franchises in all of sports,” Walter said in a statement. “It’s a privilege to work alongside Jeanie Buss as we maintain that excellence and set the standard for success in this new era, both on and off the court.”

1. Walter Expands His Sports Empire

The Lakers acquisition further cements Walter’s reputation as one of the most influential figures in global sports ownership. Alongside the Dodgers and WNBA’s Los Angeles Sparks, Walter’s TWG Global investment group holds stakes in a diverse range of teams and properties — including the Billie Jean King Cup, the Cadillac Formula 1 team, the Professional Women’s Hockey League, and Premier League club Chelsea F.C. Walter’s expansion into basketball solidifies Los Angeles as the centerpiece of his sports empire. The combination of the Dodgers, Sparks, and now the Lakers makes him one of the few owners to hold majority control of top-tier franchises across three professional leagues. His acquisition of the Dodgers in 2012 for $2.15 billion was once viewed as extravagant but has since proven visionary. The team’s valuation has soared to between $6.8 billion (Forbes) and $7.7 billion (Sportico), reflecting Walter’s success in turning bold investments into thriving enterprises. Industry observers expect Walter to bring the same long-term, data-driven management philosophy to the Lakers — one focused on financial stability, player development, and sustained championship contention.

2. Jeanie Buss Remains a Guiding Force

While the sale marks the end of the Buss family’s majority control, Jeanie Buss remains the face of the franchise. Buss will continue as governor and head of basketball operations, ensuring continuity within the organization that her late father, Dr. Jerry Buss, built into an NBA dynasty. “Over the past decade, I have come to know Mark well — first as a businessman, then as a friend and now as a colleague,” Buss said. “He has demonstrated time and time again his commitment to bringing championships to Los Angeles, and I am beyond excited about what our future has in store.” Buss’ continued involvement is seen as a stabilizing presence during the transition. Under her leadership, the Lakers returned to championship form in 2020 after a decade-long drought and have maintained a strong cultural and commercial identity. NBA Commissioner Adam Silver praised both parties, acknowledging the Buss family’s “46 years of transformational leadership” while welcoming Walter’s entry into the league. “As Mark assumes his role as majority owner, I have no doubt he will be a committed steward of the team,” Silver said.

3. A Record-Breaking Transaction

The $10 billion price tag obliterates previous records in NBA franchise sales, surpassing the $6.1 billion paid for the Boston Celtics earlier this year by nearly $4 billion. The figure underscores the surging global value of premier sports brands and the Lakers’ enduring status as a cornerstone of basketball culture. Walter’s arrival signals both ambition and continuity — an effort to preserve the Lakers’ championship legacy while modernizing operations for a new generation of fans. Analysts suggest the sale could reshape valuations across the league, potentially redefining the financial landscape for future ownership deals. The Buss family’s 46-year run began when Dr. Jerry Buss purchased the Lakers, the NHL’s Los Angeles Kings, and The Forum from Jack Kent Cooke for $67.5 million in 1979 — a move that transformed Los Angeles into a sports capital. From “Showtime” in the 1980s to LeBron James’ title run in 2020, the Lakers’ legacy now enters a new phase — one built on both tradition and transformation under Walter’s stewardship.