Buss family sell Laker majority ownership stake to Mark Walters
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The NBA’s most glamorous franchise is entering a massive new chapter. ESPN’s Shams Charania reported that Jeanie Buss and the Buss family sold majority ownership of the Los Angeles Lakers to Los Angeles Dodgers owner Mark Walter for $10 billion—the highest sale price ever for a U.S. professional sports franchise.
The Buss family will retain a 15% minority stake for now, and Jeanie will remain the team’s governor. With that clarity, the real question becomes: what does this move mean for the Lakers’ future? And more importantly, who is Mark Walter?
Who is Mark Walters?
(Photo by Kevin Winter/Getty Images)
To start, Walter is the CEO of Guggenheim Partners and TWG Global, a multinational sports and entertainment group. TWG oversees several notable franchises, including
- Los Angeles Dodgers
- Los Angeles Sparks
- Cadillac Formula 1 team
- Professional Women’s Hockey League
- Billie Jean King Cup
Furthermore, Walter has an estimated net worth of $6.1 billion, per Forbes. Since becoming the Dodgers’ primary stakeholder in 2012, he has helped build a consistent contender. Guggenheim manages over $300 billion in assets and invests in major brands such as Beyond Meat and Carvana.
Additionally, Walter and Todd Boehly bought a 27% minority stake in the Lakers in 2021. That purchase included a right of first refusal, which ultimately positioned Walter to acquire the majority stake once the Buss family decided to sell.
A Historun Run for Buss Family
Few ownership groups in sports match the Buss family’s legacy. The iconic Dr. Jerry Buss purchased the Lakers in 1979 for $67.5 million—a deal that included the Kings and The Forum. After his passing in 2013, Jeanie Buss assumed the role of governor.
Across 46 years, the Lakers thrived:
2,881 wins—2nd most in the NBA since 1980
11 NBA championships since 1980
Most titles in that span
As reaction poured in, Lakers legend Magic Johnson praised Walter’s arrival:
“Mark Walter is the best choice and will be the best caretaker of the Laker brand,” Johnson posted on X. “The proof is in the pudding on what he’s been able to accomplish with the LA Dodgers. Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!”
“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!” Johnson said. “I can understand why Jeanie sold the team to Mark Walter because they are just alike — they are competitive people, have big hearts, love to give back, and both prefer to be behind the scenes. This makes all the sense in the world.”
From Magic and Kareem to Kobe and Shaq to LeBron and Luka Dončić, the Buss era showcased generational icons like no other franchise.
A League-Wide Shift
Meanwhile, this move contributes to a notable NBA trend among powerhouse franchises:
| Team | Year Sold | Sale Price |
|---|---|---|
| Mavericks | 2023 | $3.5B |
| Celtics | 2025 | $6.1B |
| Lakers | 2025 | $10B |
Mark Cuban sold the Mavericks in 2023 for $3.5 billion. Wyc Grousbeck sold the Celtics for $6.1 billion in March as the defending champions. However, this shift now reflects the league’s new second apron rules, which introduce stricter spending penalties and may encourage longtime owners to cash out.
Ultimately, the Lakers continue to be driven by star players and maintain their Hollywood identity. Yet their financial leadership and organizational philosophy may undergo significant changes under Walter.
Therefore, fans will watch closely to see whether this transition accelerates their return to championship contention.
One thing remains undeniable:
A new era has officially begun in Los Angeles.
