Lakers Sold to Mark Walter for Record $10 Billion
LOS ANGELES, CA – In a landmark deal reshaping the landscape of professional sports, the Los Angeles Lakers have been sold to billionaire Mark Walter for a record-breaking $10 billion. the transaction, finalized today, ends 46 years of ownership by the Buss family and establishes a new high-water mark for sports franchise valuations.
walter, CEO of TWG Global, was already a minority shareholder in the Lakers since 2021, granting him right of first refusal in any sale. His existing ownership stake, coupled with his accomplished track record as principal owner of the Los Angeles Dodgers (MLB), reportedly fostered trust with the Buss family during negotiations.
The $10 billion price tag substantially surpasses previous sports team sales,nearly doubling the value of the Boston Celtics’ recent sale. While the Buss family will retain a minority stake of approximately 15%, Jeanie Buss will remain governor and president of the Lakers, overseeing basketball operations “for at least several years.”
Jeanie Buss, daughter of the late Jerry Buss who led the team as 2013, will continue to direct the franchise’s day-to-day operations and maintain its established culture. Walter’s role will focus on providing capital and long-term strategic vision.
“He’s the best option and will be the best guardian of the Lakers brand,” said Lakers legend Magic johnson, a partner in Walter’s sports consortium.”He will put all the necessary resources to win.”
The Los Angeles Lakers organization acknowledged the news with a post on X (formerly Twitter) stating, “Let the work talk.”
