The Los Angeles Lakers are one of the premier franchises in all of sports.
They are consistently one of the top-performing franchises, as evidenced by their 17 titles. They remain one of the league’s top teams, led by LeBron James and the (somewhat) newly acquired Luka Dončić.
They have been owned by the Buss family since 1979. Jerry Buss purchased the franchise from Jack Kent Cooke for just $67.5 million in a transaction that also included the Los Angeles Kings and the Los Angeles Forum. When Buss passed away in 2013, ownership went to his children, with his daughter, Jeanie Buss, serving as the Lakers’ governor.
For the first time since the day Buss bought the team, they will have a new majority ownership up top.
Mark Walter-Buss Family Agrees to Majority Ownership Sale of Los Angeles Lakers
According to Shams Charania of ESPN, the Buss family is selling the franchise to Mark Walter, CEO and chairman of TWG Global.
“ The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global, sources tell ESPN,” reported Charania. “ Jeanie Buss will continue to serve in her role as Governor after the sale.”
Walter has been a minority stakeholder in the Lakers since 2021 and has interests in multiple professional sports organizations, including the LA Dodgers, WNBA’s Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula 1 team and the Professional Women’s Hockey League. https://t.co/mgZkxcdXnp
— Shams Charania (@ShamsCharania) June 18, 2025
Walter has been involved with the Lakers over the last few seasons and is very familiar with the sports world, specifically in Los Angeles.
Walter made his fortune through investments as CEO of Guggenheim Partners, LLC, worth approximately $6.1 billion, according to Forbes. He has turned his attention to those investments in the sports world.
He is the primary owner and chairman of the Los Angeles Dodgers, primary owner of Andretti Global, operating the Cadillac Formula 1 team, and the WNBA’s Los Angeles Sparks. He also owns 12.7% of BluCo, which controls Chelsea of the English Premier League, among other investments in the sports world.
“Walter has been a minority stakeholder in the Lakers since 2021 and has interests in multiple professional sports organizations, including the LA Dodgers, WNBA’s Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula 1 team and the Professional Women’s Hockey League,” Charania reported.
ESPN’s Ramona Shelburne further explained Walter’s ties to Los Angeles: “Walter earned the first right of refusal if the Buss family ever decided to sell their 66 percent stake when he purchased Phil Anschutz’ 26 percent stake in 2021,” Shelburne reported.
“In other words, this has been positioned to go this way. There are a lot of ties between the Lakers and Dodgers already.”
Walter earned the first right of refusal if the Buss family ever decided to sell their 66 percent stake when he purchased Phil Anschutz’ 26 percent stake in 2021. In other words, this has been positioned to go this way. There are a lot of ties between the Lakers and Dodgers… https://t.co/GlLkBFVkRs
— Ramona Shelburne (@ramonashelburne) June 18, 2025
Walter is paying a historic number for the team.
“Mark Walter is entering agreement to purchase majority ownership of the Lakers from the Buss family for a valuation of approximately $10 billion, the largest sale of a professional sports franchise in the world, sources tell ESPN,” reports Charania.
Obviously, anyone would jump at the chance to own the Lakers (if they could afford it, of course), but the Buss family has been synonymous with the Lakers and the NBA in general, so selling the team at this point came as a surprise to many.
