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2w ago

Mark Walter to Acquire Majority Stake in Lakers for $10 Billion; Jeanie Buss to Remain Governor

Pending NBA approval, the $10 billion transaction will end the Buss family's 46-year tenure with Jeanie Buss remaining at the helm of daily operations.

eanie Buss attends a basketball game between the Los Angeles Lakers and the Phoenix Suns at Crypto.com Arena on October 26, 2023 in Los Angeles, California.
Mar 17, 2025; Los Angeles, California, USA; The Los Angeles Lakers logo at midcourt at Crypto.com Arena. Mandatory Credit: Kirby Lee-Imagn Images
Feb 10, 2025; Los Angeles, California, USA; Owner and president of the Los Angeles Lakers Jeanie Buss attends the game against the Utah Jazz at Crypto.com Arena. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images/File Photo
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Overview

  • Mark Walter, CEO of TWG Global and minority Lakers owner since 2021, agreed to acquire the majority stake at a valuation of $10 billion, the largest sale in North American sports history.
  • Jeanie Buss will continue as governor, overseeing day-to-day team operations for the foreseeable future under the new ownership.
  • The sale is expected to close in the third or fourth quarter of 2025 after securing standard approvals from the NBA board of governors.
  • Walter’s diversified sports portfolio will now include the Dodgers, Sparks, Chelsea FC, and other international assets alongside the Lakers.
  • League insiders say many within the Lakers organization were surprised by how rapidly negotiations progressed once the Buss family decided to sell.