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2h ago

Mark Walter to Buy Majority Stake in Lakers for $10 Billion

Pending NBA approval, the franchise will pass after 46 years from the Buss family to an owner known for investments across multiple professional sports leagues.

Walter, the controlling owner and chairman of the Los Angeles Dodgers, is also the CEO of TWG Global.
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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iew of the Los Angeles Lakers logo on the floor of the UCLA Health Training Center, their training faculity, on May 29, 2018 in Los Angeles, California.

Overview

  • The agreement values the Lakers at $10 billion, setting a new record for a professional sports franchise sale.
  • Jeanie Buss will remain team governor and retain a minority stake following the transfer of majority control.
  • TWG Global CEO Mark Walter, who has held a minority share since 2021, will assume majority ownership.
  • Walter’s financial resources and broad sports portfolio could enable more aggressive roster investments in free agency.
  • The sale concludes the Buss family’s 46-year stewardship that began with Jerry Buss’s 1979 purchase for $67.5 million.