Lakers Sold to Mark Walter, Hits $10B Valuation \ TezzBuzz \ Washington DC \ Mary Sidiqi \ Evening Edition \ The Buss family has agreed to sell controlling interest in the Lakers to TWG Global CEO Mark Walter, valuing the franchise at a record $10 billion. Jeanie Buss will remain team governor despite relinquishing control. NBA legend Magic Johnson praised Walter’s leadership and winning track record.
In a groundbreaking move that has stunned the sports business world, the Buss family has agreed to sell their controlling interest in the Los Angeles Lakers to Mark Walter, the CEO of TWG Global and a major player in global sports ownership. The deal values the Lakers at $10 billionsetting a new world record for the sale of a professional sports franchise, far surpassing any previous valuation across the NBA, NFL, or global football markets.
According to a source familiar with the transaction, who spoke to The Associated Press on condition of anonymity, Jeanie Buss will remain the team’s governor, preserving her high-profile executive role despite relinquishing majority control. The announcement marks the end of an era: the Buss family has owned and operated the Lakers for 46 years, shaping one of the most storied legacies in professional basketball.
Walter already held a 27% stake in the Lakers, having joined the ownership group in 2021. This new acquisition gives him operational control over one of the NBA’s most iconic teams, and adds to his expanding empire of sports properties. Walter, through TWG Global, also owns the Los Angeles Dodgers, Premier League club Chelseathe Professional Women’s Hockey Leagueand several auto racing teams under TWG Motorsportsincluding the new Cadillac Formula 1 entry.
Magic Johnson—NBA Hall of Famer, Lakers legend, and longtime business partner of both Jeanie Buss and Mark Walter—endorsed the sale enthusiastically. “Mark Walter is the best choice and will be the best caretaker of the Laker brand,” Johnson said on social media. “A few things I can tell you about Mark — he is driven by winning, excellence, and doing everything the right way.” Johnson cited Walter’s success with the Dodgers, who have claimed two World Series titles and 11 division championships during Walter’s ownership, as proof of his leadership prowess.
Jeanie Buss, the daughter of Lakers patriarch Jerry Buss, took over the team’s operations in 2013 after her father’s death. Though initially shared among her five siblings via a trust, internal disputes led to a contentious battle over leadership. In 2017, Jeanie emerged as the controlling owner after successfully fighting off a challenge from her brothers Jim and Johnny, who had attempted to call a board meeting to remove her shortly after she dismissed Jim from his role as executive VP of basketball operations.
Jerry Buss, who bought the Lakers in 1979 for just $67.5 milliontransformed the franchise into a global sports powerhouse. During his 34-year tenure, the team reached the NBA Finals 16 times and won 10 championships, cementing a legacy of excellence. Under Jeanie’s leadership, the Lakers added another title in 2020 during the pandemic-shortened season, led by LeBron James.
Mark Walter’s acquisition sets a new precedent in the sports economy. The previous record for a franchise sale was the recent $6.1 billion deal for the Boston Celtics, and before that, the Washington Commanders’ $6.05 billion NFL sale. The $10 billion price tag for the Lakers not only shatters those recordsbut it underscores the rising valuations of marquee sports brands amid increasing global demand, media rights revenue, and corporate investments in sports entertainment.
Walter is known for his low-profile demeanor and operates mostly outside the public spotlight. He leads Guggenheim Partners, a financial services powerhouse with over $325 billion in assets under management. His strategic vision has been to build a multi-sport, multinational ownership group focused on excellence, talent development, and long-term brand equity. With the Lakers now under his control, he adds one of basketball’s crown jewels to his diversified sports portfolio.
The timing of the sale is also significant, coming at a moment when the NBA is negotiating its next media rights deal—expected to surpass $75 billion over a 10-year term—and is exploring future expansion into markets like Las Vegas and Seattle. The Lakers, with their historic brand, global fan base, and Los Angeles market power, remain central to the league’s financial and cultural influence.
For Lakers fans, the transition represents both change and continuity. Jeanie Buss staying on as governor ensures some consistency in leadership, while Walter’s reputation for delivering championships and investing in excellence has raised hopes of sustained dominance. The move has been widely endorsed by key stakeholders, including current players and former executives, signaling a smooth ownership transition.
In closing, the sale of the Los Angeles Lakers to Mark Walter not only ends a nearly half-century era of Buss family control, but it also ushers in a new chapter—one defined by massive capital, ambitious vision, and a commitment to winning at the highest level.
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