Historic Shift: Lakers Majority Ownership Sold in $10 Billion Landmark Deal
In a groundbreaking development set to redefine American sports ownership, the Los Angeles Lakers are finalizing a record-shattering sale of their majority stake, valued at an estimated $10 billion. This transaction, if completed as expected, will eclipse all previous sales of U.S. sports franchises, underscoring the immense global prestige and marketability of the Lakers brand.
The iconic NBA franchise has been under the stewardship of the Buss family since 1979, when the late Jerry Buss acquired the team, the Los Angeles Kings hockey club, and the Kia Forum arena for just $67.5 million—a modest sum by today’s standards. Over the decades, the Lakers became synonymous with success, capturing 11 of their 17 NBA championships during the Buss era.
The buyer is Mark Walter, the billionaire CEO of TWG Global and current controlling owner of Major League Baseball's Los Angeles Dodgers, who is poised to increase his stake in the Lakers from 20% to a controlling interest. Walter, already a significant figure in the global sports world, also holds ownership in Chelsea FC and the Cadillac Formula 1 Team.
Walter's acquisition comes just months after the Boston Celtics were sold for $6.1 billion, previously the most expensive deal in U.S. sports history. The Lakers deal, however, surpasses that figure by nearly $4 billion, showcasing the franchise's unparalleled brand equity and loyal fanbase.
Under the sale agreement, Jeanie Buss will reportedly retain her role as the team’s governor. Since the passing of her father, Jerry Buss, in 2013, Jeanie and her siblings—through a family trust—have controlled 66% of the franchise. The decision to sell required consensus among the majority of the six heirs.
NBA legend Magic Johnson, a former Lakers stakeholder, endorsed the deal with enthusiasm, stating that Walter’s track record with the Dodgers bodes well for the Lakers' future. “Mark Walter is a visionary with a winning mentality,” Johnson noted. “He will honor the Lakers legacy and elevate it further.”
The Lakers, led by LeBron James in recent seasons, have remained competitive but have yet to reclaim championship glory. With this monumental ownership transition, fans and analysts alike are eager to see how the team evolves under its new leadership.
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