The majority ownership of the Los Angeles Lakers is being sold in a groundbreaking transaction that is set to become the most expensive sale of a U.S. sports franchise in history, according to a source familiar with the matter.
The Buss family, which has owned the iconic NBA team since 1979, has reportedly agreed to sell its majority stake to Mark Walter, CEO of TWG Global, the source confirmed. Walter already owns a 20% stake in the Lakers, acquired in 2021, and is now moving to acquire additional shares to gain control of the team.
The deal is estimated to be worth around $10 billion (£7.45 billion), a valuation that could rise once the transaction is finalized. This sale will surpass the previous record of $6.1 billion set by the Boston Celtics’ sale to Bill Chisholm in March 2025, which itself had broken the 2023 record of the Washington Commanders football team’s $6.05 billion sale.
A spokesperson for Walter’s company confirmed the news, stating, “Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, of which he has been a stakeholder since 2021.”
Walter is a prominent figure in global sports investment. He holds a controlling stake in Major League Baseball’s Los Angeles Dodgers, the 2024 World Series champions. He also has investments in Chelsea Football Club and the Cadillac Formula 1 Team, which is scheduled to debut in 2026.
The Lakers, one of the most celebrated sports franchises worldwide, have won more NBA championships than any other team since 1979. Under the Buss family’s stewardship, they have appeared in the NBA Finals 17 times and secured 11 championship titles. The team, currently led by superstar LeBron James, has made the playoffs for the last three consecutive seasons but was eliminated each time.
Jerry Buss, the family’s patriarch, originally purchased the Lakers in 1979 for $67.5 million in a deal that also included the Los Angeles Kings hockey team and the Los Angeles arena now known as the Kia Forum. Upon his death in 2013, control of the Lakers passed to his six children through a family trust, which owns 66% of the franchise. Under the terms of the trust, a majority of the Buss siblings must agree to any sale.
Jeanie Buss has served as the Lakers’ governor since 2013 and, according to reports, will retain her position even after the sale is completed. Her continued involvement in the team’s governance was a condition of the deal with Walter.
Lakers legend Magic Johnson reacted to the news with enthusiasm, expressing his support for the Buss family and Mark Walter on social media platform X.
“I just talked to my sister Jeanie Buss to tell her congratulations, and that I’m so happy for her and the family,” Johnson wrote. “She’s witnessed [Walter] build a winning team with the Dodgers and knows that Mark will do right by the Lakers team, organization, and fans! Both are extremely intelligent, visionaries, great leaders, and have positively impacted the greater Los Angeles community!”
The Los Angeles Times reported that the sale process was conducted in accordance with the Buss family trust’s stipulations, requiring majority consent among the six siblings.
As the formalities of the deal unfold, the sale stands to redefine the landscape of U.S. professional sports ownership, with the Lakers setting a new benchmark for franchise valuations.
