In a league full of billionaire owners, the Lakers are finally joining the club.
ESPN’s Shams Charania reported today that “The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO and chairman of diversified holding company TWG Global.” Walter, he notes, has been a majority owner in the team for years and also owns stakes in the Dodgers, the Sparks and many more sports entities. The Athletic also confirmed the news.
Walter has been a minority stakeholder in the Lakers since 2021 and has interests in multiple professional sports organizations, including the LA Dodgers, WNBA's Los Angeles Sparks, the Billie Jean Cup, Cadillac Formula 1 team and the Professional Women's Hockey League. https://t.co/mgZkxcdXnp
— Shams Charania (@ShamsCharania) June 18, 2025
Charania reports the deal values the franchise at $10 billion. Previously, the largest team sale in North American sports history is the Celtics’ $6.1 billion sale in March. Besting the archival Celtics will doubtless bring Lakers fans joy.
The Buss Family has owned the franchise since 1979, when patriarch Jerry Buss bought the team (and the Kings and the Forum) for $67.5 million. Prior to this deal, the Buss family trust owned 66% of the team. Jeanie Buss will remain the team’s governor.
Watch on Deadline
The Lakers have long been seen as one of the most valuable franchises in American sports, second only to the Dallas Cowboys in many estimates. While arguably the premiere franchise in the NBA, the Lakers have in the past few years have had a comparatively middle-class ownership dependent in large part on its TV deal with Spectrum Sports. The Buss Family’s biggest investment is the team itself, whereas many other owners, such as the Clippers Steve Ballmer, made billions elsewhere that they could them pour into the team. Now, the Lakers can do the same.
Recently, the team has worked very hard to live within its means, due in part to the league’s more restrictive salary cap. Now, they at least have a war chest to match their rivals’.
The Lakers ties to Hollywood are legion, from Jack Nicholson on the sidelines to Jerry Buss courting stars with the Forum club. They may be the only NBA franchise with an Oscar winner — Kobe Bryant — among their former players. Indeed, their current leader is actually in showbiz, with LeBron James producing movies and TV shows. The team itself has also been the subject of many film and TV projects.
There were HBO’s much-lauded Winning Time in 2022 and Netflix’s more recent Running Point, which is based in part on Jeanie Buss’ leadership of the team.
MORE…