The Buss family is entering an agreement to sell majority ownership of the Los Angeles Lakers to Mark Walter, the CEO of TWG Global and owner of the Los Angeles Dodgers, sources familiar with the deal told NBCLA on Wednesday.
The deal, first reported by ESPN, has a valuation of about $10 billion, a source told NBCLA.
Jeanie Buss, who took over the Lakers after the death of her father Dr. Jerry Buss, will continue to serve as the team’s governor after the sale, an indication that the Buss family’s long history with the storied franchise will continue.
The Buss family has owned the Lakers since 1979.
Magic Johnson, who led the Lakers' "Showtime" era, took to social media and said Laker fans should be "ecstatic" about the new ownership.
"(Mark Walter) is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win!" Johnson said.
Laker fans should be estatic. A few things I can tell you about Mark - he is driven by winning, excellence, and doing everything the right way. AND he will put in the resources needed to win! I can understand why Jeanie sold the team to Mark Walter because they are just alike -…
— Earvin Magic Johnson (@MagicJohnson) June 18, 2025
NBCLA has reached out to the Dodgers organization for comment.
This is a developing story. Check back for updates.