Ushering in a new era for the Los Angeles Lakers, Jennie Buss and her family are reportedly onboard the plan to sell a majority stake of the NBA team. The shifting ownership hierarchy would put Guggenheim Partners CEO Mark Walter in charge. He already owns Major League Baseball’s Los Angeles Dodgers.
The deal has been finalised for approximately $10 billion, which makes this not only the richest NBA valuation, but also the highest ever for a US professional sports franchise, as per ESPN. In the process, the LA Lakers are on their way to becoming the world’s most valuable sports lineup.
Los Angeles Lakers legend endorses $10 billion move
Given that this would essentially change everything for the NBA team, Lakers legend Magic Johnson, who is also a longtime pal of Jeanie Buss, jumped in to reflect on the bombshell revelation. “Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the @Lakers legacy and tradition on winning – Mark Walter, my business partner and friend!” he wrote on X.
I know that my sister Jeanie would have only considered selling the Lakers organization to someone she knows and trusts would carry on the Buss legacy, started by her father Dr. Buss. Now she can comfortably pass the baton to Mark Walter, with whom she has a real friendship and…
— Earvin Magic Johnson (@MagicJohnson) June 18, 2025
“Mark Walter is the best choice and will be the best caretaker of the Laker brand. The proof is in the pudding on what’s been able to accomplish with the LA Dodgers.” He went on, “Mark has been nothing short of a winner notching 2 World Series and 11 NL West divisional titles in the last 12 years!”
Jeanie Buss is still very much in charge
Despite the behind-the-scenes reshuffling, Walter is not necessarily a stranger to the Lakers brand as he has been a minority stakeholder since 2021. Meanwhile, the Buss family are also expected to still be in the picture as they’re keeping a minority share, just over 15% for the time being, a source told the leading sports outlet.
Jeanie Buss, on the other hand, will stay on as the team’s governor. She will reportedly be running the LA Lakers for “at least a number of years.” Sources affirmed that this has always been a part of the plan, with even Walter pushing for it.
I just talked to my sister Jeanie Buss to tell her congratulations, and that I’m so happy for her and family. I told her that her dad Dr. Buss would be very proud of her for getting $10B for the Lakers, the largest sports franchise sale in history!
— Earvin Magic Johnson (@MagicJohnson) June 18, 2025
LeBron James’ retirement closer than ever, but still no official word
Lakers superstar LeBron James is inching closer to his retirement at an unmatched pace. And yet, an official announcement is still awaited to seal the deal. As for how he feels about the $10 billion deal, The Athletic‘s well-respected NBA reporter Joe Vardon said the basketball icon was comfortable with the sale.
The 40-year-old athlete has repeatedly dropped ambiguous hints addressing his retirement. Just days ago, he shared a cryptic post featuring a video of a staged press conference where reporters pop the big question: “Are the retirement rumours true? What’s next?” James vaguely answers in the caption: “I’ve been asking myself the same question…” It is believed to be a commercial for the July 8-11 Prime Day dates as part of the “Greatness is a Deal Away” campaign.
What’s next!? Prime Day 😎👑🔥 July 8-11 @amazon #ad pic.twitter.com/HeEadg5QD9
— LeBron James (@KingJames) June 17, 2025
Earlier this week, NBA.com reported that the Olympian was making a LA Lakers comeback for his 23rd NBA season, making him the first player in the league’s history to hit that milestone. In the meantime, he is also recovering from a knee injury, which he sustained in the final game of the team’s playoff streak.
“I have a lot of time to take care of my injury, my knee, the rest of my body and make sure I’m as close to 100% as possible when training camp begins in late September,” he told the Associated Press. He recently also weighed in on how “insane” it would be if he were still in the game when his youngest son, Bryce James, gets drafted. Does this mean that the 2025-26 season will be his last on the NBA court?
Only time will tell if LeBron ends playing with both his sons, Bronny and Bryce. More than that, he is likely to go out with a bang, as a farewell tour awaits, much like the legends before him – Kobe Bryant, Michael Jordan and Dwyane Wade. Ahead of the end of an era, he is now entering the final year of his contract.