The Los Angeles Lakers organization shocked the sports world on Wednesday when it was announced that majority ownership of the team would be sold to Mark Walter. The Buss Family decided to sell their majority stake, which has been reported at a staggering $10 billion.
Read more: Buss Family Agrees to Sell Majority Ownership of Lakers to Dodgers Owner
The $10 billion is the initial valuation for the purchase, but reports have indicated the number could jump to $12 billion. Either way, current Los Angeles Dodgers owner Mark Walter will assume control of the Lakers.
In a more shocking development, current owner Jeanie Buss is said to remain as governor of the team and will run things, while the family retains a 15 percent minority stake.
Read more:Lakers Sell Valuation Breaks Record in Sports at $10 Billion
With Walter now in charge, there could be some sweeping changes made. That is especially true for the way the Lakers have acquired star talent. The team also shocked the world earlier this season when Dallas Mavericks superstar Luka Doncic was traded to LA.
With Doncic on the team, the idea would be the Lakers would get busy building around him for the foreseeable future. Walter might also have his own ideas on how to get that done. That said, Doncic is excited, and the superstar has now spoken out following the bombshell team sale.
Doncic took to X to post about his excitement for the future, including being able to meet Walter.
"The Lakers are an amazing organization. I'm looking forward to meeting Mark and excited about the future. I am also grateful to Jeanie and the Buss family for welcoming me to LA, and I'm happy that Jeanie will continue to be involved. I look forward to working with both of them to win championships!," the post reads.
Buss might still be involved with the team right now, and it was also reported that Walter was in agreement with the demands that she remain governor. However, changes can still be made.
Either way, the biggest responsibility that the Lakers have is to ensure that Doncic is set up to succeed and bring championships back to the Lakers. LeBron James is in the twilight years of his career, and it is believed he is only going to play for one, maybe two more seasons.
With James on his way out and Walter assuming control of the Lakers, the organization might look much different in the 2025/26 season.
More on Lakers historic sale:
Top 5 Biggest Sports Teams Purchases, Including Lakers Historic $10 Billion
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This story was originally published June 19, 2025 at 6:10 AM.