A new report suggests that the Los Angeles Lakers’ sale agreement this week was not unanimously backed by the Buss family.
On Wednesday night, the Lakers surprised the basketball world when it was revealed that majority control of the organization had been sold to Mark Walter. The CEO of Guggenheim Partners and TGW Holdings, and current boss of the Los Angeles Dodgers, Los Angeles Sparks, and Cadillac’s Formula One team, already controlled a notable stake in the Lakers.
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However, despite already owning part of the franchise, Walter still had to pay a record-shattering $10 billion to be the top decision-maker for LA. It is nearly $4 billion more than what the legendary Boston Celtics sold for last year. Just weeks after winning another NBA title. Considering how much their stakes sold for, it would seem like the current wardens of the Lakers, the Buss Family, would be all for the massive winfall. Well, maybe not.
The Los Angeles Lakers intended $10 billion sale to Mark Walter was approved by the Buss siblings through a majority vote, a source familiar with the situation told ESPN
— Dave McMenamin (@mcten) June 19, 2025
“The Los Angeles Lakers intended $10 billion sale to Mark Walter was approved by the Buss siblings through a majority vote,” a source familiar with the situation told ESPN NBA insider Dave McMenamin on Wednesday.
The Buss Family owned 66% of the franchise. Their father, Dr. Jerry Buss — who purchased the team in 1979 — set it up so that his children had the final say in a sale. And it had to be a majority vote. The Buss family will still hold on to a 15% stake in the Lakers after the sale. Maintaining some ownership plus splitting $10 billion six ways, seems like a great situation.
However, it was a majority vote, instead of a unanimous approval, according to McMenamin. Indicating that not everyone of Buss’ children was on board with losing control of the team. Current team governor Jeanie Buss will reportedly maintain that role for the foreseeable future. Her brothers previously tried to force her out of that position in the past.
It is unclear if those members of the family who did not want to sell will try and slow down the process of completing and agreement.
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After earning his journalism degree in 2017, Jason Burgos served as a contributor to several sites, including MMA Sucka ... More about Jason Burgos