The Buss family has been in control of the Los Angeles Lakers since Dr. Jerry Buss acquired the organization in 1979.
He went to great lengths to lead the team to the mountaintop, setting the bar for what a successful sports franchise should look like, and turning them into one of the most popular and valuable franchises in all sports.
Now, the team is ready to switch hands. Current owner Jeanie Buss has agreed in principle to sell the team to Los Angeles Dodgers owner Mark Walter for a record-breaking $10 billion.
Jeanie Buss
Jeanie Buss
© Jayne Kamin-Oncea-Imagn Images
Nevertheless, that doesn't mean she's going anywhere. According to The Athletic's Sam Amick, Buss will only sell the team if she's allowed to remain as governor for at least five more years:
“Let’s start with the Lakers, who were sold for a whopping $10 billion valuation to Dodgers owner/Lakers minority owner Mark Walter recently but will still be run by longtime owner Jeanie Buss for quite some time to come. Per a team source, Buss’ agreement with Walter and the NBA stipulates that she’ll remain the team’s governor for at least the next five seasons,” Amick reported.
Jeanie Buss has been the team's governor and controlling owner since 2017, four years after her father passed away.
The sale, which would mark a new record for an NBA team, could go as high as $12 billion once the deal is finalized, The Athletic reported.
Walter has been the Dodgers' owner since 2012, leading the team to a couple of World Series wins ever since. He's also been a minority stakeholder in the Lakers since 2021.