Los Angeles Lakers to be Sold in Landmark $10 Billion Deal

In a landmark transaction, the Buss family has agreed to sell a majority stake in the Los Angeles Lakers to Mark Walter, CEO of TWG Global and an existing minority owner since 2021. The deal, valued at approximately $10 billion, marks the largest professional sports franchise sale to date. Jeanie Buss will continue as the team's governor, overseeing daily operations, while the Buss family retains a minority ownership stake. The transaction is expected to finalize in late 2025, pending standard conditions and NBA approval.

This sale signifies a monumental shift in the Lakers' ownership, transitioning from over four decades of Buss family stewardship to Mark Walter's leadership. Walter, who also holds ownership interests in the Los Angeles Dodgers and Sparks, expressed admiration for the Lakers' legacy and Jeanie Buss's leadership. The deal underscores the escalating valuations in professional sports and raises questions about the future direction of the storied franchise.

Background on the Los Angeles Lakers

Founded in 1947, the Los Angeles Lakers are one of the most storied franchises in NBA history. The team has won 17 NBA championships, tied for the most in league history. The Lakers have been home to basketball legends such as Magic Johnson, Kareem Abdul-Jabbar, Kobe Bryant, Shaquille O'Neal, and LeBron James. Under the Buss family's ownership since 1979, the team has achieved significant success, including the iconic "Showtime" era in the 1980s.

Details of the Sale

• Valuation: The sale is valued at approximately $10 billion, setting a new record for professional sports franchise transactions.

• Ownership Structure: Jeanie Buss will remain as the team's governor, overseeing daily operations. The Buss family will retain a minority ownership stake, ensuring continued involvement in the franchise.

• Approval Process: The transaction is expected to finalize in late 2025, pending standard conditions and NBA approval.

About Mark Walter

Mark Walter is the CEO of TWG Global and has been a minority owner of the Lakers since 2021. He is also the primary owner and chairman of Major League Baseball's Los Angeles Dodgers, under whose leadership the team has won two World Series titles. Walter's sports investments extend to the Los Angeles Sparks of the WNBA and various motorsport teams. He co-founded Guggenheim Partners, a global financial services firm with over $325 billion in assets under management.

Historical Context

The Buss family's ownership of the Lakers began in 1979 when Dr. Jerry Buss purchased the team. Under their stewardship, the Lakers secured 11 NBA championships. The sale to Mark Walter represents a significant transition, ending over four decades of Buss family control.

Social and Economic Implications

• Record-Breaking Valuation: The $10 billion valuation underscores the immense value and global appeal of the Lakers brand. This sale surpasses previous records, including the pending $6.1 billion sale of the Boston Celtics, highlighting the escalating valuations in professional sports.

• Continuity in Leadership: Jeanie Buss's continued role as governor ensures stability in the team's operations and maintains the legacy established by her family.

• Broader Sports Investments: Walter's extensive involvement in various sports franchises suggests potential synergies and a commitment to maintaining the Lakers' competitive edge.

Conclusion

The sale of the Los Angeles Lakers to Mark Walter marks a historic moment in professional sports, reflecting the evolving landscape of franchise ownership and the increasing valuations of sports teams. As the transaction progresses toward finalization, stakeholders and fans alike will be keenly observing the impact of this ownership change on the future of the Lakers.