Los Angeles Lakers Sold to Mark Walter for Record $10 Billion: What the Historic Ownership Change Means for the Team’s Future

By Edcel Panganiban June 20, 2025 07:04

The Los Angeles Lakers, one of the NBA’s most storied franchises, have officially entered a new era with the sale of majority ownership to billionaire investor Mark Walter for a record-setting $10 billion. This landmark transaction, confirmed by multiple sources including ESPN, not only shatters the valuation ceiling for U.S. professional sports franchises but also marks the end of the Buss family’s 47-year reign as majority owners of the team.

A Historic Sale and What It Means

The $10 billion price tag eclipses the previous record held by the Boston Celtics, who sold for $6.1 billion earlier this year, underscoring the Lakers’ immense brand value and market appeal. The Buss family, who have owned the Lakers since 1979 and presided over 11 NBA championships, will retain a minority stake of just over 15% for the foreseeable future. Crucially, Jeanie Buss will remain the team’s governor and continue running day-to-day operations “for at least a number of years,” a condition guaranteed in the sale agreement and fully supported by Walter.

Mark Walter, CEO of TWG Global and Guggenheim Partners, has been a Lakers stakeholder since 2021 when he acquired a 26% share and secured the right of first refusal on the majority ownership. Walter’s extensive sports portfolio includes primary ownership of the Los Angeles Dodgers, part ownership of the WNBA’s Los Angeles Sparks, Premier League’s Chelsea FC, and stakes in professional women’s hockey and motorsports. His track record with the Dodgers is particularly instructive: since purchasing the team in 2012, Walter has overseen 12 consecutive playoff appearances and two World Series titles, investing heavily in top-tier talent like Mookie Betts and Shohei Ohtani.

What Walter’s Ownership Could Mean for the Lakers

Walter’s acquisition signals a potential paradigm shift in how the Lakers operate. Historically, the franchise has been criticized for a more conservative financial approach compared to other NBA powerhouses. Walter’s deep pockets and aggressive investment style could fuel a renewed championship push. Industry insiders expect the Lakers to adopt a more robust payroll strategy, akin to the Dodgers’ projected $476 million spending this season, which includes luxury tax commitments to secure elite talent.

Lakers legend Earvin “Magic” Johnson, who partnered with Walter in acquiring the Dodgers, expressed enthusiasm about the sale. “Laker fans should be ecstatic,” Johnson said. “Mark is driven by winning, excellence, and doing everything the right way. He will invest the resources needed to win! I can understand why Jeanie Buss decided to sell the team to Mark he embodies the same values”.

Current Lakers stars are also optimistic. Luka Doncic, eligible for a $229 million contract extension, has publicly supported the ownership change, hopeful that Walter’s involvement will provide the financial muscle and organizational stability necessary to build a championship contender around him and LeBron James.

Continuity Amid Change

While the sale marks a historic ownership transition, the retention of Jeanie Buss as governor ensures continuity in leadership and preserves the Lakers’ culture and identity. This hybrid approach balances fresh capital and vision with institutional knowledge and stability, a combination that could prove vital as the team navigates the competitive landscape of the NBA.

Looking Ahead

Mark Walter’s takeover of the Lakers is more than a record-breaking business deal; it’s a statement of intent. With his proven ability to transform franchises through strategic investment and operational excellence, Walter’s stewardship could usher in a new golden era for the Lakers. The franchise’s future success will likely hinge on how effectively Walter leverages his resources to attract and retain superstar talent, enhance the fan experience, and maintain the Lakers’ place atop the NBA hierarchy.

In sum, the $10 billion sale of the Lakers to Mark Walter is a watershed moment for the franchise. It blends historic legacy with ambitious future prospects, promising a potent mix of tradition, innovation, and championship aspirations for one of basketball’s most iconic teams.